Recently, the Shanghai Municipal National Development and Reform Commission (NDRC) issued a notice on the *Key Work Arrangements for Carbon Peaking, Carbon Neutrality, Energy Conservation and Emission Reduction in Shanghai for 2026*. The document stated that Shanghai would promote the diversified development of local renewable energy sources such as wind and solar power, with the city adding 600,000 kW of new PV installations. Two batches of standalone ESS power station projects would be advanced. The results of competitive bidding on mechanism-based electricity prices for new energy incremental projects would be publicly announced. Huangpu District would be organized to carry out the national carbon peaking pilot program. Chongming District would be supported in steadily advancing the national pilot program for ecological product value realization mechanisms. The *Shanghai Action Plan for Accelerating Green and Low-Carbon Transformation (2024–2027)* would be implemented, promoting the deployment of 15 key application scenarios for green and low-carbon transformation. The construction of national-level zero-carbon industrial parks would be supported, and a number of municipal-level zero-carbon industrial parks would be developed.

Following Amara Camara's remarks, Ousmane Gaoual Diallo, the Minister of Transport and Government Spokesperson of the Republic of Guinea, further elaborated on the reasons for revoking the mining rights of certain local enterprises. The government spokesperson emphasized that these measures were not intended as punishment but rather to enhance the efficiency and credibility of the mining sector. He added that the goal was to rebuild the mining sector to ensure greater compliance with regulations. "These measures are neither impromptu nor arbitrary (...). We must remember that contracts are involved, with commitments from both parties. When one party defaults, the legal process and our mining laws provide mechanisms for the state to reclaim its rights or for companies that have been wronged to appeal. Therefore, we are taking these measures to ensure the proper enforcement of the law and to send a positive signal to all investors," stated Ousmane Gaoual Diallo. Miners whose mining rights have been revoked have the possibility of appealing, but… Within a week, the Guinean authorities revoked nearly 200 non-compliant mining licenses and reclassified them as strategic reserve areas. According to the government spokesperson, companies whose licenses have been revoked have the right to appeal. "The President wants to ensure that once you have signed a commitment, or he has signed a commitment on behalf of the people of Guinea, both parties must adhere to it. This way, everyone can develop a habit of compliance. Therefore, this is not a punishment but a move towards transparency and the rebuilding of economic relations to ensure that all initiatives serve the country's development. Currently, if there is a default, the parties involved still need to fulfill their respective payment obligations, but this will not affect the validity of the commitments made previously. This means that if a company has committed to paying a certain amount of taxes to the state annually and contributing to local development, we will ensure that these commitments are fulfilled," he said. The Minister of Transport clarified that companies that have lost their licenses have the opportunity to reapply when concessions in the mineral market are opened up. However, he emphasized that this would come with certain conditions. "For companies that are ready or meet the criteria, we will not impose restrictions. Because we are not implementing a policy of sanctions; we are rebuilding the economic system and strengthening territorial sovereignty. If you meet the criteria for regaining a concession tomorrow, we will not object. However, if the license was revoked due to multiple violations, you will not be able to obtain a license again. We will ensure that all regulations of the Mining Commission are strictly enforced," he explained. Related Reading: Repeatedly Nearing the Daily Price Limit! Guinea's Mining Disruptions Stimulate Alumina Futures Surge - Pay Attention to These Risk Points [SMM News Flash] Resonance Between Fundamentals and Positive News!Alumina main contract hits a new high in over a month; how far can the comeback journey go? [SMM Flash News]

The National Development and Reform Commission (NDRC) held a press conference at 10 a.m. today to discuss developments in May. NDRC: Most policies to stabilize employment and the economy will be implemented by the end of June At the conference, Li Chao, spokesperson for the NDRC, stated that on the basis of accelerating the implementation of existing policies, the NDRC, in collaboration with relevant departments, has expedited the introduction of a series of measures to stabilize employment, stabilize the economy, and promote high-quality development. Relevant departments are currently working diligently to implement these measures, with most policy initiatives scheduled to be in place by the end of June. Meanwhile, the NDRC will continue to strengthen policy pre-research and reserves on a regular and open-ended basis, continuously improving the policy toolkit for stabilizing employment and the economy to ensure timely implementation when needed. Systematic planning of 53 supporting measures across 7 areas to facilitate the effective implementation of the Private Economy Promotion Law Li Chao stated that the Private Economy Promotion Law officially came into effect today, marking a significant milestone in the construction of the socialist market economy and a landmark event in the development history of China's private economy. The NDRC will promote the implementation of the law in three aspects: first, comprehensively carrying out legal publicity activities; second, accelerating the effective implementation of supporting policies and measures; and third, collaborating with relevant departments and localities to effectively address the concerns and issues of private enterprises. In terms of formulating supporting policies, the NDRC, in collaboration with relevant departments, has systematically planned 53 policy initiatives across 7 areas. Relevant policy initiatives have been gradually introduced and implemented. For example, opinions on improving the social credit system, actions to clean up and rectify market access barriers, etc. Subsequently, the NDRC will also establish detailed ledgers to promote the introduction and implementation of relevant policy initiatives one by one. In addressing the concerns of private enterprises, it is necessary to make good use of relevant policies such as new local government special bonds, strengthen punishment for dishonesty, and accelerate the progress of clearing overdue payments to private enterprises. Strive to issue the complete list of "two major" construction projects for this year by the end of June Li Chao stated that the NDRC aims to issue the complete list of "two major" construction projects for this year by the end of June, ensuring high standards in organization and implementation. High-end manufacturing, digital economy, etc., will be fully reflected in the new edition of the Catalogue of Industries Encouraged for Foreign Investment Li Chao stated that the work of revising and expanding the Catalogue of Industries Encouraged for Foreign Investment has completed the public consultation phase and is currently being revised and improved based on feedback from all sectors of society. Areas of concern such as high-end manufacturing, the digital economy, etc., will be fully reflected in the new edition of the Catalogue of Industries Encouraged for Foreign Investment. Cut-throat competition distorts market mechanisms and disrupts fair competition order, necessitating rectification Li Chao stated that rectifying cut-throat competition is a matter of great concern to all. Currently, China's economy is in a period of replacing old growth drivers with new ones, with new industries, new business forms, and new models continuously emerging. Currently, traditional industries are accelerating their transformation and upgrading. During this process, some industries have encountered structural issues, breaching the boundaries and bottom lines of market competition, distorting market mechanisms, and disrupting the order of fair competition, which must be addressed. China will always welcome and remain a fertile ground for foreign-funded enterprises to invest and operate. We call on relevant countries to return to the right path of multilateralism and free trade as soon as possible. Li Chao stated that, influenced by measures such as the US's indiscriminate imposition of tariffs, the uncertainty of global cross-border