Archive for the ‘International Trade’ Category

Canada, International Trade, News

December 6, 2023

Canada has reported a trade surplus larger than anticipated, amounting to C$2.97 billion ($2.19 billion) in October, according to data from Statistics Canada. This surplus comes as exports experienced a slight increase, while imports registered a significant decline.   Analysts participating in a Reuters poll had forecasted a trade surplus of C$1.60 billion. September’s surplus […]

In a bid to prevent import tariffs on electric vehicles (EVs) traded between the European Union (EU) and the United Kingdom (UK), the EU has put forth a proposal for a three-year extension to the tightening of trade rules, originally slated to take effect next year.   The EU and the UK represent each other’s […]

International Trade, News

December 1, 2023

In a momentous development, two prominent international organizations have come together to address urgent global challenges. The World Trade Organization (WTO) and the United Nations Food and Agriculture Organization (FAO) have recently forged an agreement to strengthen their cooperation and collaboration in areas encompassing food and agricultural trade and climate change. This agreement, signed on […]

International Trade, News

December 1, 2023

In a significant development, key players from standard-setting bodies, international organizations, steel producers, and industry associations have united to endorse a set of principles aimed at revolutionizing the measurement of greenhouse gas emissions within the steel sector. The momentous partnership, known as the Steel Standards Principles, received a warm welcome from Director-General Ngozi Okonjo-Iweala on […]

China, International Trade, News, Vietnam

November 30, 2023

China and Vietnam are engaged in discussions to potentially enhance their underdeveloped railway connections, with the aim of bolstering a rail line that traverses Vietnam’s rare earths-rich region and connects to the country’s primary northern port. Senior officials and diplomats have confirmed these talks, which coincide with preparations for a potential visit to Hanoi by […]

China, International Trade, News

November 30, 2023

In a significant development aimed at improving relations between China and Australia, China has officially announced its intention to review the anti-dumping and anti-subsidy tariffs imposed on Australian wine imports. This long-anticipated move is seen as a crucial step towards easing tensions and enhancing trade cooperation between the two nations.   China’s Commerce Ministry issued […]

In response to evolving global dynamics and supply chain uncertainties, Hota Industrial Mfg. Co, a renowned Taiwanese auto parts manufacturer, is making a strategic shift by establishing its first manufacturing facility in the United States. For decades, Hota has been a key supplier of gears, shafts, and other automotive components to major foreign car manufacturers […]

International Trade, News

November 29, 2023

In a significant development, Bolivia is poised to become a full-fledged member of the South American Mercosur trade bloc, following the approval of its admission by the Brazilian Senate on Tuesday. This crucial step towards bolstering regional trade ties is expected to be formally ratified during a regional summit scheduled for December 7 in Rio […]

Europe, International Trade, News

November 23, 2023

In a landmark move to promote sustainable marine fisheries, the European Union has generously donated â‚ ¬1 million to the World Trade Organization’s Fisheries Funding Mechanism. This multi-year contribution, presented by Ambassador JoÁ £o Aguiar Machado to WTO Director-General Ngozi Okonjo-Iweala, is a significant step toward assisting developing and least-developed members in implementing the Agreement […]

International Trade, Japan, News, Vietnam

November 23, 2023

An upcoming visit by Vietnamese President Vo Van Thuong to Japan is poised to mark a significant chapter in the bilateral relations between Vietnam and Japan. This visit, slated for next week, will be President Thuong’s inaugural official trip to Japan and aligns with the 50th anniversary celebrations of diplomatic ties between the two nations. […]

China, International Trade, News

November 22, 2023

In a strategic move to expand its international trade relations, Uruguay has elevated its ties with China, aligning its level of engagement with that of its fellow Mercosur members, Brazil and Argentina. This development signifies Uruguay’s ambition to explore beneficial deals beyond its regional trade bloc, while China continues to deepen its connections in South […]

At the Asia Pacific Economic Cooperation (APEC) forum in San Francisco, President Joe Biden emphasized his commitment to furthering a Pacific trade pact, focusing on workers’ rights and maintaining stable relations with China. Addressing top corporate executives, Biden expressed determination to continue promoting trade that prioritizes strong labor standards.   Despite challenges in aligning the […]

International Trade, News, Philippines

November 16, 2023

In a historic move, the United States and the Philippines have inked a groundbreaking agreement that opens the door for Washington to export nuclear technology and materials to Manila. This landmark deal signifies the Philippines’ exploration of nuclear power as a means to decarbonize its energy sector and enhance energy independence.   U.S. Secretary of […]

International Trade, News

November 16, 2023

In a recent address at the 2023 Asia Pacific Economic Cooperation (APEC) Leaders Meeting in San Francisco, Deputy Director-General Angela Ellard emphasized the crucial role of the World Trade Organization (WTO) in building a more open, dynamic, resilient, inclusive, and peaceful Asia-Pacific community. She called upon APEC to take the lead in reforming the multilateral […]