Responding to the EU's "Carbon Tariff”: Opportunities and Challenges for Chinese Companies
1 June 2023
On May 15, 2023, the European Unions Carbon Border Adjustment Mechanism (CBAM) law, also known as the “carbon tariff,” officially came into effect. The implementation of this law indicates that the “carbon tariff” may become an important factor affecting international trade in the future. In this context, how should Chinese export companies respond? For Chinese export companies, this is both an opportunity and...
Analysis of Vietnam's import and export data in the first five months: Export prospects continue to be sluggish
31 May 2023
In global trade, understanding and analyzing import and export data is crucial. This article explains in detail Vietnams import and export data for the first five months, as well as the continued sluggishness of the export outlook. I. Export Data According to Reuters, data released by the General Statistics Office of Vietnam shows that in the first five months of this year, Vietnams exports decreased by 1I. 6% year-on-year to 136.17 billion US dollars; among them, exports in May...
Bangladesh is facing a serious foreign exchange reserve crisis, and banks may not be able to pay for imports on time
30 May 2023
According to Reuters, Bangladesh is currently facing a severe shortage of US dollars, and cannot even afford to pay for gas bills, with import payments being repeatedly delayed. The Bangladesh Petroleum Corporation (BPC) owes more than 300 million US dollars to six overseas companies, some of which have shipped less than the scheduled amount or threatened to stop supplies. Bangladesh is struggling to cope with the damaged...
MSC announces upgrades to 11 intra-Asia routes
26 May 2023
地中海航運（MSC）宣布升級11條亞洲區內航線，以進一步加強其亞洲內部網絡，并提供更便捷的直航服務，縮短轉運時間并增加運力。這一升級計劃將于2023年6月開始生效，為客戶提供更高效的貨運服務。 以下是MSC升級后的服務和首航安排： Seagull ...
India plans to file a complaint with the WTO against the EU's carbon border adjustment mechanism
May 25, 2023
India has recently taken a tough counteraction to the European Union’s Carbon Border Adjustment Mechanism (CBAM). CBAM is commonly referred to as the “EU Carbon Tariff” and the EU plans to launch a transitional period on October 1 this year. However, Indian government and industry senior sources have revealed that India intends to file a complaint with the World Trade Organization (WTO) about the EU’s carbon tariffs. Developing countries such as India believe that the EU has introduced...
Vietnam's foreign trade faces challenges, with declining exports becoming the focus
May 25, 2023
Vietnams foreign trade has faced a series of challenges, with exports down 11.9% year-on-year in the first quarter and a further 17.19% drop in April. Vietnams economy is highly dependent on exports, which has also led to a GDP growth of only 3.32% in the first quarter, the lowest in twelve years. However, the economic growth target of 6.5% this year has proven to be challenging. Vietnams export share by country Compared to...
China and Uzbekistan signed AEO mutual recognition agreement
24 May 2023
China Customs became Uzbekistan’s first “certified operator” (AEO) mutual recognition partner, announced at the “China-Central Asia Summit” held on May 18. The two sides signed the “Customs Agreement between the General Administration of the People’s Republic of China and the Customs Commission of the Ministry of Economy and Finance of the Republic of Uzbekistan on the “certified operator” system”, which marks China’s mutual recognition.
U.S. supply chains resume efforts but face material shortages and workforce challenges
23 May 2023
According to reports, the US supply chain is gradually recovering from the early pandemic shocks. However, more than three years later, the US is still facing material shortages and hiring difficulties. The past shocks led to a surge in transportation costs and squeezed the supply of various products from toilet paper to pasta. However, recently, as consumers shift their spending from big-ticket items such as furniture...
Retailers such as Walmart and Nordstrom will close 900 stores
22 May 2023
According to a report by CNN, the wave of store closures by retailers such as Walmart and Nordstrom in the United States will continue this year, involving complex reasons. Walmart plans to close about 20 stores, and Nordstrom will close 15 stores. The pharmacy chain CVS announced in 2021 that it plans to close 900 stores within 3 years. According to a report by UBS, in the next five years...
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