investment has risen significantly, affecting the investment decisions of many multinational enterprises. I would like to emphasize that a stable, transparent, and predictable macro policy environment is an important prerequisite for enterprises to enhance their investment and operational efficiency. Over the past 40 years, China has unwaveringly advanced reform and opening up, remaining an ideal, safe, and promising investment destination for foreign-funded enterprises. Currently, some countries are pursuing unilateralist and protectionist measures, forcing enterprises to choose sides and make choices that are inconsistent with economic laws, causing great disruptions to the normal operations of multinational enterprises. China will always welcome and remain a fertile ground for foreign-funded enterprises to invest and operate. We also call on relevant countries to return to the right path of multilateralism and free trade as soon as possible, jointly injecting certainty into the development of the global economy. We will crack down hard on "black flight" activities, such as pilots flying without licenses, low-altitude aircraft not obtaining airworthiness certificates, and flight activities not being approved. Li Chao stated that the potential risks and hazards of low-altitude flights cannot be overlooked, and safety is the primary prerequisite for the development of the low-altitude economy. The National Development and Reform Commission (NDRC) will work with relevant departments to expand the application scenarios of the low-altitude economy in an orderly and classified manner, following the principles of "cargo first, then passengers; isolation first, then integration; suburbs first, then urban areas," while strictly controlling risks and ensuring safety. We will steadily promote the development of low-altitude consumption, such as low-altitude tourism, aviation sports, and consumer drones. We will crack down hard on "black flight" activities, such as pilots flying without licenses, low-altitude aircraft not obtaining airworthiness certificates, and flight activities not being approved, guiding and promoting the rational layout and orderly expansion of the low-altitude industry. We will expedite the introduction of policies to strengthen the implementation of loan interest subsidies for equipment renewal. Li Chao stated that the NDRC will work with the Ministry of Finance to accelerate the allocation of funds for the trade-in of consumer goods, promptly complete the settlement of funds for the trade-in of consumer goods in 2024, and allocate subsequent funding quotas. At the same time, we will improve the efficiency of fund utilization, establish a mechanism for the direct and rapid allocation of ultra-long-term special treasury bond funds, expedite the introduction of policies to strengthen the implementation of loan interest subsidies for equipment renewal, and reduce the financing costs for various business entities to update their equipment. We will also urge relevant departments to further simplify the application process for subsidies, clarify the time limits for review and disbursement, implement the fund operation system, enhance the consumer experience, and alleviate the capital pressure on business entities. Conduct in-depth research on incremental and reserve policies in the "two new" areas, and launch them after timely approval in accordance with procedures. Li Chao stated that the National Development and Reform Commission (NDRC) will strengthen policy reserves for the "two new" initiatives (trade-in of consumer goods and large-scale equipment upgrades), promptly track and evaluate the progress of various tasks, conduct in-depth research on incremental and reserve policies in the "two new" areas, and launch them after timely approval in accordance with procedures. The scale of the AI terminal industry is expected to experience a "wave-like" growth. At a press conference, Li Chao said that in recent years, the NDRC, in collaboration with relevant departments, has jointly promoted the "AI+" initiative, continuously improving the policy system, increasing support, and fully advancing the empowerment of various industries through AI. A favorable atmosphere for jointly promoting "AI+" has initially taken shape across society. Firstly, the process of large-scale application in key industries has significantly accelerated. Secondly, the cost-reducing and efficiency-enhancing effects of "AI+" are gradually becoming apparent. Thirdly, characteristic demonstration applications are being explored in line with local conditions. We collaborate with industry departments to provide classified and industry-specific guidance, identifying the driving forces of "AI+" in line with local conditions. Fourthly, new AI terminal products and scenarios are emerging in competition. Lightweight deployment of domestic large models on smartphones has expanded their functions, and intelligent wearable products such as AI glasses continue to emerge. The scale of the AI terminal industry is expected to experience a "wave-like" growth.

According to the website of the State Taxation Administration, recently, the Shenzhen Taxation Bureau Inspection Bureau of the State Taxation Administration, based on tax big data and relevant tax-related clues, investigated and handled, in accordance with the law, a case of tax evasion by Shenzhen Kingsda Applied Materials Co., Ltd. through illegally enjoying preferential tax treatment for additional R&D expense deductions. Upon investigation, the company engaged in false tax declarations by falsely listing expenses for gold materials in R&D expenses, illegally enjoying preferential tax treatment for additional R&D expense deductions, and underpaying corporate income tax by 16.2116 million yuan. Additionally, the company was found to have other instances of underpayment of taxes. In response to its illegal activities, the inspection department made a decision to recover the underpaid taxes, impose late fees, and impose fines totaling 36.1815 million yuan in accordance with the law. The "whereabouts unknown" of over 80 million yuan worth of gold invested in R&D In the early stage, through tax big data analysis, the Shenzhen Taxation Bureau Inspection Bureau discovered that Shenzhen Kingsda Applied Materials Co., Ltd. had made significant R&D investments, far exceeding the normal levels within the same industry. In response to this suspicious clue, inspectors compared the company's declared data, financial records, and inventory data, and found that the company had listed over 80 million yuan worth of gold investments in the "R&D expenses - direct materials" account during the inspection period, with neither corresponding finished product output nor records of scrap recovery. In response to the above suspicions, inspectors initially interviewed Zhang, the then-legal representative of the company, who claimed that the over 80 million yuan worth of gold had been lost due to purification processes. According to common knowledge, gold is an element with extremely high chemical stability in nature, easily purified, and possesses monetary attributes, with high value and strong liquidity. The over 80 million yuan worth of gold involved in this case is not a small amount. It is indeed difficult to comprehend that such a significant loss would occur due to purification processes. What is even more suspicious is that, given such a large loss, the company still listed gold expenses for each R&D project. Do all these R&D projects truly require gold investments? Inspectors could not help but raise questions. The claim of "gold loss due to purification" collapses on its own Based on the accounting books and invoices provided by the enterprise, inspectors discovered that two gold purification institutions had provided gold purification services to the company in three separate years. To verify the company's gold R&D purification loss situation, inspectors issued and delivered "Tax Assistance Inspection Notices" to these two institutions in accordance with the law. According to the feedback from the two purification institutions, the first institution had received over 1.3 million grams of gold materials from the company for purification processing, with basically no loss after processing and purification, returning gold of approximately the same weight to the company, and charging a purification fee (including loss) of 517,313 yuan; the other institution had received over 300,000 grams of gold materials from the company, and after processing and purification, returned gold of approximately the same weight to the company, charging a purification fee (including loss) of 171,760 yuan. The purification feedback from these two institutions largely confirmed the inspectors' judgment that the loss of gold during