Bessent Says He Divested From Soybean Farms After Ethics Office Warning

Eli Lilly’s diabetes treatment, Mounjaro, has been officially added to China’s state insurance list, enhancing access for patients in need of effective diabetes management. This inclusion marks a significant step in the company's efforts to expand its market presence in China, a key region for growth in the pharmaceutical sector.

French President Emmanuel Macron has warned that the European Union (EU) may impose tariffs on China due to a significant trade surplus, criticizing the US approach to China as detrimental to Europe's market position. He noted that the US strategy has redirected Chinese goods towards the EU, exacerbating the trade imbalance.

U.S. Trade Representative Jamieson Greer announced that China has made significant progress in fulfilling its soybean purchase commitments, having completed approximately one-third of its obligations for the current growing season. This statement reflects a positive development in U.S.-China trade relations, particularly in the agricultural sector.

China is recognized as a leading nation in renewable energy, showcasing a complex energy landscape that includes solar, wind, hydro, nuclear, and coal. This duality presents both opportunities and challenges as the country navigates its energy future amidst global scrutiny and economic pressures.

Treasury Secretary Scott Bessent has announced his divestment from his soybean farm, a decision made in response to a warning from the ethics office regarding federal ethics agreements. This move aims to ensure compliance amid ongoing scrutiny of potential conflicts of interest.

China is actively addressing its rising power demand through a complex energy landscape that includes a mix of renewable sources such as solar, wind, and hydro, alongside traditional energy sources like coal and nuclear power. This multifaceted approach reflects the country's commitment to meeting its energy needs while navigating economic challenges.

Eli Lilly & Co., Pfizer Inc., and Johnson & Johnson have been included in China's first innovative drug catalog, which marks a significant step in the country's healthcare landscape by allowing private insurance coverage for these advanced treatments.

Steven Rattner, from Willett Advisors, expressed concerns about the U.S. economy's dual nature, highlighting weak consumer spending alongside a thriving tech sector. He emphasized that China is advancing rapidly in electric vehicles, biotechnology, and artificial intelligence, suggesting that U.S. tariffs are unlikely to impede this progress. Rattner advocates for U.S. innovation and effective domestic policies as the primary means of competition against China.