Retailers such as Walmart and Nordstrom will close 900 stores
22 May 2023
According to a report by CNN, the store - closing trend of retailers such as Walmart and Nordstrom in the United States will continue this year, and it involves complex reasons. As planned, Walmart will close about 20 stores, and Nordstrom will close 15 stores. The chain pharmacy CVS announced in 2021 that it planned to close 900 stores within 3 years. According to a report by UBS, in the next five years...
Russias Vladivostok Port has become a domestic trade transit port in my country!
17 May 2023
Export scope restrictions
U.S. extends tariff exemption for 81 Chinese medical protection products until May 31
17 May 2023
The U.S. Trade Representative’s Office (USTR) announced on May 12 local time that the tariff exemption for 81 Chinese imported U.S. medical protection products is about to expire, providing an additional 16-day transition period, which will be extended until May 31, 2023.
China and Australia restart economic and trade dialogue mechanism
16 May 2023
China-Australia economic and trade relations have received positive signals, Chinas Ministry of Commerce Minister Wang Ventao and Australias Trade Minister Farel jointly presided over the 16th China-Australia Ministerial Economic Joint Committee on May 12. The two sides agreed to restart the Joint Committee of the Free Trade Agreement, the High-Level Trade Relief Dialogue and other economic and trade dialogue mechanisms, strengthen cooperation in the fields of green low-carbon, Olympic infrastructure construction, and promote cooperation.
Industrial data fell more than expected in March, and the risk of a German recession rose.
15 May 2023
The decline in industrial production data in Germany in March far exceeded market expectations, raising market concerns about further deterioration of the German economy. The Federal Bureau of Statistics released data on Monday showed that the decline in industrial production in Germany in March was 3.4% and 1.3% more severe than analysts expected. Among them, poor performance in the automotive industry was one of the reasons for the decline in motor vehicles and automotive parts in March.
South African currency exchange rate hits a record low, beware of foreign exchange risks
16 May 2023
The South African Rand against the U.S. dollar exchange rate recently reached a new record low, attracting market attention. Last Friday, the South African Rand against the U.S. dollar exchange rate depreciated 1.8% in the plate, closing the Times 19.32 Rand against the U.S. Dollar, reaching a new record low. Thro the week, the South African Rand against the U.S. Dollar fell 4.7%, the largest weekly depreciation in 9 months.
Ecuador and China sign the first free trade agreement between Asian countries
15 May 2023
China and the relevant departments of the two countries officially signed the Free Trade Agreement via video on May 11, which is the first free trade agreement signed by Ecuador and Asian countries. It is that the China-Ecuador Free Trade Agreement includes a preamble and 17 chapters, through which the agreement, the two sides will a high level of mutual openness and promote China-Ecuador economic and trade cooperation in all aspects.
Export to Argentina issued the latest food standard requirements
12 May 2023
The Argentine Secretariat for Agriculture, Livestock and Fisheries and the Secretariat for Health Quality issued a number of resolutions on 20-21 April 2023, aimed at regulating food production operations, preventing food safety accidents and ensuring food safety.
Brazil will exempt 628 types of machinery and equipment from import tariffs
12 May 2023
On May 9, 2023, the Executive Management Committee of the Brazilian Foreign Trade Commission issued an important decision to exempt 628 kinds of machinery and equipment products from import tariffs. The tax - free policy will last until December 31, 2025. This decision aims to promote the economic development of Brazil, enhance the competitiveness of enterprises, stabilize domestic prices, and reduce inflationary pressure. According to the announcement of the committee...
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