purification was low, which was clearly inconsistent with the substantial loss claimed by the enterprise. Given that the company's financial statements indicated such significant losses of gold, there should have been "traces" of this process. Did the enterprise have any relevant supporting materials? However, the inspectors did not find any records related to the company's R&D finished products or R&D scrap in the relevant materials, account books, and vouchers provided by the company for its R&D projects. Meanwhile, the enterprise was also unable to provide relevant evidence. The substantial loss of gold during purification claimed by the company was simply untenable. The chain of evidence unveiled the "veil" of tax evasion. If the reason for the gold loss was "untenable," was the substantial amount of gold truly invested? After analyzing over 30 R&D projects of the company one by one, the inspectors discovered that there were suspicions of gold usage in multiple projects of the company, with some projects having no process of using gold during R&D. Meanwhile, based on the project appraisal results issued by third-party appraisal institutions, the Inspection Bureau ultimately confirmed that the company had falsely listed expenses for gold materials and illegally enjoyed tax incentives for additional R&D expense deductions in 17 R&D projects, resulting in a total underpayment of corporate income tax of 16,211,600 yuan. In addition, during the inspection process, it was also found that the company had other acts of underpayment of taxes. The inspectors once again interviewed the company's legal representative, Zhang XX, and conducted legal education for him, informing him of the corresponding legal responsibilities that might arise. In the face of various evidence presented by the inspectors, Zhang XX still refused to admit the relevant illegal facts and was unable to provide reasonable explanations. However, in the face of conclusive evidence, the company's illegal acts could not be concealed and would ultimately be subject to legal punishment. According to the first paragraph of Article 63 of the Law of the People's Republic of China on the Administration of Tax Collection: Where a taxpayer forges, alters, conceals, or unlawfully destroys account books or accounting vouchers, or overstates expenses or fails to record or understates income in the account books, or refuses to file tax returns or makes false tax returns after being notified by the tax authorities to do so, and fails to pay or underpays the tax payable, it constitutes tax evasion. For taxpayers who evade taxes, the tax authorities shall recover the unpaid or underpaid tax, surcharge for overdue payment, and impose a fine of not less than 50% but not more than five times the amount of the unpaid or underpaid tax; if the act constitutes a crime, criminal responsibility shall be investigated according to law. The Inspection Bureau of Shenzhen Municipal Tax Service, State Taxation Administration, classified the relevant illegal acts of Shenzhen Kingstar Advanced Materials Co., Ltd. as tax evasion and made a decision to recover the unpaid tax, impose a surcharge for overdue payment, and impose a fine in accordance with the law.

The reform of public funds will be implemented today. On May 7, Wu Qing, Chairman of the China Securities Regulatory Commission (CSRC), stated at a press conference held by the State Council Information Office that the "Action Plan for Promoting High-Quality Development of Public Funds" would be released today. The plan aims to optimize the fee structure of actively managed equity funds, reverse the phenomenon of fund companies enjoying "guaranteed profits regardless of market conditions," improve the industry's performance evaluation system, and urge fund companies to shift their focus from "emphasizing scale" to "emphasizing returns," better reflecting the shared interests, mutual development, and reciprocal success between fund managers and investors, and striving to form a virtuous cycle of "increased returns, inflow of funds, and market stability." "The Action Plan for Promoting High-Quality Development of Public Funds has undergone over 30 thematic surveys, gathering opinions from investors, institutions, and other stakeholders, with a particular focus on the bottlenecks, challenges, and pain points that investors care about," Wu Qing said. With the implementation of the reform plan, public funds will place greater emphasis on the best interests of investors, further enhancing investors' sense of gain. What are the key points of this public fund reform plan? Wu Qing has already outlined the priorities for the industry when answering questions from reporters. First, optimize the fee structure of actively managed equity funds, with those underperforming required to charge lower management fees. Cailian Press reporters have learned that multiple fund companies are about to launch a series of innovative products with "fulcrum-style" floating fee rates. Second, incorporate whether performance outperforms benchmarks and investors' profit and loss situations into performance evaluation indicators. Third, clear performance comparison benchmarks will serve as a yardstick for measuring the true performance of products. Fourth, clarify that the weight of performance evaluation over a three-year period should be no less than 80%. Fifth, expedite the formulation of regulations on the management of public fund investment advisors. Sixth, Wu Qing mentioned Warren Buffett's value investing philosophy, calling for the emergence of century-old firms and outstanding investment institutions in the market. Four "Prominences" to Drive High-Quality Development of Public Funds Wu Qing introduced that the upcoming public fund reform will focus on four key areas: First, prominently strengthen the alignment of interests with investors. The reform will prominently strengthen the alignment of interests between public funds and investors by optimizing the fee structure of actively managed equity funds, requiring those underperforming to charge lower management fees, and reversing the phenomenon of fund companies enjoying "guaranteed profits regardless of market conditions" through a floating management fee mechanism. At the same time, indicators directly related to investors' vital interests, such as whether performance outperforms benchmarks and investors' profit and loss situations, will be incorporated into the performance evaluation system of fund companies and fund managers, urging fund companies to shift their focus from "emphasizing scale" to "emphasizing returns." Second, prominently enhance the stability of fund investment behavior. To address issues such as style drift and mismatched products, clear performance benchmarks should be established for each fund to serve as a yardstick for measuring the true performance of the products, thereby preventing product investment behaviors from deviating from their names and positioning. Meanwhile, companies should establish comprehensive incentive and restraint mechanisms, specifying that the weight of assessments over three years should be no less than 80%, to reduce the phenomenon of fund managers rushing to buy amid continuous price rise and selling amid continuous price decline, and improve the long-term returns of products. Third, we should prioritize enhancing the ability to serve investors. We should expedite the introduction of regulations on the management of public fund investment advisors to promote standardized development. Fourth, we should emphasize the work orientation of developing and expanding equity funds. With the implementation of the reform plan, public funds will place greater emphasis on the best interests of investors, and investors' sense of gain will be further enhanced. Wu Qing also mentioned Warren Buffett, who is set to retire this year. He said that although Buffett is retiring this year, the fundamental principles of long-term value investing, rational investing, and striving to reward investors will not retire. After Buffett's retirement, this era is also calling for new great investors. Our market has a group of outstanding enterprises and entrepreneurs, and it is believed that a group of excellent investors and investment institutions will surely emerge. There may not be one or two stock market gurus, but there will definitely be some century-old firms, investment institutions, and excellent investment teams emerging in our market. This year, Wu Qing has repeatedly disclosed the key points of public fund reforms On September 26 last year, the meeting of the Political Bureau of the Central Committee proposed to "steadily advance the reform of public funds," and this topic has also been mentioned multiple times in subsequent major meetings. Regarding the