Global News: U.S. China Agree To Limit Emissions While Chinese Steel Production Falls
What happens abroad impacts MSCI members in North America. Here is the latest economic, trade, and other policy news of note for the last week:
- On November 15, the United States and China announced a joint partnership to speed up renewable energy development through 2030. The two countries also committed to work together to reduce emissions of methane, nitrous oxide, and hydrofluorocarbons. The agreement did not set specific emissions targets, however. Read more here.
- China’s crude steel output fell for the fourth consecutive month due to the fact that more mills resorted to furnace maintenance amid disappointing demand. Output was down 3.7 percent to 79.09 million metric tons in October from 82.11 million tons in September. Average daily crude steel output was 2.55 million tons, down 6.8 percent from September and the lowest level since December 2022. Read more at Hellenic Shipping News.