China/Economy & Industry
- He Lifeng to lead delegation to South Korea on May 12–13 for economic and
trade talks with the US
- BYD, Tesla and six other automakers deny reports they were summoned by
regulators
- China Association of Automobile Manufacturers: online claims that NEV makers
were over investigated battery-locking issues are false
- China’s Q1 2026 gold output fell 7.08% year-on-year to 81.065 tons; gold
consumption rose 4.41% to 303.292 tons
US / Trade & Policy
- US Energy Secretary: administration open to suspending fuel taxes
- Trump orders all federal agencies to prioritize purchases of American-made
products, "without exception"
- US Treasury Secretary Bessent: departing Monday for Japan and South Korea for
a series of brief meetings
Geopolitics – US–Iran
- Sources: Iran has rejected the US proposal
- Iran’s response to the US proposal was delivered through Pakistan and
reportedly focused on “ending the war and maritime security”
- Trump says he dislikes Iran’s response and calls it “totally unacceptable”
- Iranian media: Trump’s reaction to Iran’s response is irrelevant
- Trump: the US has been monitoring Iran’s enriched uranium buried under rubble
and would know immediately if anyone approaches it, adding it would be destroyed
if necessary
