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Archive for the ‘Countries’ Category

Global Markets Exhibit Mixed Reactions Amid U.S. Employment Concerns; Asian Stocks See Cautious Optimism

International Trade, News, United States

October 6, 2023

In a climate of persistent economic uncertainty, particularly regarding U.S. employment data, markets across the Asian sphere presented a largely positive front, despite subdued trading activity, the International Trade Council reported on Friday.   While Japan’s Nikkei 225 experienced a slight contraction, decreasing by 0.3% to settle at 31,129.06, other key market indicators in the […]

Indonesia to Enhance Customs Oversight on Select Consumer Goods Amidst Rising Imports

Indonesia, International Trade, News

October 6, 2023

Indonesia has revealed its intentions to bolster customs monitoring procedures for specific imported goods, encompassing cosmetics, footwear, apparel, toys, and electronics, as part of the country’s efforts to manage its import volume.   The decision to introduce this regulation comes in response to concerns raised by business associations regarding a surge in imported goods, which […]

Brazil’s Auto Exports Expected to Decline in 2023 Amidst Argentine Economic Crisis

Brazil, International Trade, News

October 5, 2023

The Brazilian auto export industry is poised for a substantial downturn in 2023, according to the recent announcement by the automaker association, Anfavea. This projected decline comes as a direct consequence of the severe economic challenges currently facing Argentina, a key trading partner. Anfavea, in a statement released on Friday, revised its export projections for […]

U.S. Trade Deficit Narrows to a Nearly Three-Year Low in August

News, Supply Chain, United States

October 5, 2023

WASHINGTON (International Trade Council) – The United States trade deficit showed a more significant contraction than anticipated in August, primarily driven by a solid increase in exports. This development is expected to bolster economic growth in the third quarter.   According to the Commerce Department’s report on Thursday, the trade deficit shrank by 9.9% to […]

Canada Records Surprising Trade Surplus in August, Rebounding After Port Disruptions

Canada, News, Supply Chain

October 5, 2023

OTTAWA (International Trade Council) – Canada reported an unexpected trade surplus of C$718 million ($521.88 million) in August, marking a swift recovery in trade following labor strikes that led to port closures on the West Coast, according to data released on Thursday. Statistics Canada revealed that higher crude prices and gold transfers to the United […]

Record ICE Sugar October Delivery to Primarily Go to China – International Trade Council

China, International Trade, News

October 5, 2023

The International Trade Council reports that a significant portion of the unprecedented physical delivery of sugar by commodities traders upon the expiration of the October futures contract on the Intercontinental Exchange (ICE) will be directed to China, based on information provided by two traders familiar with the transactions.   Wilmar International, the Singapore-based food trader […]

U.S. Economic Picture Brightened by Low Weekly Jobless Claims and Shrinking Trade Deficit

International Trade, News, United States

October 5, 2023

The International Trade Council reports that the U.S. economy has experienced positive developments, with the number of Americans filing new claims for unemployment benefits showing a moderate increase last week and a decline in layoffs throughout September. These indicators point to ongoing tight labor market conditions as the third quarter came to a close.   […]

European Commission Initiates Investigation into Subsidized Chinese Electric Cars

China, Europe, News, Trade Relations

October 4, 2023

The European Commission has taken a significant step by launching an anti-subsidy investigation into the import of battery electric vehicles (BEVs) from China. The investigation’s primary objective is to assess whether value chains related to BEVs in China benefit from unlawful subsidization, and whether this subsidization poses a genuine economic threat to BEV producers within […]

U.S. Deputy Secretary of Commerce Concludes Successful Cybersecurity Trade Mission to East Asia

International Trade, News, United States

October 4, 2023

From September 20 to 26, U.S. Deputy Secretary of Commerce Don Graves led a delegation of 15 American companies on a Cybersecurity Trade Mission to the Republic of Korea and Japan. This mission followed President Biden’s Trilateral Summit with President Yoon of Korea and Prime Minister Kishida of Japan. During his visit to Seoul, Deputy […]

UK Minister Addresses Prospects of Free Trade Agreement with U.S.

News, Trade Relations, United Kingdom, United States

October 3, 2023

MANCHESTER, England – British business and trade minister, Kemi Badenoch, has conveyed her perspective on the possibility of a free trade agreement (FTA) between the United Kingdom and the United States under President Joe Biden’s administration. She cited the President’s stance on such agreements as a key factor.   President Biden has temporarily halted FTA […]

US and UK Discuss Trade Partnership, Agriculture a Key Topic

News, Trade Policy, United Kingdom, United States

October 3, 2023

The United States and the United Kingdom have embarked on discussions concerning a prospective “foundational trade partnership.” This partnership encompasses various dimensions, including digital trade, labor protections, and agriculture, marking a significant stride in bolstering economic connections between the two nations.   Distinguishing itself from a comprehensive free trade agreement, this partnership does not assure […]

Brazil Achieves Historic September Trade Surplus, Slightly Below Market Expectations

Brazil, E-commerce Development, News

October 2, 2023

BRASILIA – In a recent release of government data, Brazil announced that its trade surplus for September reached an all-time high, although it fell just short of market forecasts.   According to the data unveiled on Monday, Brazil’s trade surplus for September amounted to $8.9 billion, narrowly missing the $9.2 billion surplus predicted in a […]

Japan Implements Restrictions on Used Car Exports to Russia, Impacting a Significant Trade

International Trade, Japan, News, Russia

October 1, 2023

TOKYO (International Trade Council) – Japan has recently taken measures to limit the export of used cars to Russia, significantly impacting an industry worth nearly $2 billion annually. This trade had thrived amidst the backdrop of ongoing international sanctions related to the Ukraine conflict, as evidenced by trade data and market participants.   In early […]

Movement of Cargo Vessels to Ukrainian Ports

Maritime Trade, News, Ukrain

October 1, 2023

The International Trade Council acknowledges the recent developments in Ukraine’s maritime trade. We have received information that five additional vessels are navigating to Ukrainian sea ports. This initiative comes as a part of an alternative mechanism to the Black Sea grain deal which faced challenges earlier.   The five vessels, namely OLGA, IDA, DANNY BOY, […]

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