The negotiation on the upgrade of the China-Secret free trade agreement has been completed, and new opportunities for economic cooperation have ushered in!
July 2, 2024
On June 28, Chinas Commerce Ministry Minister Wang Ventao and Perus Foreign Trade and Tourism Ministry Minister Gardo jointly signed the Memorandum of Understanding between the Ministry of Commerce of the Peoples Republic of China and the Ministry of Foreign Trade and Tourism of the Republic of Peru on the substantial completion of the China- Peru Free Trade Agreement upgrading negotiations.
ExxonMobil and SK On sign a 100,000-ton lithium supply agreement!
27 June 2024
On June 25, 2024, U.S. energy giant ExxonMobil announced a non-binding agreement with Korean SK Group’s battery manufacturing subsidiary SK On. Under the agreement, ExxonMobil will supply SK On with lithium from its proposed Arkansas state project. This partnership marks the two companies’ important strategic layout in the electric vehicle battery supply chain and is expected to...
Shipping prices have tripled, so where will global trade go?
June 26, 2024
In the field of international trade, fluctuations in shipping prices often affect the nerve of the global economy. In June 2024, the flat shipping market saw a surge in shipping costs. According to Freightos’s main shipping platform, the container cash price index FBX shows that international shipping charges rose from about $1,200 per flight in 2023 to $4,500 today, compared to January by Red Bull.
14th round of EU sanctions on Russia: 19 Chinese companies seriously hurt!
June 25, 2024
On June 25, 2024, the Council of the European Union officially announced the 14th round of sanctions against Russia, putting 61 entities, including Russia, China, Kazakhstan, Kyrgyzstan, Turkey and the United Arab Emirates, on the blacklist of those directly supporting the Russian military and industrial complexes to launch war.
U.S. economic recovery signal: The rebound in cardboard box prices heralds growth!
24 June 2024
For many, it may be difficult to imagine that seemingly unobtrusive cardboard boxes are actually an important indicator of the macroeconomic health of the United States. Cardboard boxes are a key component of the supply chain and are widely used in e-commerce transactions and store shipments. Therefore, cardboard demand and price data have been used by economists to judge the health of the overall macroeconomy.
Exports to Mexico need to be vigilant, low-cost customs declarations are identified as smuggling and fraud
June 21, 2024
Recently, the National Tax Administration of Mexico (SAT) issued an announcement announcing the upcoming revision of foreign trade rules to define low-cost tariff avoidance by e-commerce platforms and express companies in the process of importing clothing, electronic products, toys and other goods as smuggling and tax fraud. This initiative aims to tackle e-commerce platforms and cross-border logistics companies to exploit tariff regulatory vulnerabilities.
China has launched an anti-dumping investigation into EU pork, and a trade conflict is imminent!
20 June 2024
On June 17, the Chinese Ministry of Commerce issued an announcement, declaring that it would initiate an anti-dumping investigation into imported pork and pork by-products originating from the European Union starting from June 17, 2024. This decision quickly triggered a tense reaction from major pork exporting countries in the EU, including Spain, the Netherlands, France, and Denmark. Spain: Seeking to Avoid Trade Conflicts After China announced the anti-...
The Panama Canal is facing a water shortage crisis, and the shipping industry has ushered in new challenges!
18 June 2024
The Panama Canal, known as the “Golden Water Route”, connects the Atlantic and Pacific oceans and covers an important hub of global maritime transportation, and 180 maritime routes have passed through it, connecting 2,000 ports around the world. However, this “human engineering miracle” has faced a severe water shortage crisis in recent years.
The global garment industry is in a cold state, and the decline in demand has caused the market to worry!
17 June 2024
In March 2024, the global apparel industry experienced a significant slowdown, with import and export data in major markets showing a downward trend. According to a May 2024 report by Wazir Advisors, this trend is consistent with declining retailer inventory levels and weakening consumer confidence, reflecting a concerning near-term outlook. Major importers in the global apparel market, such as the United States, the European Union, and the United...
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