deployment of high-quality reforms of public funds, Wu Qing had previously disclosed the basic ideas of relevant reforms in January and March this year. In January this year, at a press conference held by the State Council Information Office, the China Securities Regulatory Commission (CSRC) disclosed the reform plan for the first time. When introducing the work related to the entry of medium and long-term funds into the market, Wu Qing disclosed that after careful survey and demonstration, the CSRC had proposed some targeted reform measures, and a preliminary reform plan had been formulated. Wu Qing's speech provided reform indicators across multiple dimensions: First, we should continue to promote fee reductions. Starting from 2025, fund sales fees will be further reduced, which is expected to save investors approximately 45 billion in total fees annually; Second, we should vigorously develop equity funds. The reform of public funds will help increase the free-float market capitalization of A-shares by at least 10% annually over the next three years; Third, we should increase the innovation of medium-to-low volatility products and transition the pilot programs of floating-rate products into regular ones; Fourth, we should establish a rapid registration mechanism for stock ETFs.In principle, registration should be completed within five working days from the date of acceptance; Fifth, strengthen the guidance of regulatory classification and evaluation. Increase the weight of indicators such as the proportion of equity fund scale and long-term performance in regulatory classification and evaluation; Sixth, guide self-purchases. Fund management companies will self-purchase a certain proportion of their annual profits in equity funds under their management; Seventh, on the trading side, allow institutional investors such as public funds to more actively participate as strategic investors in private placements of publicly listed firms, etc. Eighth, resolutely rectify excessive speculative behaviors such as "high turnover rates" and "style drift," and increase the intensity of investigations and punishments for illegal and non-compliant activities. At the Two Sessions press conference in March this year, the reform of the public fund industry was once again brought to the forefront. Wu Qing stated that a reform plan for public funds is about to be launched, with a focus on the assessment system arrangements. The long-term assessment system for public funds with a period of over three years will be further improved to guide long-term value investment. In fact, in addition to the upcoming reform plan for public funds, since the beginning of this year, multiple measures have been implemented, including the "Action Plan for Promoting the High-Quality Development of Indexed Investment in the Capital Market" and the reform of public fund fee rates. While the scale of public funds has expanded rapidly and their proportion has increased, their returns have also gradually improved. Taking the reform of public fund fee rates as an example, by reducing the comprehensive fee rate in stages, it is estimated that investors can save costs exceeding 45 billion yuan annually. Meanwhile, by advancing the fee rate reform, the interests of fund management companies and investors will be more closely aligned.

Introduction: In today's world, where the global goal of carbon neutrality is accelerating, secondary non-ferrous metals are embracing a historic development opportunity. The latest statistics show that for every 1 percentage point increase in China's recycling rate of secondary metals, 23 million tons of carbon dioxide emissions can be reduced. This article will provide an in-depth interpretation of the new 2024 policies on the supervision of secondary metal imports, unveiling the "green customs clearance" secrets within the multinational industry chain. [New Product Access: The Green Revolution of Strategic Resources] Driven by the dual carbon strategy, secondary metals have become the "urban mines" supporting the transformation and upgrading of the manufacturing industry. The newly revised "Technical Specifications for Secondary Metal Raw Materials" not only redefines the raw material classification system but also establishes a digital supervision framework. For importers, it is crucial to grasp the following key elements: Core Advantages The energy consumption of secondary aluminum production is only 5% of that of primary aluminum, and the carbon footprint of secondary copper is 65% less than that of ore-based copper. According to customs data from Q3 2024, the customs clearance time for compliant secondary copper and aluminum imports has been compressed to 3.5 working days, achieving a 400% efficiency improvement compared to ordinary metal scrap. [Key Points of the New Policy: Understanding the Customs' New "Metal Dictionary"] I. Triple Breakthroughs in Catalog Reconstruction 1. Digital Classification Standards Copper-based raw materials : Forming a three-tier gradient of "pure metal wire - mixed granules - refined copper wire nodules" Aluminum alloy family : Subdivided into three series: casting, wrought processing, and engineering pure aluminum Comparison Table of Old and New Catalogs 2. Qualitative Changes in Technical Indicators Adopting the Melt Flow Index (MFI) to replace traditional visual inspection methods and introducing XRF rapid detection technology: Example: Secondary wrought aluminum alloy must meet the following requirements: σb ≥ 180MPa δ5 ≥ 8% Brinell hardness HBW ≥ 45 3. Revolution in Customs Inspection and Testing Developing a "three-dimensional spectral matrix" detection system to achieve: 0.5-second early warning for heavy metal pollution 99.3% accuracy in AI recognition of non-metallic residues Online monitoring of radioactive isotopes [Customs Clearance Tips: Five Essential Strategies for Enterprises] Step-1: Traceability of Cargo Quality Establish a supplier ESG rating system, focusing on verifying: ISO 14064 certification of pre-processing plants Disassembly process monitored by electronic fencing Temperature and humidity sensor data chain during transportation Step-2: Smart Declaration System HS code selection matrix Step-3: Preventive Testing Recommended mandatory testing items for third-party laboratories: Melt Loss Rate (MLR) Three-dimensional distribution scanning of inclusions Pyrolysis gas chromatography of coating substances Step-4: Smart Document Management The blockchain document system must include: Laser traceability QR codes Multi-spectral analysis reports Carbon emission factor calculation sheets Step-5: Emergency Response Plan Reserve a special fund for return shipments. Registered AEO-certified enterprises can enjoy: 50% reduction in deposits Extension of customs payment deadlines to 90 days [Sobering Cases: Warnings of Multi-Million-Dollar Cargo Losses] Scenario 01: The Fatal Moisture Trap In August 2024, a Shenzhen enterprise imported 20 containers of secondary aluminum ingots, neglecting transportation environment monitoring: On-site inspection : Surface moisture content 0.8% → Deep-layer moisture content 11.3% Economic Loss : Port demurrage fees of 480,000 yuan + return shipment costs of 2.2 million yuan Scenario 02: The Butterfly Effect of Concealed Contaminants A hardware factory in Dongguan imported secondary copper granules contaminated with fragments of old circuit boards: Concealed Contaminants : Containing 0.3% lead solder Chain Reaction : Full-line production contamination, breach of a 300 million yuan order Scenario 03: The Abyss of Certification Fraud A Zhejiang trader trusted a forged EN 13920 certificate: Fraud Exposed : The EU registration number did not exist Qualification Loss : Customs credit rating downgraded to D class [Future Smart Manufacturing: The Digital Breakthrough of Secondary Metals] Framework of Smart Import Monitoring System Industry Trend Forecast Mandatory integration with secondary metal blockchain platforms by 2025 Smart container penetration rate to exceed 60% Multi-departmental joint punishment mechanisms to cover the entire supply chain [Strategic Conclusion] Standing at the forefront of global green trade, the import of secondary metals has entered the era of smart supervision. Enterprises urgently need to establish a three-in-one risk control system of "digital certification + process monitoring + smart logistics." Remember: Compliance is not a cost but the core competitiveness of the new era. When you successfully navigate through the policy fog, what you gain is not only customs clearance convenience but also the future code for sustainable development. Extended Thinking How can the RCEP agreement be utilized to obtain tariff preferences for secondary metals? How can Industry 4.0 technologies be deeply integrated with metal recycling?

