Trade Information

Amid ongoing international attention on the Russia-Ukraine conflict, the Council of the European Union approved its 15th sanctions package against Russia on December 16, 2024, under Council Decision (CFSP) 2024/3182.

Recent data released by Statistics Canada shows that the country's Consumer Price Index (CPI) rose 1.9% year-on-year in November, slightly down from October's 2.0% inflation rate.

On the 15th, the United Kingdom officially joined the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), becoming the first European country to enter this trade pact.

According to the National Bureau of Statistics, China's economy maintained its recovery momentum in November, continuing the positive trend observed since September.

The Office of the United States Trade Representative (USTR) has announced a significant tariff increase on Chinese imports of solar wafers, polysilicon, and select tungsten products.

Maersk's first warehouse in France is now fully operational, located in the GLP Park Denain, one of Europe's key logistics hubs.

In December, Bisphenol A (BPA) prices in China have shown a consistent upward trend. As of now, BPA prices in East China range between 9,400–9,450 RMB/ton.

In the first 11 months of 2024, the total value of China's foreign trade of goods (hereinafter the same) was 39.79 trillion yuan.

For China's exporters, key questions emerge: How will tariffs be implemented? What does 2025 hold for global trade? And what will be the ripple effects across China's industries?

Coupled with the impacts of the global energy crisis and inflation, the competitiveness of overseas chemical production has further diminished, leading several global giants to cut back on polyester capacity.

BASF holds multiple industry-leading titles, such as being the largest global producer of antioxidants, TPU, PA66, PA6, and PBT. It is also the top supplier of automotive chemicals, dominating several specialized markets worldwide.

Year-over-year, exports surged by 15,100 tons, a growth rate of 66.81%. This marks the highest monthly export volume in 20 months.

Last Wednesday, EU member states approved the imposition of final antidumping duties on titanium dioxide (TiO2) imports from China.

The Interim Final Rule on Foreign Direct Product (FDP) and Advanced Computing and Semiconductor Manufacturing Controls and the Final Rule on Entity List Additions, Modifications, and Deletions.

According to the notice, the export of dual-use items to military users or for military purposes in the United States is prohibited.

Due to significant delays at Port Louis caused by infrastructure inefficiencies and severe weather conditions, Maersk will impose a Congestion Fee (CFD) on shipments to Mauritius.

U.S. President-elect Donald Trump's proposed 25% tariff on imports from Canada and Mexico has raised alarms among alcohol distributors.

Last week, China's national railways transported a total of 81.035 million tons of cargo, marking a 1.08% week-on-week decrease.

The government hopes this transformation will encourage local companies to invest in profitable products and pursue mergers and acquisitions to enhance competitiveness.

According to incomplete statistics, over ten titanium dioxide (TiO₂) manufacturers in China are currently either reducing production or halting operations.

On a daily basis, this translates to the movement of 523,000 TEUs worldwide.

In the first three quarters of 2024, the total trade volume of pharmaceutical products between China and countries along the 'Belt and Road' (B&R) reached $32.084 billion, marking a year-on-year increase of 3.72%.

He noted that President Xi Jinping has reiterated China's commitment to pursuing CPTPP membership at several high-level diplomatic forums.

In a significant step toward promoting diversity and inclusion, Maersk has transformed one of its warehouse facilities at the Chennai Ponneri Container Freight Station (CFS) into a women-operated site.

Economic growth in the third quarter of 2024 displayed diverse trends across key nations, influenced by varying domestic and international factors. Below is a summary of notable GDP growth figures and underlying drivers for major economies.

The U.S. Department of Transportation’s Maritime Administration (MARAD) announced a $580 million investment in port improvement projects across 15 states and one U.S. territory.

The G20 Leaders' Summit serves as a key forum for discussing international economic cooperation and offers an effective platform for dialogue between the Global South and the Global North.

Export tax refunds will be canceled for products such as aluminum materials, copper materials, and chemically modified animal, vegetable, or microbial oils and fats.

New Zealand's Trade Minister, Todd McClay, recently announced in Doha that New Zealand and the Gulf Cooperation Council (GCC) have reached a Free Trade Agreement (FTA).

On November 15, 2024, the Brazilian Official Gazette announced that Brazil's REACH regulation, Law 15.022, has officially come into force.