Recently, the Biden administration has issued multiple negative signals, including raising tariffs on Chinese steel and aluminum products and strengthening economic sanctions against China. These measures could lead to serious political and economic consequences, further escalating trade tensions between the two nations.
The China - Switzerland Free Trade Agreement - 2023 Academic Evaluation Report shows that since the agreement came into effect, trade and investment between the two countries have increased significantly, especially in the fields of pharmaceuticals, medical devices and IT products. It also points out the changes in the utilization rate of the FTA and future cooperation opportunities.
Since April 13, 2024, the US and the UK have implemented new sanctions, banning the import of aluminum, copper, and nickel produced in Russia and restricting the use of these metals on metal exchanges. This move aims to weaken Russias revenue and may lead to supply shortages and price fluctuations in the global metal market, prompting companies to re - evaluate their supply chains.
The latest report from PwC points out that the EU wine industry holds a leading position in the global market. In 2022, its production volume reached 165 million hectoliters, with a market value exceeding 100.3 billion euros, making a significant contribution to GDP. The industry also makes a prominent contribution to employment, benefits the tourism industry, and helps reduce the trade deficit.
Against the backdrop of the intensifying Sino - US technological competition, South Korea, as an important country in the semiconductor industry, faces a dilemma. As an ally of the United States, South Korea needs to cooperate with the US in implementing export controls on China; however, as a major trading partner of China, excessive restrictions may also harm its own interests. The South Korean government is striving to strike a balance, on the one hand, complying with international rules, and on the other hand, actively coordinating with all parties to safeguard its core interests.
India and Vietnam, as emerging forces in global manufacturing, face different challenges and opportunities. Vietnam has a first-mover advantage in the electronics manufacturing sector, while India needs to reduce import tariffs and improve infrastructure to enhance its competitiveness in global manufacturing.
The US Department of Homeland Security announced stricter inspections of low - value packages, affecting Chinese e - commerce giants Temu and Shein. This move aims to crack down on small - value exemption shipments, may change the export strategies of e - commerce platforms, and at the same time trigger a review of global e - commerce tax policies.
enterprises can smoothly enter the Thai market and lay a solid foundation for the expansion of international business. I hope this article will be helpful to your export plan.
In March 2024, South Koreas total exports increased by 3% year - on - year, achieving growth for six consecutive months. In particular, the significant growth in semiconductor exports demonstrated South Koreas core position in the global electronics product supply chain. The increase in South Koreas exports to China and the United States, as well as the enhanced competitiveness in the high - tech industry, provided a positive example for the global economic recovery.
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