China’s Ministry of Commerce reportedly met on Tuesday with executives from Walmart, following reports that the U.S. retail giant was trying to force Chinese suppliers to lower prices to absorb U.S. government tariffs and shield American consumers from price increases. U.S. Treasury Secretary Scott Bessent said in March that China would “eat” the cost of tariffs. A post on Yuyuantantian, a Weibo account affiliated with the state media, said such demands risk global supply chains and hinted that Walmart could expect further action. (BLOOMBERG)

Thirteen workers have been killed since June 2023 at a massive iron ore project in Guinea run by Australia’s Rio Tinto and a consortium of Chinese companies. None of the casualties were reported publicly. Simandou is the world’s largest untapped iron ore reserve. The long-delayed project also includes a rail line and port facilities. A report into one incident found that a subcontractor on the project, Shaanxi Construction Engineering Group Corporation, did not follow safety protocols. (REUTERS)