Volkswagen plans to build a new plant in Georgia, U.S., for its luxury Audi brand and to expand its existing plant in South Carolina.

On Oct. 23 the U.S. Treasury published a proposed rule tightening outbound investment restrictions and seeking public comment. MOFCOM said the proposal discriminately broadens restrictions on China and applies a generic national-security approach, contrary to leaders' consensus, and that it disrupts normal bilateral commercial cooperation and the international trade order. China expressed serious concern and firm opposition, said it will closely monitor developments and reserves the right to take countermeasures. MOFCOM noted China's large market and investment potential, warned U.S. limits would harm Sino-U.S. economic cooperation and U.S. firms' interests, and urged Washington to respect market economics and stop politicizing and weaponizing trade.

The Philippine Air Force confirmed on the 24th that two SF-260 training aircraft collided on the 23rd during exercises over Batangas province, Luzon, killing four air force pilots. The aircraft collided at 15:51 and crashed near an airbase in Lipa City. The Air Force has grounded all SF-260s. The SF-260 is an Italian-built light trainer used by the Philippine Air Force. On May 20 an SF-260 crashed in Benguet province, Luzon, killing two.