The preliminary trade agreement between the European Union and the Philippines advances Europe’s effort to broaden its commercial relationships as US tariffs make access to the American market less predictable. For Manila, it offers the prospect of stronger export access and closer investment ties with a major economic partner.

Its significance extends beyond tariff reductions: a completed agreement could influence where companies manufacture, source components and commit capital across Southeast Asia. The announcement marks a political breakthrough, with important work still outstanding. Trade Commissioner Maroš Šefčovič said the principal terms have received political approval and must now be converted into legal provisions.

China is planning a significant expansion of its strategic reserves of key industrial metals in 2025, as it seeks to fortify its supply chains for critical minerals amid surging demand from the energy transition and rising geopolitical uncertainty. The National Food and Strategic Reserves Administration is set to purchase additional volumes of cobalt, copper, nickel, and lithium — metals essential to electric vehicles, battery storage, and renewable infrastructure.

The move, which was signaled in the National Development & Reform Commission’s (NDRC) annual parliamentary report, underlines Beijing’s dual strategy: ensuring resilience in times of global supply disruption and exerting influence over global commodity markets. The NDRC stated it would “move faster to fulfill the yearly task of stockpiling strategic goods”.

Argentina, a significant player in the global lithium market and the fastest-growing producer of lithium, is exploring the possibility of imposing a new tax on lithium producers and mandating a reserved portion of production for national battery projects. The goal behind these potential measures is to tap into the profits of lithium companies and utilize those funds for crucial infrastructure development.