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Archive for the ‘News’ Category

German Chip Equipment Supplier Faces Export Hurdles Amidst Tightened China Scrutiny

Germany, News, Trade Policy

October 25, 2023

In a recent development, Süss MicroTec, a leading German chip-making equipment supplier, has revised its sales forecasts downwards for the second time in just three months. The company attributes this revision to heightened government controls affecting exports to China, which have created significant disruptions in its operations and financial outlook. Consequently, the news sent shockwaves […]

U.S. Trade Representative Shifts Digital Trade Approach in Favor of Regulation

Digital Trade, News, United Arab Emirates

October 25, 2023

  In a notable change of approach, U.S. Trade Representative Katherine Tai has decided to withdraw longstanding U.S. digital trade demands in World Trade Organization (WTO) negotiations. The move is aimed at providing Congress with more flexibility to regulate large technology companies effectively. The proposals, initially put forth by the Trump administration in 2019, had […]

China Strengthens Diplomatic Ties with Long-Standing U.S. Ally Colombia

China, Colombia, International Trade, News

October 25, 2023

In a significant diplomatic development, China has elevated its relations with Colombia to a strategic partnership, marking a deepening of its engagement with one of the United States’ oldest allies in the region. This move underscores China’s ongoing efforts to expand its influence and solidify its presence in Latin America. The decision to upgrade their […]

Global Oil Traders Explore Opportunities in Venezuelan Market as U.S. Sanctions Ease

News, Trade Policy, United States

October 24, 2023

Following the recent relaxation of U.S. energy sanctions on Venezuela, global energy traders are swiftly entering negotiations to purchase Venezuela’s crude and fuel oil stocks. Sanctions in place since 2019 had largely restricted Venezuela’s state-run oil company, PDVSA, from exporting its products to desired markets. However, the six-month relaxation of these measures has opened the […]

WTO’s Senior Officials Meeting Sets Stage for Progress Ahead of MC13

International Trade, News

October 24, 2023

In a two-day gathering, senior trade officials at the WTO have provided positive signals that negotiators in Geneva are poised to achieve significant outcomes at the upcoming 13th Ministerial Conference (MC13) scheduled for early next year. The meeting, chaired by WTO Director-General Ngozi Okonjo-Iweala and General Council Chair Ambassador Athaliah Lesiba Molokomme of Botswana, was […]

Canada and Taiwan Conclude Bilateral Investment Deal, Bolstering Economic Ties

Canada, International Trade, News, Taiwan

October 24, 2023

Canada and Taiwan have successfully concluded negotiations for a bilateral agreement aimed at enhancing foreign investment. Canadian Trade Minister Mary Ng and the Taiwanese government announced their commitment to ensuring the swift implementation of this accord.   Taiwan, in its pursuit of greater diplomatic and moral support from major Western democracies, including Canada, faces increasing […]

Dutch Lawmakers Raise Concerns Over New US Export Restrictions on ASML Chip Machine

International Trade, News, United States

October 24, 2023

Dutch lawmakers have questioned the Netherlands’ Trade Minister regarding the recent unilateral imposition of new export rules by the United States affecting ASML Holding, Europe’s largest tech firm.   The U.S. announced last week that it would exercise the right to restrict the export of ASML’s Twinscan NXT1930Di chipmaking machine to China if it contains […]

Historic Agreement on Fisheries Subsidies Nears Entry into Force as WTO Members Step Up Acceptance

Economic Development, News

October 23, 2023

In a significant move towards the realization of the historic Agreement on Fisheries Subsidies, seven WTO member countries formally accepted the agreement on October 23rd, bringing the much-anticipated entry into force one step closer. The ratification ceremony took place during the two-day Senior Officials Meeting held at the WTO’s headquarters in Geneva. Albania, Australia, Botswana, […]

Australian Prime Minister’s Visit to China Marks Progress in Resolving Wine and Wind Tower Disputes

Australia, International Relations, News

October 21, 2023

Australian Prime Minister Anthony Albanese has announced his upcoming visit to China from November 4 to 7, where he will meet with President Xi Jinping and Premier Li Qiang. The visit aims to restore stability to relations between Australia and its largest trading partner.   This visit to Beijing and Shanghai marks a significant diplomatic […]

Argentina and Brazil Request Financial Aid in EU-Mercosur Trade Talks

Argentina, Brazil, Europe, News, Trade Agreements

October 20, 2023

In ongoing negotiations to finalize a trade agreement between the European Union and South America’s Mercosur bloc, Argentina and Brazil have jointly requested €12.5 billion (approximately $13.2 billion) in financial assistance from the European Union, as per a document seen by Reuters. The request aims to secure support to mitigate the potential challenges posed by […]

Malaysia Proposes Groundbreaking Free Trade Agreement Between ASEAN and Gulf Council

Malaysia, News, Trade Agreements

October 20, 2023

At the ASEAN-GCC Summit held in Saudi Arabia, Malaysia’s Prime Minister, Anwar Ibrahim, unveiled a groundbreaking proposal for the creation of a free trade agreement (FTA) between the Association of Southeast Asian Nations (ASEAN) and the Gulf Cooperation Council (GCC). This visionary agreement, if realized, would mark a historic first between ASEAN nations and the […]

Germany Boosts Global Trade Skills with EUR 500,000 Contribution

Europe, Germany, International Trade, News

October 20, 2023

In a significant move to empower developing and least-developed economies (LCDs) in the realm of global trade negotiations, the German government has pledged EUR 500,000 (approximately CHF 480,000). This generous contribution was formalized through the signing of a Memorandum of Understanding by Germany’s Alternate Permanent Representative to the World Trade Organization (WTO), Bettina Waldmann, on […]

China Extends Support to Sri Lanka with No Political Conditions and Increased Imports

China, International Trade, News, Sri Lanka

October 20, 2023

In a recent development, China has expressed its willingness to assist Sri Lanka without imposing any political conditions and has also pledged to increase its imports from the island nation. Chinese President Xi Jinping conveyed this commitment during a meeting with Sri Lankan President Ranil Wickremesinghe in Beijing, as reported by state media.   This […]

US Senators Propose Legislation to Support Enforcement of Iran Oil Sanctions

International Trade, Iran, News, United States

October 19, 2023

Bipartisan efforts are underway in the U.S. Senate to introduce legislation aimed at strengthening the enforcement of oil sanctions on Iran. Senator Joni Ernst, a Republican, is leading the charge for this bill, set to be unveiled on Monday. The proposed legislation seeks to establish a $150 million Iranian sanctions enforcement fund specifically designated for […]

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