Nissan is cutting production costs for vehicles made in Mexico to offset US tariffs, the company's CEO said.

Saudi, the world’s largest oil exporter, is increasing shipments out of the Persian Gulf and has sold spot crude to Asian buyers, traders said. State-owned ARAMCO has sold at least 6 mln barrels of crude to customers including South Korea and Japan; the cargoes will be loaded on three supertankers. Middle East producers lifting output have pushed regional crude prices sharply lower. ARAMCO has resumed loadings at Ras Tanura, its main Persian Gulf export terminal. Traders said such spot sales are highly unusual because ARAMCO typically sells to term buyers at monthly official selling prices; the volumes will count toward buyers’ annual contracted allocations.

July 1 — Alibaba’s cross-border platform AliExpress published, for the first time, China-brand overseas sales rankings for the 618 shopping festival across 10 categories including mobile phones, auto parts, consumer electronics, computers, sportswear and cycling. Mobile top three: POCO (Xiaomi sub-brand), Xiaomi and Honor. In home appliances, pool-cleaning robot maker SEAUTO ranked fourth; Midea, Tineco and ILIFE also made the list. Lenovo and Xiaomi were first and second in computers and office equipment. Li‑Ning, Xtep and 361° were the top three Chinese sportswear brands overseas. 3D-printing leaders: ANYCUBIC first, followed by ELEGOO, Creality and Bambu Lab.