Facing Chinas urea export restrictions, South Korea quickly adjusted its import sources. Vietnam became the largest supplier. The government supported domestic production and established a huge fund to ensure supply chain stability.
In May 2024, Chinas semiconductor equipment imports and Shanghais exports to Russia increased significantly, injecting new vitality into the domestic industry and demonstrating the resilience and potential of Sino - Russian trade relations.
After more than two months of cleaning and at a cost of $160 million, the Port of Baltimore fully resumed operations after the freighter bridge - collision disaster, which is crucial to the US supply chain.
Chile has taken a historic step by submitting an application to join the RCEP, aiming to deepen global economic integration and promote trade growth, which is of far-reaching significance for China-Chile economic cooperation.
Facing a potential 25% tariff increase, Chinese electric vehicles face tests in the EU market, revealing the complexity of China-EU trade relations amid German opposition.
In Q1 2024, EU clothing imports decreased by 2.5% YoY, but imports from China grew against the trend by 14.8%, with market share rising and price drops driving import changes.
Turkey announced a 40% additional tariff on Chinese vehicles to protect domestic industries. Chinese automakers face new challenges and need to adjust strategies to cope with changes in the Turkish market.
In the first five months of 2024, Chinas total import and export value of goods trade increased by 6.3% year-on-year, with an expanding trade surplus, demonstrating foreign trade resilience and economic vitality. Exports of mechanical and electrical products and imports of bulk commodities both showed growth.
Clothing and Luggage | Shanghai Import/Export Agent
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