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Under pressure from U.S. trade unions, the U.S. government may impose restrictions on the Chinese shipbuilding industry, which could provide market opportunities for competitors such as South Korea.

South Koreas Minister of Industry and Commerce Resources, Andrgen, announced that the government will strongly support the semiconductor industry, especially in the field of high bandwidth memory and AI chips, to an export target of $120 billion annually.

The EU intends to impose import duties on Russian white grain to ease the dissatisfaction of local farmers with the influx of Ukrainian agricultural products. It is that the EU will impose a tariff of €95 per ton of Russian white grain and a tariff of 50% on oil seeds, but only for the supply of internal consumption within the EU. This is considered reasonable to balance the interests of all parties and avoid a complete cut in the supply of Ukrainian agricultural products to the European market.

South Korea’s automotive exports fell by 7.8 percent in February, and new energy vehicle exports fell by 15.3 percent, facing multiple challenges such as weak global markets and rising costs.

The EU is planning to launch a review assessment of the risks of relying on China’s mature process chips, a move that could work with the United States on technology security to arouse global supply chain concerns.

In early 2024, the import and value of semiconductor equipment in Shanghai increased significantly, reflecting the strong demand of the semiconductor industry and the dynamic changes in the global market.