Shanghai Released Detailed Rules for Vehicle Replacement and Renewal Subsidies in 2025. From January 1, 2025, to December 31, 2025, individual consumers who purchase new energy passenger vehicles priced at 100,000 yuan or above (based on the amount stated on the Uniform Invoice for Motor Vehicle Sales) and transfer (excluding changes, the same hereinafter) their small passenger vehicles registered in other provinces and cities within the specified period will receive a one-time fixed subsidy of 15,000 yuan. (Cailian Press)

On April 16, at the AICE 2025 SMM (20th) Aluminum Industry Conference and Aluminum Industry Expo—Aluminum Casting Technology Forum, co-hosted by SMM Information & Technology Co., Ltd., SMM Metal Trading Center, and Shandong Aisi Information Technology Co., Ltd., and co-organized by Zhongyifeng Jinyi (Suzhou) Technology Co., Ltd. and Lezhi County Qianrun Investment Service Co., Ltd., a certified expert from the China Nonferrous Metals Think Tank and the chief engineer and senior engineer of Anhui Guangsheng Meichen New Materials Technology Co., Ltd. shared insights on safety hazards in aluminum processing and the dual prevention mechanism. 1. Preface The theme revolves around "Everyone Talks About Safety, Everyone Knows Emergency Response—Smooth Life Channels," emphasizing the importance of safety first, prevention as the priority, and comprehensive management. The focus is on addressing both symptoms and root causes, with a particular emphasis on reducing major safety risks and eliminating significant accident hazards. 2. National Requirements The expert elaborated on how the "dual prevention mechanism" was proposed. The newly revised "Work Safety Law of the People's Republic of China" added provisions for establishing a dual prevention mechanism for safety risk classification control and hidden danger investigation and management. The main purpose is to implement the safety work requirements of the Party Central Committee and the State Council, ensuring that safety risk control precedes hidden danger management and that hidden danger investigation and management precede accidents. This aims to enable production and operation units to identify and control safety risks independently and manage hidden dangers autonomously. The key is to effectively carry out hidden danger investigation and management, preventing and resolving major safety risks at the source and addressing issues before they escalate. Why was the "dual prevention mechanism" proposed? Recent major accidents have exposed significant issues in the field of work safety, such as "unclear understanding and unforeseen problems." In response, General Secretary Xi Jinping has repeatedly emphasized the need to anticipate new situations and unforeseen problems in industries prone to major accidents. The shift from hidden danger investigation and management to safety risk control requires strengthening risk awareness, analyzing the entire chain of accident occurrence, and taking preventive measures at key links to prevent safety risk control failures from turning into hidden dangers and hidden dangers from evolving into accidents. 3. Detailed Explanation of Dual Prevention Dual prevention refers to the dual prevention mechanism of safety risk classification control and hidden danger investigation and management. This mechanism is the foundation and important guarantee of enterprise safety management. Below is a detailed explanation of dual prevention: 1. Safety Risk Classification Control Safety risk classification control is the first line of defense in the dual prevention mechanism. Its main contents include: a. Risk Identification: Identifying hazardous substances and energy at risk points and the conditions under which these may cause accidents. b. Risk Assessment and Classification: Using risk assessment criteria to evaluate identified risks and classifying them into different levels, such as extremely high, high, medium, and general safety risks (typically corresponding to red, orange, yellow, and blue labels). c. Risk Control: Ensuring that safety control measures at risk points are effective and managed by personnel at different levels. 2. Hidden Danger Investigation and Management Hidden danger investigation and management is the second line of defense in the dual prevention mechanism. Its main contents include: a. Hidden Danger Investigation: Conducting comprehensive inspections of control measures at risk points to promptly identify potential hidden dangers. b. Hidden Danger Management: Timely management of identified hidden dangers to prevent them from escalating into accidents. Management requires the implementation of "five guarantees": responsibility, measures, funds, timelines, and contingency plans. 3. Purpose and Significance of the Dual Prevention Mechanism The purpose of establishing the dual prevention mechanism is to address prominent issues in work safety, emphasizing the shift from hidden danger investigation and management to safety risk control. This mechanism helps enterprises fully implement their main responsibility for work safety, improve the effectiveness of accident and disaster prevention, reduce losses from accidents and disasters, and promote social stability and economic development. Additionally, the dual prevention mechanism emphasizes strict control over two key aspects: risk control, focusing on major risks, and hidden danger management, ensuring timely management of major hidden dangers. Through the dual prevention mechanism, every type of risk is controlled within acceptable limits, every hidden danger is managed at its inception, and every accident is eliminated in its early stages. In summary, the dual prevention mechanism is an essential component of enterprise safety management. It emphasizes starting with risk identification, using risk control as a means to prevent risks from turning into hidden dangers, and ensuring enterprise safety through hidden danger investigation and management. 4. Main Examples of Aluminum Processing Hazards 1. Focus on key areas of safety prevention. Highlight safety supervision of high-risk operations such as melting furnaces, deep well casting, dust explosion, and confined space operations. Conduct in-depth analysis of the jurisdiction, target efforts, overcome difficulties, and resolutely prevent and control major and above accidents. Urge enterprises to study and formulate practical safety management measures based on their characteristics and strictly implement them to reduce sporadic accidents. 2. Melting Furnace Area: 3. Casting Area: ③ Equipment: 1. Three emergencies: a. Trough (furnace) emergency pool, b. Emergency power supply, c. Emergency water; ④ Two liquid level controls + discharge: 1. Liquid level control and discharge from the furnace outlet to the online device trough, a. Discharge back to the furnace, b. Discharge to the trough emergency pool (tank); 2. Liquid level discharge from the trough to the water pan trough, a. Cut-off valve for the water pan and b. Trough discharge valve "automatically synchronized" discharge to the trough emergency tank; 5. Management Measures 1. Promote the dual prevention mechanism of risk classification control and hidden danger investigation and management. Encourage employees to voluntarily and dynamically report hidden dangers in a timely manner, effectively enhancing the enterprise's proactive management vitality. ① Establish and improve the work safety responsibility system: Clarify the work safety responsibilities of leaders at all levels, various departments, and positions, sign work safety responsibility letters at all levels, and form a work safety responsibility system that extends horizontally and vertically. ② Establish a work safety leadership group headed by the main responsible person, hold regular work safety meetings (at least once a month), and ensure effective progress in work safety. ③ Improve work safety management systems, operating procedures, and emergency plans based on the actual situation of the unit, ensuring that all systems comply with legal and regulatory requirements and are operational and targeted. ④ Ensure the effective implementation of various work safety systems through daily inspections, special inspections, and random (monitoring) inspections, and deal seriously with violations of the systems to form effective constraints. ⑤ Organize all employees to participate in training on work safety laws and regulations, operating procedures, emergency rescue, etc., and ensure that new employees (pre-job training, three-level safety training education) have completed the training to improve employees' safety awareness and operational skills. ⑥ Ensure that employees are certified and strictly follow operating procedures to prevent accidents. ⑦ Improve emergency plans based on the actual situation of the unit, clarify emergency response procedures, rescue measures, and guarantee measures, and improve the pertinence and operability of emergency plans. ⑧ Develop a hidden danger investigation and management plan, clarify the content, methods, and frequency of investigations, and ensure comprehensive and in-depth hidden danger investigation work; register identified hidden dangers, formulate rectification measures, and ensure timely rectification of hidden dangers. 