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Archive for the ‘News’ Category

U.S. Senator Marco Rubio Calls for Sanctions on Chinese Chip Firm Brite Amidst Concerns

News, Technology, United States

December 20, 2023

U.S. Senator Marco Rubio, a Republican lawmaker, has called upon the Biden administration to impose sanctions on the Chinese chip design firm Brite Semiconductor due to its connections with China’s leading sanctioned chipmaker and its involvement with Chinese military suppliers. The move comes after recent reports revealed that Brite Semiconductor provides chip design services to […]

EU Fiscal Rules: Safeguarding Economic Stability and Confidence

Europe, International Trade, News

December 20, 2023

European Union finance ministers have unanimously approved alterations to the EU’s fiscal regulations, introducing customized strategies for debt reduction and encouraging investments. These amendments hold substantial significance, and here’s an exploration of their importance.   Fostering Fiscal Responsibility: In a region where the euro serves as the common currency and the European Central Bank oversees […]

UK and Switzerland Strengthen Financial Ties in Post-Brexit Accord

News, Switzerland, Trade Finance, United Kingdom

December 20, 2023

The United Kingdom and Switzerland are set to reinforce their financial ties with a post-Brexit agreement, aimed at deepening connections between the City of London and the Swiss banking system.   Chancellor Jeremy Hunt will sign the mutual recognition agreement during his visit to Berne, marking a significant step in bringing together Europe’s largest financial […]

South Korea and Japan Resume High-Level Economic Talks, Signaling Improved Ties

International Relations, Japan, News, South Korea

December 20, 2023

In a significant diplomatic development, South Korea and Japan are set to engage in high-level economic talks for the first time in eight years, highlighting a positive shift in their relations. This move comes as both nations increasingly find themselves aligned on shared geopolitical concerns.   The talks, initially initiated in 1999, had been stalled […]

U.S. Contemplates Tariff Hike on Chinese Electric Vehicles

News, Trade Policy, United States

December 20, 2023

In a recent development, the Biden administration is reportedly in discussions regarding an increase in tariffs on certain Chinese goods, particularly electric vehicles (EVs), according to sources cited by the Wall Street Journal.   China’s export of vehicles has been on the rise in recent years, driven by excess production capacity and a slowdown in […]

Secretary Raimondo Strengthens U.S.-Brazil Bilateral Ties in Meeting with Vice President Alckmin

International Trade, News, United States

December 18, 2023

Gina M. Raimondo, U.S. Secretary of Commerce, held a significant meeting with Brazil’s Vice President and Minister of Development, Industry, Trade, and Services, Geraldo Alckmin, during her inaugural official visit to Brazil. This meeting serves to further bolster the bilateral and commercial relations between the United States and Brazil.   Building upon the meetings between […]

Progress Made in WTO Dispute Settlement Reform Talks, Finish Line in Sight

International Trade, News

December 18, 2023

Informal discussions aimed at reforming the WTO’s dispute settlement rules are approaching a conclusion, with members being informed that the “finish line is within reach.” These talks were the focus of the WTO’s Dispute Settlement Body (DSB) meeting held on December 18th.   Marco Molina, Deputy Permanent Representative of Guatemala to the WTO, reported on […]

U.S. Senator Seeks Reversal of Treasury Exemption Allowing Chinese Minerals in EVs

News, Trade Policy, United States

December 18, 2023

In a bid to address concerns over increased reliance on China, Senator Joe Manchin, Chair of the Senate Energy and Natural Resources Committee, is calling for Congress to vote on reversing recent Treasury Department guidance related to electric vehicle (EV) tax credits. This guidance, issued earlier this month, has the potential to make it easier […]

OECD Calls on Brazil to Reevaluate Spending and Reduce Trade Barriers

News, Trade Policy

December 18, 2023

The Organization for Economic Cooperation and Development (OECD) has urged Brazil to take steps to enhance the potential growth of its economy by addressing mandatory spending and trade barriers, according to its latest Economic Survey of Brazil.   The OECD’s report pointed out that Brazil has made little progress in implementing the organization’s advice from […]

WTO Young Professionals Program Concludes with Remarkable Achievements

International Trade, News

December 18, 2023

The 2023 edition of the World Trade Organization (WTO) Young Professionals Programme (YPP) reached its inspiring conclusion, as WTO Director-General Ngozi Okonjo-Iweala extended her heartfelt congratulations and best wishes to the 17 talented individuals who participated in this year’s cohort. The farewell ceremony, a celebratory event held to mark the official closure of the program, […]

Japan-ASEAN Summit Strengthens Security and Economic Cooperation Amid Regional Tensions

International Trade, Japan, News

December 17, 2023

Leaders from Japan and the Association of Southeast Asian Nations (ASEAN) gathered in Tokyo for a special summit on Sunday, marking the 50th anniversary of official Japan-ASEAN ties. The summit adopted a joint vision highlighting security and economic cooperation while upholding the rule of law, especially in the context of rising tensions in regional waters […]

New Zealand Prime Minister to Strengthen Bilateral Ties with Australia

Australia, International Trade, New Zealand, News

December 17, 2023

  In a significant diplomatic move, New Zealand Prime Minister Christopher Luxon has announced his upcoming visit to Sydney on Wednesday to meet with Australian Prime Minister Anthony Albanese. This visit underscores the commitment of both nations to enhancing their security and economic cooperation.   Luxon, who took office as prime minister earlier this month, […]

Japan Extends $2.8 Million Maritime Security Assistance to Malaysia

International Trade, Japan, Malaysia, News

December 16, 2023

In a significant move aimed at enhancing regional security and cooperation, Japan and Malaysia have officially sealed a security assistance deal, underlining their commitment to bolstering maritime security in the face of evolving challenges, including regional dynamics related to China.   On Saturday, the foreign ministers of Japan and Malaysia signed the agreement, which includes […]

Australia Anticipates Resolution of Chinese Wine Tariffs in Early 2024

Australia, International Trade, News

December 16, 2023

Australia’s government expressed confidence on Sunday that the punitive tariffs imposed by China on Australian wine in 2021 would be removed early next year, providing a significant boost to Australian winemakers.   Trade Minister Don Farrell conveyed his optimism in an interview with Sky News television, stating, “I would be very confident that early in […]

Indonesia and Japan Forge Closer Economic Ties by Removing Trade Barriers

Indonesia, International Trade, Japan, News

December 16, 2023

In a significant development aimed at fostering stronger economic ties, Indonesia and Japan have successfully concluded negotiations on protocols to enhance their bilateral economic agreements, as announced by Indonesia’s Foreign Minister Retno Marsudi on Saturday.   Under these agreements, Japan has committed to granting greater market access to Indonesian products. This includes the removal of […]

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