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Tesla Inc said on Friday that is developing plans to start producing about 3,000 Model 3 vehicles per week in Shanghai in the initial phase of its Gigafactory 3 to reduce the impact of tariffs.
The company also said in a filing that Model S and Model X sales in China have been, and will likely continue to be, hurt by recently increased tariffs imposed by the Chinese government on U.S.-manufactured vehicles.
The electric carmaker said it continues to push to increase Model 3 production to about 10,000 units per week.
Tesla also expects to continue to increase its Model 3 production rate to about 7,000 units per week at its Fremont, California factory.
China is the largest market for electric vehicles, and most forecasters predict that electric vehicle sales in the country will accelerate rapidly as government regulation drives toward a goal of 100-percent electric vehicles by 2030.
U.S. President Donald Trump’s sanctions on Iran aim to eliminate its oil trade, "paralyzing" Iran's economy, thus boosting Trump's reelection hopes, even though most countries oppose these sanctions, said a regional analyst late Thursday.The first phase of the U.S. sanctions on Iran impacted sectors like automotive, banking, and mining and the second phase will mainly target the country's oil exports, which Iran's economy depends on, Hakkı Uygur, vice director of the Center for Iranian Studies (IRAM), told a panel on "Iran Sanctions, Impacts on Turkey and the Region" organized by the Foundation for Political, Economic and Social Research (SETA) in the Turkish capital Ankara.In May, Trump unilaterally withdrew his country from the 2015 landmark nuclear deal signed between Iran and the P5 1 group of nations -- the five permanent UN Security Council members: the U.S., Russia, China, Britain, and France, plus Germany. He also announced that he would reinstate sanctions against Tehran, which were lifted by the agreement in exchange for tight restrictions on the country's nuclear program.The U.S. in August re-imposed the first round of economic sanctions on Iran, which mainly target the country’s banking sector.Iran says report of US oil waivers shows market needs Iranian crudeThe second phase of sanctions, targeting Iran’s energy sector, is set to go into effect on Nov. 5."If Trump manages to cut off the country's oil trade, this will lead to a paralyzed Iran economy," Uygur underlined.However, Uygur said, this is not a good way to bring Iran to the table because the Iranian people know Trump wants to create a victory out of this process before he is up for reelection in 2021."Iran has two options,” Uygur explained.“They will either wait for the end of Trump's term, which is the dominant attitude now, or they will see how the sanctions work. But I can say that Iran's hand is strong this time because almost all countries are against the sanctions."Uygur also said Turkey, as a neighbor to Iran, wants stability in the region and imports almost half of its oil needs from the country."Turkey also imports a significant amount of gas and does trade to Central Asia through Iran," he said.Israeli official says Khashoggi death 'despicable', but Iran greater challengeSanction exemption talks between Turkey, USKemal Inat, SETA's assistant general coordinator and director of energy studies, warned that Turkey itself will face U.S. sanctions if the country acts against the U.S.' reimposed Iran sanctions."Turkey is talking with the U.S. about being exempted from the sanctions, but I don’t think they will be successful. If Trump's main aim is eliminating Iran’s oil trade entirely, then he will definitely want Turkey to stop buying oil from Iran at some point," he said.US grants eight countries Iran sanctions waivers
US oil sanctions on Iran threaten 'paralyzed' economy
China promised to support Pakistan's economy on Friday as new Pakistani Prime Minister Imran Khan told of his country's "very difficult" economic situation amid a burgeoning financial crisis.Pakistan's foreign reserves have plunged 42 percent since the start of the year and now stand at about $8 billion, or less than two months of import cover.Last month, Pakistan received a $6 billion rescue package from Saudi Arabia, but officials say it is not enough and the country still plans to seek a bailout from the International Monetary Fund (IMF) to avert a balance of payments crisis.It would be Pakistan's 13th rescue package from the multilateral lender since the late 1980s.Pakistan: Talks falter, more Aasia Bibi protests loomMeeting Chinese President Xi Jinping in Beijing's Great Hall of the People, Khan said he'd come to China to learn."My party has only been in power for two months. Unfortunately we have inherited a very difficult economic situation," Khan said."Countries go in cycles. They have their high points, they have their low points. Unfortunately, our country is going through a low point at the moment with two very big deficits, a fiscal deficit and a current account deficit. And so we, as I’ve said, have come to learn."Xi told Khan that he highly valued the two country's relations, reaffirming they were "all-weather" friends.Video: Imran Khan meets China's Xi in first official visit to Beijing"I attach great importance to China-Pakistan relations and am willing to work together with the prime minister to strengthen the China-Pakistan all-weather strategic partnership and build a new era of China-Pakistan destiny," Xi said.Neither man mentioned any economic aid in comments made in front of reporters.However, the Chinese government's top diplomat, State Councillor Wang Yi, told Pakistani Foreign Minister Shah Mahmood Qureshi in a separate meeting that China would not let Pakistan down."The Chinese side will continue to provide support and help to the best of its ability for Pakistan's economic and social development and national construction," China's Foreign Ministry cited Wang as saying, without giving details.Khan will meet Chinese Premier Li Keqiang on Saturday, when the two countries are expected to sign a series of agreements.Though China is Pakistan's closest ally, Khan's newly elected government has sought to re-think the two countries' signature project, the $60 billion China-Pakistan Economic Corridor (CPEC), which Beijing touts as the flagship infrastructure programme in its vast Belt and Road Initiative.Pakistan has sought to amend CPEC to put greater emphasis on projects that focus on social development, rather than purely on infrastructure.After visiting Beijing, Khan is set to be a key note speaker at a major import fair in Shanghai, an event being touted by China as an opportunity to show the world the country welcomes foreign companies and their products.Khan is in China amid unrest at home over the acquittal of a Pakistani Christian woman on death row for blasphemy, which has prompted an ultra-Islamist party to block roads in protest. 
China promises Pakistan support as Khan tells of 'very difficult' economy
China’s foreign ministry said on Friday that the previous day’s telephone call between Chinese President Xi Jinping and U.S. President Donald Trump was quite positive.The two heads of state think they should enhance trade relations, ministry spokesman Lu Kang told a daily news briefing.Trump asks officials to draft possible trade deal with China
China says Xi-Trump call was quite positive