Vietnams exports continue to decline, and companies exit the market at a record high
August 8, 2023
As a country that relies on trade, recent economic data are worrying. The latest economic data from the Bureau of Statistics of Vietnam shows that a five-month consecutive decline in exports has set the country’s longest consecutive decline record in 14 years. This trend means that for this Southeast Asian country, achieving the year-round economic growth goal has become more difficult. This year’s January to July, the...
Responding to the International Trade Relief Survey: the assistance and strategy of the Pudong International Chamber of Commerce in Shanghai
August 7, 2023
In the current international trade environment, instability and uncertainty are increasing, while unilateralism and protectionism are also increasing. Faced with this background, the Pudong International Commerce Council of Shanghai, under the guidance of the Shanghai City Commerce Commission, provides foreign legal public services to small and medium-sized enterprises to help them cope with these challenges.
Indias export ban triggered soaring prices and emergency contract adjustments
3 August 2023
The Indian government recently announced a ban on exports of non-Indian shampoo to ensure domestic supply. This move rapidly led to rising global rice prices, and rice traders from major exporting countries such as Thailand and Vietnam are urgently negotiating to adjust sales contracts for 500,000 tons of rice. At the same time, importing countries such as the Philippines are also considering increasing rice reserves and increasing imports to address potential supply shortages.
July 2023 Update of Multinational trade policies and Restrictive measures
2 August 2023
In July 2023, many countries, including India, Brazil, Russia, Serbia, the United States, etc., issued new trade restrictions and bans. These policy changes involve rice, gold jewelry, medical marijuana, foods containing trans fat, cocoa, marijuana flowers, fish and seafood, drones, oil, weapons ammunition, querclorethylene and many other commodities.
New Zealand bans sale of many single-use plastics
1 August 2023
From July 1, 2023, according to the three-step plan of the New Zealand Ministry of Environments Revised Regulation on Minimizing Waste (Plastics and Related Products) 2022 issued in November 2022, New Zealand will ban the sale of multiple single-use plastic products throughout the country.
China fell to the third place in U.S. commodity imports for the first time
28 July 2023
Recently, according to U.S. media reports, China’s share of U.S. commodity imports fell to third place for the first time in 15 years. Since 2009, China has been the largest commodity importer of the United States, but has now been outpaced by Mexico and Canada. The interpretation of this situation requires consideration of multiple factors. According to data from the U.S. Department of Commerce, January 2023...
Japans trade deficit decreased in the first half of 2023 and achieved a trade surplus in June
27 July 2023
In statistics released by the Ministry of Finance of Japan on July 20, 2023, the Japanese trade deficit reached 6.96 trillion yen in the first half of this year due to the growth of imports compared to exports, and the Japanese trade deficit has continued since the second half of 2021.
India bans some rice exports, global food prices may rise further
26 July 2023
The government of India announced on July 20 that it would ban the export of rice, except for Indian shrimp, in order to ensure that there is sufficient supply of rice in the domestic market and to mitigate the rise in market prices.This move could lead to about half of the world’s largest rice exporter’s exports, raising concerns that global food prices could rise further.
UPS faces potential massive strike in US
24 July 2023
UPS unions are struggling to raise part-time wages and have appealed to workers to strike. Shawn OBrien, chairman of the International Truck Drivers Brotherhood, said in a live broadcast on July 16 to union members that if a new agreement cannot be reached before the July 31 contract expires, the unions will start strike on August 1.
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