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
I. New Zealands Comprehensive Ban on Single-Use Plastics From July 1, 2023, in accordance with the three-step plan of the Waste Minimisation (Plastic and Related Products) Amendment Regulations 2022, promulgated by the New Zealand Ministry for the Environment in November 2022, the sale of various single-use plastic products will be prohibited nationwide in New Zealand. Product categories that can no longer be produced or sold include single-use...
China fell to the third place in U.S. commodity imports for the first time
28 July 2023
Recently, according to reports from U.S. media, Chinas share of U.S. goods imports has fallen to third place for the first time in nearly 15 years. Since 2009, China has been the largest source of goods imported by the United States, but it has now been surpassed by Mexico and Canada. The interpretation of this situation needs to consider multiple factors. According to data from the U.S. Department of Commerce, in January 2023...
Japan's trade deficit decreased in the first half of 2023 and achieved a trade surplus in June
27 July 2023
Statistics released by the Japanese Ministry of Finance on July 20, 2023, show that due to the year-on-year increase in imports exceeding exports, Japans trade deficit reached 6.96 trillion yen in the first half of this year, and Japans trade deficit has continued since the second half of 2021. Although the trade deficit in the first half of this year decreased by 12.9% year-on-year, the deficit in the first half of 2022 set a record...
India bans some rice exports, global food prices may rise further
26 July 2023
The Indian government announced on July 20 that it would ban the export of rice other than basmati rice, with the aim of ensuring sufficient rice supply in the domestic market and alleviating rising market prices. This move may lead to a reduction of about half of the exports of the worlds largest rice exporter, raising concerns that global food prices may further increase. India is the worlds largest rice exporter, with rice exports in 2021...
UPS faces potential massive strike in US
24 July 2023
The union of the United Parcel Service (UPS) is seeking to increase part-time wages and has issued a strike call to workers. Sean OBrien, president of the International Brotherhood of Teamsters, told union members in a July 16 online broadcast that if a new agreement cannot be reached before the contract expires on July 31, the union will begin a strike on August 1. OBrien stated...
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 ideas on the Middle East issue have gained widespread recognition from countries in the region, promoting a reconciliation trend in the Middle East. The strategic mutual trust between China and Middle Eastern countries has continued to deepen, 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 trillions of dollars in investment opportunities to China. Prior to 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.
Follow customer service WeChat
