Global textile markets face cotton supply and demand challenges
April 1, 2024
In the context of the current complex and changing global economic situation, the challenges facing the global textile market, especially the supply of cotton demand and price fluctuations, have a profound impact on the market. According to the latest forecast of the International Cotton Advisory Council (ICAC), global cotton production for the period 2023-2024 has been reduced, while the decrease in consumption has been relatively small, leading to a decline in end-term inventories.
The impact of the Baltimore Bridge collapse on global supply chains
29 March 2024
At 1:27 AM on Tuesday, March 26th, U.S. Eastern Time, a shocking accident occurred in Baltimore, when the container cargo ship Dali crashed into the Francis Scott Key Bridge, causing the bridge to collapse in just a few seconds, which is not only a major transportation hub for Baltimore but also for the entire state of Maryland.
The EU has made major revisions to agricultural policies to ease farmers' protests
28 March 2024
Recently, Brussels, the capital of Belgium and the location of the European Union, once again witnessed tractor demonstrations by farmers, marking the third such protest since the beginning of this year. Approximately 250 tractors occupied the streets near EU institutions, creating a spectacular scene. Meanwhile, the EU Agriculture and Fisheries Council is meeting inside the alliance building to discuss revisions to parts of the Common Agricultural Policy (CAP).
Shanghai Pujiang Customs seized unlicensed export control items Hafnium oxide case
March 27, 2024
日前，上海浦江海關(guān)查獲一起無(wú)證出口管制物項(xiàng)鉿化合物氧化鉿案件，當(dāng)事企業(yè)長(zhǎng)沙市啟睿新材料有限公司被處以47.3萬(wàn)元的罰款。 根據(jù)海關(guān)通報(bào)，該公司分別于2021年12月14日、2022年6月30日、2022年10月9日、2022年10月31日向海關(guān)申報(bào)出口"氧化鉿粉末"，...
The EU is planning a large-scale customs reform that will affect the tax system for cross-border e-commerce
March 26, 2024
To cope with the enormous pressure that cross-border e-commerce is placing on EU customs, the EU is preparing for the largest customs reform since 1968. On February 22, the EU Internal Market Committee adopted a draft position on the reform of the EU Customs Code. Zhu Qiuyuan, a Shanghai customs law expert, said that this can basically be regarded as a complete overhaul and will form a number of new mechanisms. According to...
The United States is considering restrictions on China's shipbuilding industry, South Korea may benefit
March 25, 2024
Under the continued pressure from U.S. labor unions, the U.S. government has recently stated that it may take restrictive measures against Chinas shipbuilding industry. Analysts point out that although this move is directly aimed at curbing Chinas development in this field, it may also create opportunities for competitors such as South Korea to win a larger share in the global shipbuilding market. The situation stems from March 12, when five major U.S. labor unions submitted a petition to the Biden administration...
The South Korean government has promised to support the semiconductor industry and strive for an export target of US1120 billion
22 March 2024
South Korean Minister of Trade, Industry and Energy Ahn Duk-geun pledged last Thursday that the government will continue to strongly support the development of the semiconductor industry, accelerate the development of areas such as high-bandwidth memory and artificial intelligence chips, and strive to achieve an annual chip export target of $120 billion. During a visit to the new factory site of SK Hynix, a major South Korean chip manufacturer, in South Jeolla Province, Ahn Duk-geun stated that the government plans to formulate...
EU plans to impose tariffs on Russian white grains to ease farmers’ dissatisfaction with Ukrainian products
March 21, 2024
According to internal sources, the European Commission is preparing to impose import tariffs on grains imported from Russia and Belarus, in an attempt to appease the dissatisfaction of some member states and European farmers over the influx of Ukrainian agricultural products. It is reported that the European Commission will propose to impose a tariff of 95 euros (approximately 103 US dollars) per ton on grains from Russia and Belarus, and a tariff on oilseeds and their derivatives...
South Korea's auto exports decreased in February, and new energy vehicles were hit
March 21, 2024
The latest data released by the South Korean Ministry of Trade, Industry and Energy on March 19th reveals the challenges confronting the nations automotive export sector. According to the report, in February of this year, South Koreas automotive exports reached USD 5.16 billion, a year-on-year decrease of 7.8%, marking a three-month consecutive decline and reaching the lowest value in nearly 13 months since January 2023 (USD 4.98 billion). Detailed analysis indicates that South Korean...
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