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Ukraine Forecasts Surge in Electricity Exports Amid Warm Weather

February 12, 2024

Energy Trade, News, Ukrain

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Ukraine is expecting a notable uptick in electricity exports on Monday, with projected exports almost doubling in comparison to imports. This surge is attributed to unusually warm weather, as confirmed by the energy ministry. Following the events of 2022, Ukraine temporarily halted significant electricity exports due to security concerns surrounding attacks on its power […]

Poland Strengthens Quality Assurance Measures for Ukrainian Grain Imports

February 12, 2024

Agricultural Trade, News, Poland, Ukrain

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In a bid to uphold standards and safeguard domestic interests, Poland has announced stringent quality inspections on all grain imports from Ukraine. This decision, revealed by Deputy Agriculture Minister Michal Kolodziejczak, underscores Poland’s commitment to ensuring the integrity of its agricultural imports. The move comes amidst ongoing nationwide protests by Polish farmers, who have […]

U.S. Treasury Secretary Embarks on Economic Victory Tour in Key Battleground States

February 12, 2024

Economic Development, News

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U.S. Treasury Secretary Janet Yellen is set to embark on a series of visits to pivotal battleground states, underscoring the Biden administration’s economic achievements. Her itinerary includes stops in Pittsburgh on February 13th and Detroit on February 14th, where she will engage with elected officials and community leaders to highlight the administration’s initiatives aimed at […]

EU Agrees on Looser Fiscal Rules to Cut Debt, Boost Investments

February 10, 2024

Economic Policy, Europe, News

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In a significant development, EU member states and Members of the European Parliament (MEPs) have reached a preliminary agreement to ease the bloc’s stringent fiscal regulations. This accord provides governments with additional flexibility in managing debt and offers incentives to bolster public investments, particularly in climate initiatives, industrial policies, and security measures. The revision […]

Guatemala Commits to Maintaining Taiwan Ties Amidst Pursuit of Greater China Trade

February 8, 2024

News, Trade Relations

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In response to a decline in sugar production caused by adverse weather conditions in Mexico, the United States is set to diversify its sources of sugar imports, albeit at higher costs, according to the latest report from the U.S. Department of Agriculture (USDA). The USDA’s monthly supply and demand report (WASDE) revealed a revision […]

US Adjusts Sugar Imports Amid Mexican Supply Shortfall

February 8, 2024

Agricultural Trade, News, United States

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In response to a decline in sugar production caused by adverse weather conditions in Mexico, the United States is set to diversify its sources of sugar imports, albeit at higher costs, according to the latest report from the U.S. Department of Agriculture (USDA). The USDA’s monthly supply and demand report (WASDE) revealed a revision […]

US Lawmakers Advocate for Export Control Measures on Social Media Platform

February 8, 2024

News, Technology Trade Policy, United States

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In a bipartisan effort, a group of 15 US lawmakers has urged the Commerce Department to consider placing a China-based parent company of a popular social media platform on the government’s export control list. Led by Representative Dan Crenshaw and Representative Josh Gottheimer, the lawmakers emphasized the need to address potential vulnerabilities stemming from the […]

Finland Boosts Developing Economies’ Trade Participation with EUR 1.2 million Contribution

February 8, 2024

International Trade, News

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In a significant move to bolster developing economies’ engagement in global trade, Finland has pledged EUR 1.2 million (CHF 1.14 million) to four World Trade Organization (WTO) trust funds. This initiative aims to support developing countries and least-developed country (LDC) members in better understanding and applying international trade regulations. During a signing ceremony at […]

Korea’s Trade Surplus Hits Record High, Exceeding Expectations

February 7, 2024

News, Trade Relations

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In a significant economic update, Korea has revealed a current account surplus surpassing $35 billion for the previous year, outstripping initial projections. The data, released by the Bank of Korea (BOK), indicates a robust 37% increase from the prior year, with December marking the eighth consecutive month of surplus, reaching $7.41 billion. This growth is […]

Britain Extends Tariff-Free Trade Agreement with Ukraine

February 7, 2024

News, Trade Agreements, Ukrain

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In a significant development, Britain has announced the extension of tariff-free trade with Ukraine until 2029, extending crucial support to Kyiv in light of recent events. Following the conflict in the region two years ago, Britain abolished tariffs on all trade with Ukraine. Initially slated to end in March 2024, the agreement has now […]

US Poised to Surpass China as Germany’s Top Trade Partner

February 7, 2024

China, News, Trade Relations, United States

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According to the head of foreign trade at the German Chamber of Industry and Commerce (DIHK), current trends suggest that the United States is on track to overtake China as Germany’s primary trade partner by 2025, at the latest. Preliminary data from the Federal Statistics Office indicates that German exports and imports to China […]

German Industrial Orders Surge Unexpectedly in December

February 6, 2024

Germany, Manufacturing, News

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In a surprising turn of events, German industrial orders experienced a significant upswing in December, marking the most substantial month-on-month increase in over three years. The surge, fueled by a remarkable influx of aircraft orders, was reported by the federal statistics office on Tuesday. Orders soared by 8.9% compared to the previous month, after […]

Global Efforts in Trade and Development Highlighted at WTO Meeting

February 6, 2024

Global Trade, News

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The World Trade Organization (WTO) recently convened to discuss ongoing initiatives aimed at promoting trade and development worldwide. The upcoming Aid for Trade Global Review, scheduled for June 26 to 28, will focus on integrating trade into development strategies under the theme of “Mainstreaming Trade”. The biennial Global Review serves as a critical platform […]

Rice Imports Rise in January: Philippines Adapts to Changing Conditions

February 6, 2024

Agricultural Trade, News, Philippines

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Recent data from the Department of Agriculture’s Bureau of Plant Industry (DA-BPI) reveals an uptick in rice imports in the Philippines during January 2024. According to reports, inbound shipments of rice reached 268,006 metric tons (MT) by January 25, marking a 6.15% increase compared to the same period last year. Despite this growth, the […]

China’s Robust Commodity Imports Signal Strong Start to New Year

February 6, 2024

China, Global Trade, News

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China has kicked off the new year with a surge in imports across major commodities, indicating a robust beginning amid economic caution surrounding the Lunar New Year holidays. Despite the upcoming Lunar New Year falling in February this year, traders and end-users seem to have accelerated purchases in January. The week-long holidays, from Feb. […]

China Strengthens NEV Industry Amidst Global Trade Scrutiny

February 6, 2024

China, Global Trade, News

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In response to recent global trade regulations and inquiries, the Ministry of Commerce has unveiled proactive measures to bolster the new energy vehicle (NEV) sector. Emphasizing collaboration with international partners, the guidelines aim to enhance global cooperation while navigating challenges such as ongoing investigations into subsidies for the NEV industry. Encouraging NEV manufacturers to […]

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