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Indonesian government extends textile import tariffs to protect domestic manufacturers from cheap foreign imports, creating recovery opportunities for the local textile industry and enhancing market competitiveness.
China tightens export controls on rare metals; prices of critical metals like antimony surge as global firms stockpile, testing supply chain stability.
U.S. President Joe Biden has increased the import tariff quota for solar cells to 12.5GW to promote clean energy development, while Mexico has imposed provisional anti-dumping duties on PET resin and steel screws originating from China to protect its domestic industries.
In 2023, China-Africa trade volume reached $282.1 billion, a 1.5% year-on-year increase. Chinas imports of agricultural products from Africa and exports of new energy vehicles, lithium batteries, and photovoltaic products to Africa saw significant growth, highlighting strong trade complementarity and positive development momentum between China and Africa.
China launches countervailing investigation into EU-origin dairy imports, affecting major dairy exporters like Ireland, Germany, and France. Ireland, with dairy exports worth approximately €420 million (7% of global exports), is particularly concerned about trade dispute impacts.
Turkey plans to build a railway connecting the Persian Gulf, Mediterranean, and Black Sea as part of its Cotton Road initiative, aiming to provide new trade routes between China and Europe, reduce transportation costs, and compete with the Belt and Road Initiative.
The EUs Zero Deforestation Regulation aims to reduce deforestation and carbon dioxide emissions, impacting companies producing goods containing materials like rubber and palm oil. It mandates strict raw material traceability, with non-compliant entities facing fines.
The Canadian government announced that starting October 1, it will impose a 100% surtax on electric vehicles originating from China. This additional tax will be applied on top of the existing 6.1% tariff, significantly increasing the cost of Chinese EVs entering the Canadian market and impacting Sino-Canadian trade relations.
According to data released by the General Administration of Customs, Chinas total import and export value in the first seven months of this year reached 23.55 trillion yuan, a year-on-year increase of 0.4%. Exports totaled 13.47 trillion yuan, up 1.5%, while imports reached 10.08 trillion yuan, down 1.1%.
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