July 2023 Update of Multinational trade policies and Restrictive measures
2 August 2023
In July 2023, many countries, including India, Brazil, Russia, Serbia, the United States, etc., issued new trade restrictions and bans. These policy changes involve rice, gold jewelry, medical marijuana, foods containing trans fat, cocoa, marijuana flowers, fish and seafood, drones, oil, weapons ammunition, querclorethylene and many other commodities.
New Zealand bans sale of many single-use plastics
1 August 2023
From July 1, 2023, according to the three-step plan of the New Zealand Ministry of Environments Revised Regulation on Minimizing Waste (Plastics and Related Products) 2022 issued in November 2022, New Zealand will ban the sale of multiple single-use plastic products throughout the country.
China fell to the third place in U.S. commodity imports for the first time
28 July 2023
Recently, according to U.S. media reports, China’s share of U.S. commodity imports fell to third place for the first time in 15 years. Since 2009, China has been the largest commodity importer of the United States, but has now been outpaced by Mexico and Canada. The interpretation of this situation requires consideration of multiple factors. According to data from the U.S. Department of Commerce, January 2023...
Japans trade deficit decreased in the first half of 2023 and achieved a trade surplus in June
27 July 2023
In statistics released by the Ministry of Finance of Japan on July 20, 2023, the Japanese trade deficit reached 6.96 trillion yen in the first half of this year due to the growth of imports compared to exports, and the Japanese trade deficit has continued since the second half of 2021.
India bans some rice exports, global food prices may rise further
26 July 2023
The government of India announced on July 20 that it would ban the export of rice, except for Indian shrimp, in order to ensure that there is sufficient supply of rice in the domestic market and to mitigate the rise in market prices.This move could lead to about half of the world’s largest rice exporter’s exports, raising concerns that global food prices could rise further.
UPS faces potential massive strike in US
24 July 2023
UPS unions are struggling to raise part-time wages and have appealed to workers to strike. Shawn OBrien, chairman of the International Truck Drivers Brotherhood, said in a live broadcast on July 16 to union members that if a new agreement cannot be reached before the July 31 contract expires, the unions will start strike on August 1.
The UK officially joined CPTPP
20 July 2023
Recently, the Ministerial Conference of Members of the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) was held in Auckland, New Zealand, and the meeting made a major decision: to formally approve the UKs accession to the CPTPP. British Minister of Commerce and Trade Kemi Badnoch signed an agreement to join the CPTPP in New Zealand, which she said would greatly boost the development of British enterprises and bring a number of benefits.
A new era of Middle East diplomacy: deepening strategic mutual trust and opening up a trillion-dollar investment opportunity
18 July 2023
Since the beginning of this year, Chinas policies and concepts on the Middle East issue have been widely recognized by regional countries, promoting a “reconciliation wave” in the Middle East. The strategic mutual trust between China and Middle Eastern countries has been continuously deepened, and economic and trade relations have become increasingly close. Professionals point out that as Chinas Middle East diplomacy enters a new era, it is expected to bring trillion - dollar investment opportunities to China. Before this, oil...
The impact of global high temperature weather on factories, power grids and the economy
18 July 2023
In North America, Canada is experiencing the worst wildfires season in history, leading to the forced shutdown of wooden plants in Quebec and the reduction of oil output in Alberta. More than 100 million people in the United States live in high temperatures, and the huge demand for electricity increases the burden on the power grid.
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