2. Four Enhancements in Hidden Danger Investigation ① Enhance hierarchical investigation and control: The main responsible person of the production and operation unit is fully responsible for the investigation and management of hidden dangers. Enterprises should establish a four-level self-inspection and self-correction mechanism at the post, team, workshop, and factory levels according to the dual prevention system; team, workshop, and company leaders and managers, as well as post operators, should adhere to daily work safety inspections; the main responsible person of the unit should organize at least one hidden danger investigation per month involving safety management personnel, engineering and technical personnel, production supervisors, and employees. Improve the hidden danger investigation and management mechanism of "enterprise self-inspection and self-correction, expert guidance inspection, superior safety department supervision and inspection, and law enforcement supervision and rectification." Only through hierarchical investigation can the dual prevention system be effectively implemented. ② Enhance the "Four Hundreds": Hidden danger investigation should achieve 100% in time: adhere to full-time, ensure 24-hour on-duty investigation, and employees should investigate hidden dangers for 60 seconds while on duty for one minute; hidden danger investigation should achieve 100% in personnel participation (full participation): urge employees to firmly establish the safety concept of "not harming oneself, not harming others, not being harmed by others, and protecting others from harm"; hidden danger investigation should achieve 100% in key parts and critical links: adhere to comprehensive and thorough investigation, leaving no aspect uncovered; hidden danger investigation should achieve 100% in all departments of the enterprise: investigate hidden dangers according to the systematic method, differentiate different objects and departments for comprehensive investigation, and especially strengthen hidden danger investigation for external construction units, new employees, and visitors. ③ Enhance hierarchical management: Register identified hidden dangers according to their level, establish a hidden danger information file, and implement monitoring and management according to the division of responsibilities. If safety cannot be guaranteed before or during the elimination of hidden dangers, take emergency preventive measures or special protective measures, and if necessary, stop production, evacuate personnel, and suspend business for rectification. Each production and operation unit should strictly implement the principle of "lower-level management of hidden danger management measures" for identified hidden dangers: team leaders should personally handle team hidden dangers, workshop directors should personally handle workshop hidden dangers, and general managers should personally handle factory-level hidden dangers. At the same time, strictly implement the principle of "upper-level responsibility for hidden danger management": if hidden dangers lead to accidents, the responsibility should be traced to the upper level. This is the essence of "hierarchical management." ④ Enhance the "Two Regulars": Regularly have people interviewed or punished for safety issues; regularly have people commended for good performance in work safety. This is the "Two Regulars." Increase the weight and intensity of work safety in the performance evaluation of enterprise leaders at all levels, and incorporate work safety, especially hidden danger investigation and management, into the overall goals of enterprise production and operation. Further improve the work safety reward and punishment system, appropriately commend and reward departments and individuals with significant achievements, and strictly hold accountable those who violate laws and regulations or fail to act. At the same time, focus on strengthening work safety emergency management, emergency plans, and emergency drills, improve the emergency plan system, and ensure the filing of enterprise work safety rescue plans, regularly organize plan drills to improve the enterprise's self-rescue capability. ⑤ Deep well casting operation process, achieve "five-point linkage," and prevent molten aluminum from entering the casting well and encountering water to cause hidden dangers. First Point: The outlet liquid level control linkage of the holding furnace (also known as the stationary furnace, including the integrated melting and holding furnace, which refers to the furnace group connected to the casting machine, the same hereinafter). During the casting process (usually after the initial 300-500 mm and before the end), when the outlet liquid level of the holding furnace suddenly rises or is extremely high, or suddenly drops or is extremely low, the supply flow trough gate is cut off, the discharge gate is opened, or the lifting device at the entrance of the distribution trough is disconnected to stop the flow, and the tilting furnace automatically tilts back. Second Point: The liquid level control linkage between the main supply trough and the casting plate or the entrance of the distribution trough (core clause). During the casting process (usually after the initial 300-500 mm and before the end), when the liquid level of the main supply trough and the casting plate (mold plate) or the entrance of the distribution trough suddenly rises or is extremely high, or suddenly drops or is extremely low (the core of the core), the main supply trough gate is cut off, the discharge gate is opened, or the lifting device at the entrance of the distribution trough is disconnected to stop the flow, and the tilting furnace automatically tilts back. Third Point: The cooling water flow, pressure, and temperature control linkage of the casting plate or crystalliser. After the casting starts normally, when the cooling water pressure and flow of the casting plate (mold plate) or crystalliser suddenly drop, the main supply trough gate is cut off, the discharge gate is opened, or the lifting device at the entrance of the distribution trough is disconnected to stop the flow, the tilting furnace automatically tilts back, and the cooling water temperature is monitored. Fourth Point: The sudden power and water outage linkage of the casting machine. During the casting process, when the casting machine suddenly loses power or water, the main supply trough gate is cut off, the discharge gate is opened, and emergency water is activated; when the power is out, the emergency power supply (seamless) is activated, the main supply trough gate is cut off, the discharge gate is opened, or the lifting device at the entrance of the distribution trough is disconnected to stop the flow, and the tilting furnace automatically tilts back. Fifth Point: The sudden rise in water temperature at the outlet (return water) of the casting well linkage. During the casting process, when the water temperature at the outlet (return water) of the casting well rises suddenly in a short time, the main supply trough gate is cut off, the discharge gate is opened, or the lifting device at the entrance of the distribution trough is disconnected to stop the flow, and the tilting furnace automatically tilts back. In emergency situations, through the "five-point linkage," the continuous flow of molten aluminum to the casting plate or distribution trough can be blocked or delayed, thereby preventing the molten aluminum from entering the casting well and causing a potential accident of molten aluminum encountering water. Employees who are familiar with and perform the above tasks well will basically avoid potential hazards. 