【Global News】Trump's "One Big Beautiful Bill Act" Passes Senate! Multiple U.S. States Tighten Regulations on Single-Use Plastics, BASF Acquires Nylon Manufacturer

International News Digest:

Raw Materials - Acquisition Completed! BASF Fully Owns Nylon Intermediate JV Alsachimie

Automotive - SK chemicals Signs Exclusive Deal with Durmont to Supply Recycled PET for Car Carpets

Medical -Swiss medtech manufacturer opens first production facility in China / Expansion also planned for USA

Macro - Goldman Sachs: OPEC+ Output Hike Unlikely to Jolt Market if Decided Sunday

Price - USD/CNY Central Parity at 7.1546, Down 12 Pips

International News Details

1. Trump's "One Big Beautiful Bill Act" Passed

The Trump administration's "One Big Beautiful Bill Act" was passed by the U.S. Senate. Dubbed a 2.0 version of the "America First" policy, this massive tax and spending bill cleared a procedural vote in the Senate on June 28, 2025, by a 51-49 margin, and was finalized on July 1 with a 51-50 vote (with Republican Vice President Vance casting the tiebreaker). The House passed an earlier version in May by 215-214 and is expected to vote on the Senate-amended bill on July 3, aiming for Trump's signature by July 4.

2. Deadline Looms for Talks; Trump Rules Out Extending Tariff Grace Period

U.S. President Trump said on Tuesday (July 1) he has no plans to extend the tariff grace period ending July 9. In April, Trump imposed "reciprocal tariffs" on nearly all trading partners (rates tied to their U.S. trade deficits), later temporarily cutting them to 10% during negotiations. "No, I'm not considering a pause. I'll be sending letters to many countries," Trump said, referring to notices on July 9 informing nations of their applicable tariff rates.

3. Acquisition Completed! BASF Fully Owns Nylon Intermediate JV Alsachimie

BASF announced on July 1 it has acquired DOMO Chemicals' 49% stake in Alsachimie, making it the sole owner (up from 51% previously). The deal complements BASF's recent moves to strengthen PA66 production at its Chalampé site, following the June 12 launch of a world-class hexamethylenediamine (HMD) plant in France (boosting annual HMD capacity to 260,000 tons). Expansion of PA66 capacity at Freiburg, Germany, is also in final stages.

4. States Crack Down on Single-use Plastics Starting July 1

5. SK chemicals Signs Exclusive Deal with Durmont to Supply Recycled PET for Car Carpets

SK chemicals signed an exclusive agreement with Austrian automotive carpet maker Durmont and South Korean logistics firm Paarang at its Seoul ECOLAB headquarters. The trio has developed yarns, carpets, and floor mats using SK chemicals' CR (chemical recycling) PET solution, meeting automotive testing and quality standards. Under the deal, SK chemicals will supply Durmont with SKYPET® CR – a 100% recycled, ISCC PLUS-certified, fully recyclable material – to accelerate supply chain development and market promotion.

6. IMCD Acquires Apus Química, a Plastics and Rubber Developer

7.Toy Giant Posts 7th Consecutive Profit Growth, Staff Reaches 1,689

The Lego Group reported its 7th straight UK sales record, with plans to move to a new London headquarters by 2027. Lego UK's 2024 pre-tax profit rose to £42.9 million (from £24.2 million in 2023), with revenue exceeding £501.7 million (up from £449.2 million) – marking seven years of consecutive sales and profit growth.

8. Nike Struggles with $1B Tariff Losses; China Supply Chain Share Slashed

Nike expects up to $1 billion in losses for fiscal 2026 due to tariffs (equivalent to three months of China profits). Its China supply chain share, currently 16%, is set to halve as production shifts to Vietnam, Indonesia, etc., targeting below 10%.

9. Swiss medtech manufacturer opens first production facility in China / Expansion also planned for USA