Archive for the ‘International Trade’ Category

International Trade, News

October 5, 2023

The latest release of the “Global Trade Outlook and Statistics” by the World Trade Organization (WTO) offers revised projections for global trade in 2023 and 2024. In 2023, the WTO has revised its forecast for the growth of world merchandise trade volume, downgrading it to 0.8%. This is less than half of the 1.7% growth […]

International Trade, News

October 5, 2023

On October 5, the WTO Sub-Committee on Least-Developed Countries (LDCs) delved into the role of preferential rules of origin in expanding trade opportunities for LDCs. The session also featured an experience-sharing segment where representatives from academia and the private sector shed light on the challenges and opportunities LDCs encounter when making use of trade preferences. […]

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 […]

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.   […]

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 […]

International Trade, News

October 3, 2023

In a recent address at the John Snow Society’s Pumphandle Lecture, Dr. Ngozi Okonjo-Iweala, the Director-General of the World Trade Organization (WTO), highlighted the critical intersection of global health equity and international trade. Dr. Okonjo-Iweala discussed the role of trade in addressing health challenges and emphasized the need for a collaborative approach to ensure equitable […]

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 […]

International Trade, News, Thailand

September 28, 2023

Thailand’s newly-appointed Prime Minister, Srettha Thavisin, announced a series of forward-looking measures aimed at solidifying Thailand’s position as a leading destination for foreign investments. This includes the ambitious endeavor of expanding the nation’s existing Free Trade Agreements (FTAs) portfolio.   Addressing a key forum today, Prime Minister Srettha shed light on his vision to upgrade […]

The International Trade Council reports that China’s chief trade body has made a formal appeal to the United States, urging a thoughtful reevaluation of recent restrictions targeting investments in China’s technological domain.   Last month, U.S. President Joe Biden ratified an executive order barring or curbing investments into Chinese ventures, notably in pivotal sectors such […]

International Trade, News

September 26, 2023

In a dedicated effort towards the reform of the World Trade Organization (WTO), members convened for an informal retreat at the organization’s headquarters on September 25-26. This retreat served as a platform for focused discussions on trade and industrial policy, aiming to facilitate deliberations on the intersection between trade and industrial policy and to identify […]

Germany, International Trade, News

September 26, 2023

A recent survey conducted by the Ifo economic institute revealed that sentiment among German exporters has deteriorated significantly in September, reaching its lowest level since May 2020.   The Ifo institute’s export expectations indicator, in its fifth consecutive month of decline, dropped to minus 11.3 points in September, down from minus 6.5 points in August. […]

Brazil, International Trade, News, Vietnam

September 25, 2023

Brazilian President Luiz Inacio Lula da Silva announced on Monday that Vietnam has shown interest in establishing a trade deal with the Mercosur bloc, consisting of Brazil, Argentina, Paraguay, and Uruguay. Lula, who is currently chairing the Mercosur group, aims to foster closer relations between Mercosur members and Asian countries. He highlighted the potential for […]

International Trade, United Kingdom

September 25, 2023

In an innovative move showcasing adaptability and strategic foresight, the United Kingdom marked a significant milestone in international trade relations on Monday by finalizing a memorandum of understanding (MoU) focused on trade with the U.S. state of Washington. This development, a commendable pivot in the UK’s post-Brexit strategy, comes amidst a pause in negotiations for […]

The International Trade Council is pleased to report on the signing of a significant Free Trade Agreement (FTA) between the Philippines and South Korea. This momentous occasion took place during the 43rd Association of Southeast Asian Nations (ASEAN) Summit in Jakarta, Indonesia, and is poised to strengthen economic ties and promote increased cooperation between the […]