6. Conclusion In summary, by strengthening organization, hazard investigation and management, regulatory enforcement, enhancing process control, improving technical support, intelligent control, and third-party professional service guarantee measures, by building a hazard investigation and management system and a closed-loop management system, timely discovering and eliminating various accident hazards, deepening hazard management, and a series of measures, risk control and hazard management are in place; safety production work is a long-term and arduous task, we will continue to fulfill our safety production responsibilities with a high sense of responsibility and mission, constantly summarize experiences and lessons, improve safety production systems, strengthen safety production management, maintain our original aspiration and take on our mission, strengthen confidence and act bravely, prevent problems before they occur, and ensure the long-term stability of the company's production and business activities; the journey is long and the wind is strong, the heavy responsibility is upon us again. 》Click to view the AICE 2025 SMM (20th) Aluminum Industry Conference and Aluminum Industry Expo Special Report

On April 9, China Resources Wind Power (Lianzhou) Co., Ltd. issued a tender announcement for the EPC general contracting of the energy storage capacity expansion project supporting the 100MW expansion project of China Resources Qingyuan Lianzhou Fushan Wind Farm. The project is located in Xincun Village, Xingzi Town, Lianzhou City, Qingyuan City, Guangdong Province. The scope of work for the EPC general contracting includes but is not limited to the survey, design, civil construction, installation, commissioning, and power transmission of the energy storage project; the procurement, transportation, storage, and testing of equipment and materials. Bidders are required to have at least one EPC or PC performance of a 5MWh or above electrochemical energy storage project from March 1, 2022, to the bid submission deadline (based on the contract signing date); or at least one performance in the design, construction, and equipment supply (must be LFP electrochemical energy storage system integration equipment, including at least battery prefabricated cabins, BMS, PCS, etc., with a cumulative supply of no less than 50MWh) of a 5MWh or above electrochemical energy storage project from March 1, 2022, to the bid submission deadline (based on the contract signing date) (which can be the design, construction, and equipment supply performance of different projects). For joint venture bids, each party of the joint venture should provide the performance corresponding to the division of labor in the joint venture agreement. The tender announcement for the EPC general contracting of the energy storage capacity expansion project supporting the 100MW expansion project of China Resources Qingyuan Lianzhou Fushan Wind Farm (Tender Announcement No. SZBGG2025040092) was issued by China Resources Shouzheng Tendering Co., Ltd., entrusted by the bid inviter, for the public tender of the EPC general contracting of the energy storage capacity expansion project supporting the 100MW expansion project of China Resources Qingyuan Lianzhou Fushan Wind Farm in the 23rd batch of tenders for the southern region of China Resources Power in 2025. I. Basic Information of the Project Bid Inviter: China Resources Wind Power (Lianzhou) Co., Ltd. Tendering Agency: China Resources Shouzheng Tendering Co., Ltd. Project Location: Xincun Village, Xingzi Town, Lianzhou City, Qingyuan City, Guangdong Province; Project Scale: 100MW Project Funding Source: Self-raised Tender No.: S03058825GZ0004P1 Project Name: 100MW Expansion Project of China Resources Qingyuan Lianzhou Fushan Wind Farm Section Name: EPC General Contracting for Supporting Energy Storage Capacity Expansion Tender Content and Scope: The EPC general contracting for the 10MW/10MWh energy storage project supporting the expansion project of China Resources Qingyuan Lianzhou Fushan Wind Farm includes but is not limited to the survey, design, civil construction, installation, commissioning, and power transmission of the energy storage project; the procurement, transportation, storage, and testing of equipment and materials. Details are as follows: (1) Survey, preliminary design, construction drawing preparation, and as-built drawing preparation for the energy storage project. (2) Equipment procurement and installation engineering. Procurement and installation of all equipment and materials for this project, re-inspection upon arrival, sampling inspection of battery cells and cables, pre-installation testing and laboratory testing of equipment and materials, system commissioning, trial operation, defect elimination, training, acceptance, safety protection facilities "three simultaneous" and final delivery and commissioning, warranty, etc.); (3) Civil construction engineering of the project. Including but not limited to site leveling, fencing, and internal road materials procurement, re-inspection upon arrival, construction, and acceptance work for the entire energy storage area; cable trenches, equipment foundations, gravel flooring, internal roads, etc., materials procurement, re-inspection upon arrival, construction, and acceptance work for the civil construction engineering of the above-mentioned areas; (4) Interface, coordination, and joint commissioning with the project's booster station section and the first phase 10MW/10MWh energy storage system section; all risks during the construction process; setting and parameter calculation and setting for energy storage, fire protection and power grid filing, commissioning, and acceptance; power grid adaptability testing and verification. Fire protection and video surveillance for energy storage equipment. (5) Interface and commissioning with the first phase 10MW/10MWh energy storage system, including primary and secondary transformation of the first phase energy storage system, EMS system transformation, fire protection system access, and video surveillance system access; (6) Project completion (including all tests) acceptance coordination, handover, and quality assurance services during the warranty period; also including project defect elimination, material, spare parts, special tools, consumables, and related technical data handover, personnel training, etc. As an EPC general contracting project, regardless of whether mentioned in this tender document, all work contents related to the design, construction, commissioning, procurement, transportation, storage, completion and commissioning, project inspection, file acceptance, completion settlement, project acceptance, and overall completion acceptance of this project are within the scope of this section. For details, please refer to Volume V Technical Specifications and Requirements. Main Indicators: Delivery Date/Construction Period: Design Completion Date: May 15, 2025 Construction Start Date: May 20, 2025 Equipment Arrival Date: June 30, 2025 Equipment Installation and Commissioning: July 15, 2025 Official Operation: July 25, 2025 Network Access Test and Simulation Modeling Completion Date: September 20, 2025 Completion Date: September 30, 2025 The specific start date is subject to the written notice from Party A, and the total construction period remains unchanged. Note: For detailed content, please refer to the tender document, which shall prevail. II. Bidder Qualification and Capability Requirements 1. Qualification Requirements: 1) The bidder (including joint venture members) is a legally registered independent legal person or other organization within the territory of the People's Republic of China, with the right to independently enter into contracts. 