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Archive for the ‘News’ Category

WTO to Spotlight Trade’s Vital Role in Climate Action at COP28 in Dubai

International Trade, News

November 9, 2023

In a significant move, the World Trade Organization (WTO) is gearing up to emphasize the pivotal role of trade policies in combating climate change at the upcoming UN COP28 Climate Change Conference in Dubai, scheduled from November 30 to December 12. A dedicated portal has been launched to provide information about the WTO’s involvement in […]

EU Aims to Resolve U.S. Steel Dispute, Hoping for Year-End Agreement

Europe, International Trade, News, United States

November 9, 2023

The European Commission is actively pursuing an agreement with the United States regarding steel and aluminum trade, with the goal of ending U.S. import tariffs on these metals by the close of the year. Commission Vice President Vera Jourova made this announcement, underscoring the European Union’s determination to find a resolution. Negotiations between U.S. […]

Taiwan and Britain Forge New Trade Partnership, Strengthening Global Ties

International Trade, News, Taiwan

November 8, 2023

In a significant development, Taiwan and Britain have inked an Enhanced Trade Partnership, signaling their intent to deepen economic cooperation. The move is poised to fortify Taiwan’s position in global trade and enhance its diplomatic relationships with European nations. Taiwan places great importance on its alliance with Britain, despite the absence of formal diplomatic […]

Western Miners Seek Premium Pricing for Rare Earth Metals to Diversify from China

China, International Trade, News

November 8, 2023

Several Canadian, German, and Australian mining companies are aiming to secure premium prices for critical metals, such as rare earths, used in electric vehicles (EVs) and renewable energy sources. Their goal is to offer alternatives to China, which currently dominates the production and pricing of these vital minerals. China’s control over 95% of rare […]

U.S. Lawmakers Call for Tariff Increase on Chinese-Made Vehicles

China, International Trade, News, United States

November 8, 2023

A bipartisan group of U.S. lawmakers is urging the Biden administration to raise tariffs on Chinese-made vehicles and explore measures to prevent Chinese firms from exporting vehicles to the United States through Mexico. In a letter addressed to U.S. Trade Representative Katherine Tai, Representative Mike Gallagher, a Republican who chairs a select committee on China, […]

Japan Records Strong Current Account Surplus as Trade Returns to Positive Territory

International Trade, Japan, News

November 8, 2023

Japan has reported its largest current account surplus in 18 months for September, thanks to a positive swing in the trade balance and significant gains from overseas investments, according to data from the Ministry of Finance (MOF). The current account surplus for September reached 2.72 trillion yen ($18.03 billion), slightly below the economists’ median […]

Improved Australia-China Relations Benefit Pacific Island Nations, Says PNG Minister

Australia, China, International Relations, News

November 8, 2023

Pacific Island nations seeking closer economic ties with Beijing are expected to benefit from the recent improvement in relations between Australia and China, according to Papua New Guinea’s Minister for State, Justin Tkachenko. Tkachenko expressed satisfaction with Australia’s positive outcomes from Prime Minister Anthony Albanese’s recent visit to China, the first by an Australian leader […]

Indonesia Stock Exchange (IDX) Commences Carbon Trading Operations

Indonesia, International Trade, News

November 8, 2023

In a significant move aligning with Indonesia’s proactive stance toward achieving ambitious emission reduction goals of 31.89 percent by 2030, the Indonesia Stock Exchange (IDX) officially launched carbon trading operations on September 26, 2023. This step follows the issuance of a carbon exchange license by the Financial Services Authority (OJK) on September 18, 2023, and […]

Switzerland Sets Year-End Deadline for Key Decision on EU Negotiations

Europe, International Trade, News, Switzerland

November 8, 2023

Switzerland has made a significant step toward shaping its future relationship with the European Union, with plans to determine its negotiating position by the year’s end. The Swiss government revealed this intention on Wednesday as it proceeds with efforts to regulate its ties with the EU, its largest trading partner. Since April 2022, Bern […]

China Boosts U.S. Soybean Purchases, Offering Hope for American Farmers

Agricultural Trade, China, News, United States

November 7, 2023

In a positive turn of events for the most valuable U.S. farm export, China has recently made its largest single-day U.S. soybean purchases in at least three months, according to traders. This development comes as overseas sales of the 2023 harvest had been lagging behind the usual pace, raising concerns among U.S. farmers. Chinese […]

Mexico’s Automotive Sector Witnesses Strong Growth in October

Automotive Industry, Mexico, News

November 7, 2023

In a promising development for Mexico’s automotive industry, recent data from the national statistics agency INEGI has revealed a substantial increase in both production and exports in the month of October compared to the previous year. Automotive production in Mexico surged impressively by 35.77%, reaching a total of 378,129 vehicles. Simultaneously, the country’s auto […]

Canada’s Trade Surplus Surges Beyond Expectations, Fueled by Energy Prices

Agricultural Trade, Canada, News

November 7, 2023

Canada has seen its trade surplus with the world grow at a rate twice as high as anticipated in September, thanks to an increase in crude oil prices that boosted exports for the third consecutive month, according to recent data. Statistics Canada reported that in September, Canada’s trade surplus reached C$2.04 billion ($1.48 billion), […]

Accurate and Timely Food Market Information Crucial Amid Global Challenges

International Trade, News

November 7, 2023

In a recent gathering of experts and stakeholders at the 24th session of the Agriculture Market Information System (AMIS) Global Food Market Information Group, held at the World Trade Organization (WTO) headquarters on November 6-7, the importance of accurate and timely information regarding international agriculture markets was emphasized. Keynote speaker Edwini Kessie, Director of the […]

Cuba Pursues Foreign Investment Despite U.S. Sanctions, Showcases Resilience

Foreign Investments, News, United States

November 6, 2023

In a bold move to attract foreign investment and defy long-standing U.S. sanctions, Cuba recently hosted a business fair that saw participation from over 800 companies representing more than 60 countries. This event signals Cuba’s determination to engage with the global business community and counteract the economic challenges posed by the U.S. trade embargo and […]

China’s Imports Surprisingly Rise, Highlighting Fragile Recovery in Global Trade

China, News, Trade Policy

November 6, 2023

China’s trade data for October has delivered a mixed picture, with imports unexpectedly increasing while exports contracted at a faster pace than anticipated. These figures underscore the challenges faced by the world’s second-largest economy, despite recent signs of improvement in domestic demand. While Beijing’s support measures have contributed to a tentative economic recovery, ongoing issues […]

Australian Prime Minister Albanese Retraces Historic Beijing Walk to Strengthen Trade Relations

Australia, Bilateral Trade Relation, News

November 6, 2023

In a bid to mend strained ties between Australia and China, Australian Prime Minister Anthony Albanese retraced the historic footsteps of the first Australian leader to visit China. His visit comes after several years of tensions between the two trading partners, including issues related to security concerns and the origin of COVID-19, which led to […]

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