News

South Korea’s Exports Poised for Growth in October After Year-Long Decline

October 30, 2023

Daisy

South Korea, a significant barometer of global trade, is expected to break a year-long trend of declining exports and report growth in October, driven by strong demand from the United States and increased chip shipments. However, softer exports to China have been a drag on this recovery, according to a Reuters survey.   Export figures […]

READ MORE

U.S. Military Initiates Purchases of Japanese Seafood in Response to China’s Ban

October 30, 2023

Daisy

In a response to China’s ban on Japanese seafood products following Tokyo’s release of treated water from the Fukushima nuclear plant into the sea, the United States has initiated purchases of Japanese seafood to supply its military stationed in Japan. U.S. Ambassador to Japan Rahm Emanuel unveiled this initiative in a Reuters interview, suggesting that […]

READ MORE

German Chancellor Olaf Scholz Focuses on Trade and Investment Opportunities During West Africa Visit

October 30, 2023

Daisy

German Chancellor Olaf Scholz held discussions with Nigerian President Bola Tinubu during his West Africa tour, emphasizing trade and investment prospects. This visit reflects Germany’s interest in diversifying its trade partners and expanding economic collaborations in the resource-rich West African region.   During their meeting in the capital city of Abuja, Scholz emphasized the need […]

READ MORE

New WTO Training Program Focused on Empowering African Trade

October 30, 2023

Daisy

In a significant step towards enhancing Africa’s role in global trade, the World Trade Organization (WTO) has launched a comprehensive regional course. This initiative, primarily focused on deepening the understanding of WTO agreements within the African trade policy context, marks a notable advancement in integrating the continent more effectively into the global trading system.   […]

READ MORE

EU Announces 6 Billion Euro Assistance Package to Support Reforms in the Western Balkans, Aiding Trade Integration

October 30, 2023

Daisy

The European Union (EU) has unveiled an ambitious plan to provide a substantial investment of 6 billion euros ($6.4 billion) to support the Western Balkan countries in their quest for reforms and eventual integration into the EU. This development was announced by Ursula von der Leyen, the President of the European Commission, during her visit […]

READ MORE

European Gas Prices Surge Amidst Disruption in Supply Chain

October 30, 2023

Daisy

European gas markets experienced a significant surge in prices, with the Dutch TTF gas futures index rising by nearly 7% to reach €54 per megawatt-hour. This substantial increase marks the highest level since mid-February and has raised concerns regarding supply stability.   The catalyst for this price hike comes as Egypt reported a complete halt […]

READ MORE

G-7 Nations Unite to Support Resilient Supply Chains for Energy and Food Amid Global Challenges

October 29, 2023

Daisy

Trade and economy officials from the Group of Seven (G-7) wealthy democracies reaffirmed their commitment on Sunday to collaborate in ensuring the smooth functioning of supply chains for essential goods such as energy and food, despite prevailing global uncertainties.   In a joint statement, these nations pledged to uphold “a free and fair-trading system based […]

READ MORE

Fuel Shortages in Argentina Expected to Improve as Imports Arrive

October 28, 2023

Daisy

Argentina is set to address its recent fuel shortages as the government and oil companies confirm the arrival of fuel shipments, offering relief to the long queues at gas stations that resulted from a surge in demand.   Energy Secretary Flavia Royon announced that ten fuel shipments, which have been imported by the government, have […]

READ MORE

Taiwan Anticipates Stronger Q3 Economic Growth, Fueled by Domestic Consumption and Export Recovery

October 27, 2023

Daisy

In a recent poll conducted by Reuters, economic experts have forecasted a notable uptick in Taiwan’s economic growth for the third quarter of the year. This optimistic outlook is primarily attributed to resilient domestic consumption and a tentative rebound in exports, marking a positive shift for Taiwan’s trade-dependent economy.   According to the survey of […]

READ MORE

China’s Graphite Export Restrictions Stir Global EV Battery Supply Chain Concerns

October 27, 2023

Daisy

Beijing’s recent move to impose export restrictions on graphite has raised significant concerns within the global electric vehicle (EV) battery supply chain. While China has stated that these restrictions are not specific to any particular sector, industry experts and insiders have highlighted potential challenges, especially for foreign manufacturers of EV battery components who have not […]

READ MORE

Reform Proposals Underway to Revive WTO Dispute Settlement System by Early 2024

October 26, 2023

Daisy

World Trade Organization (WTO) members are actively considering reform proposals aimed at addressing concerns raised by the United States, with some calling this effort the “last chance” to rejuvenate the WTO’s capacity to resolve trade disputes effectively.   The draft reform proposals, revealed exclusively to Reuters, represent a significant endeavor to mend the WTO’s beleaguered […]

READ MORE

U.S. Business Delegation Explores Post-Brexit Prospects in Northern Ireland Amid Political Uncertainty

October 26, 2023

Daisy

A U.S. business delegation, dispatched to Northern Ireland by President Joe Biden, has embarked on a mission to uncover the economic potential brought about by the region’s unique post-Brexit trade arrangements. These arrangements, established under the Windsor Framework Agreement, grant Northern Ireland dual access to both the United Kingdom and the European Union goods markets. […]

READ MORE

U.S. International Trade Commission Considers Import Ban on Apple Watches in Ongoing Masimo Patent Dispute

October 26, 2023

Daisy

In a recent development, the U.S. International Trade Commission (ITC) has taken a step that could potentially result in a ban on the import of Apple Watches, as it found that these devices infringe on the patent rights of medical technology firm Masimo. This decision stems from an earlier ruling in January where a judge […]

READ MORE

EU Member States Collaborate to Enhance Export Control Coordination for Sensitive Technologies

October 26, 2023

Daisy

In a concerted effort to safeguard sensitive technologies from unauthorized access, the European Commission has taken significant steps to improve the coordination of export controls at the EU level. This initiative aims to prevent critical technologies from falling into the wrong hands.   A significant milestone was achieved with the publication of the first compilation […]

READ MORE

South Korea’s Stronger-Than-Expected Economic Growth Supports Rate Stability

October 25, 2023

Daisy

South Korea’s economy has surpassed expectations in the third quarter, with growth primarily driven by exports. This robust performance reinforces the argument for the central bank to maintain its current interest rates in the coming months.   According to data from the Bank of Korea, Gross Domestic Product (GDP) expanded by 0.6% in the July-September […]

READ MORE

German Chip Equipment Supplier Faces Export Hurdles Amidst Tightened China Scrutiny

October 25, 2023

Daisy

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 […]

READ MORE