2) The bidder has a Class A comprehensive qualification for power engineering design, or a Class B or above qualification for power industry engineering design, or a Class B or above qualification for new energy professional engineering design in the power industry; 3) The bidder has a Class III or above qualification for power engineering construction general contracting, and has a Class IV or above qualification for power facility installation, repair, and testing (installation and testing); 4) For joint venture bids, joint venture members should have the corresponding qualifications according to the joint venture agreement. 2. Performance Requirements: The bidder (including joint venture bids) must meet the following requirements according to the scope of work: 1) The bidder has at least one EPC or PC performance of a 5MWh or above electrochemical energy storage project from March 1, 2022, to the bid submission deadline (based on the contract signing date); or at least one performance in the design, construction, and equipment supply (must be LFP electrochemical energy storage system integration equipment, including at least battery prefabricated cabins, BMS, PCS, etc., with a cumulative supply of no less than 50MWh) of a 5MWh or above electrochemical energy storage project from March 1, 2022, to the bid submission deadline (based on the contract signing date) (which can be the design, construction, and equipment supply performance of different projects). For joint venture bids, each party of the joint venture should provide the performance corresponding to the division of labor in the joint venture agreement. 2) Performance proof materials include but are not limited to: the front page (cover) of the contract, the project name page, the signing date page, the pages with signatures and seals of both parties, the contract scope page corresponding to the undertaken content, the supply list and construction period content page, etc. 3. Project Manager Requirements: (1) Possesses a first-class registered constructor (electromechanical engineering major) registration certificate and a valid safety production assessment certificate (Class B), and is registered with the bidder. For joint venture bids, the project manager should be assigned by the joint venture member undertaking the construction work according to the joint venture agreement, and the first-class registered constructor electronic registration certificate needs to be signed by the person. (2) Shall not concurrently serve as the project manager or person in charge of other construction projects. 4. Safety Requirements: (1) The bidder or the joint venture member responsible for construction must have a valid safety production license (a safety production license in a suspended state is considered invalid), and provide a scanned copy of the safety production license. (2) From March 1, 2022, to the bid submission deadline, the bidder (including joint venture bid members) has not had any major or above personal injury accidents or has not been included in the government safety supervision system, China Resources Group, or China Resources Power EHS blacklist. 5. Joint Venture Bidders: Allowed, with no more than 3 members. 6. Reputation Requirements: The bidder is not in the period or scope of punishment for dishonest behavior as announced on the following websites: 1) Listed in the list of seriously dishonest enterprises on the National Enterprise Credit Information Publicity System website (.cn); 2) Listed in the list of dishonest punishment on the National Public Credit Information Center "Credit China" website (.cn); 3) Listed in the list of dishonest executors on the Supreme People's Court China Enforcement Information Disclosure website (zxgk.court.gov.cn); 4) Listed in the "blacklist" of joint punishment for safety production dishonesty on the website of the Ministry of Emergency Management of the People's Republic of China (.cn); 5) Listed in the list of serious dishonest behavior records on the China Government Procurement website (.cn); The bidder needs to provide the query results on the above websites in the bid documents, and the query results should be the automatically generated PDF report electronic version or webpage screenshot. 7. Patent Requirements: If the equipment design plan adopts patents, the bidder must hold the relevant valid patent certificate and its creative patent evaluation report, or relevant patent authorization. 8. Other Requirements: For the core equipment of the energy storage system (energy storage battery cells, energy storage power conversion system (PCS), battery PACK, and battery system), at least one item must be produced and supplied by the equipment supplier, and have a type test report issued by a CMA/CNSA energy storage testing qualification agency.

Last Friday, April 11, Eastern Time, the US Customs and Border Protection (CBP) quietly released updated tariff rules, exempting import tariffs on categories including automatic data processors, computers, communication equipment, displays and modules, and semiconductor-related goods, unaffected by "reciprocal tariffs." On Saturday, Eastern Time, this exemption information was also confirmed by the White House. However, on Sunday, US President Trump and his senior trade officials released contradictory information, further intensifying confusion over his tariff plans. Trump: No Tariff "Exceptions" On Sunday afternoon, Eastern Time, Trump addressed the exemption news on his social media platform TruthSocial, stating that he would still "focus" on the semiconductor and electronics supply chain in the so-called "national security tariff investigation." "For the unfair trade balances and non-monetary tariff barriers used by other countries against us, no country can 'escape' punishment, " Trump wrote on social media, " No tariff 'exceptions' were announced last Friday... they were just moved to different tariff 'categories.' The fake news media knows this but refuses to report it. In the upcoming national security tariff investigation, we will still focus on semiconductors and the entire electronics supply chain. " Kevin Hassett, Director of the National Economic Council, stated that the US government is investigating semiconductors under Section 232 of the 1962 Trade Expansion Act. He mentioned that this clause allows the president to restrict imports of products deemed critical to US national security after an investigation. "Semiconductors are key and essential components of many defense equipment," Hassett said, "There will be a semiconductor Section 232, we will carefully study these issues and decide which products must be produced domestically." US Trade Representative Jamison Greer also stated on Sunday that although part of the executive order signed by Trump regarding exemptions was titled "Clarification of Exceptions," they are "not real exceptions." Greer said: "The reality is that this supply chain has shifted from the global tariff, reciprocal tariff system to the national security tariff system. " Earlier on Sunday, US Commerce Secretary Howard Lutnick stated on television that the exemptions for electronics and parts are only temporary, and that separate tariffs on electronics "will be introduced soon." "They are exempt from reciprocal tariffs, but they are included in the semiconductor tariffs that may be introduced in a month or two," he said, "So this is not a permanent exemption. (Trump) is just clarifying that these are not things countries can negotiate. These things are about national security, and we need to manufacture them in the US." Trump Faces a Credibility Crisis The latest statements from Trump's team have clearly dashed the hopes of consumers and the market. Tariffs mean that the import prices of US electronic goods will skyrocket, and this cost is usually passed on to consumers. This latest statement has further added to the confusion over Trump's tariff policies. In the past two weeks, Trump's tariff policies have changed multiple times. Democratic lawmakers stated on Sunday that these changes are leading to uncertainty and a credibility crisis for Trump. "President Trump now faces a credibility crisis," New Jersey Democratic Senator Cory Booker said bluntly on Sunday, "We are hearing voices from around the world. People don't know if they can trust him." Massachusetts Democratic Senator Elizabeth Warren warned that trade turmoil and uncertainty will deter businesses from investing in the US: "What we are seeing now is chaos. When Donald Trump keeps switching between red and green lights on tariffs, investors will not invest in the US."