China has quietly waived the 125% tariff it imposed earlier this month on U.S. ethane imports, a significant concession that reflects Beijing’s need to protect key industrial inputs even as its trade war with Washington intensifies.

The exemption, which has not been publicly announced, follows a series of similar moves in recent days, as Beijing seeks to cushion strategic sectors from retaliatory damage while maintaining its tough public stance against the U.S. The ethane tariff removal marks the most prominent relief yet for a U.S. commodity that China relies on heavily.

Lockheed Martin, a prominent U.S. weapons manufacturer, has inked agreements with Saudi Arabian companies to facilitate the manufacturing of components for its missile defense system amidst ongoing military operations in the Middle East, particularly against Iran-backed groups. The contracts for…

The European Union has reached a new agreement to relax its gas storage rules, aiming to prevent market distortions and mitigate the risk of driving up energy prices ahead of the winter heating season. The revised framework, announced by the European Commission on Tuesday, reflects growing concerns among EU governments that rigid storage targets were inadvertently fueling price volatility and providing traders with opportunities to speculate on tight supply.

The original rules were introduced in 2022 during the peak of Europe’s energy crisis, after Russia drastically reduced natural gas exports to the continent in retaliation for Western support for Ukraine. These emergency measures mandated that EU countries fill their gas storage facilities to at least 90% capacity by November 1 each year, a move designed to ensure winter energy security and limit Russia’s ability to weaponize gas as a geopolitical tool.