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.
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The Global Container Port Performance Index report shows that Yangshan Port in China has topped the list globally for consecutive years. Ports in East Asia and Southeast Asia have an overall excellent performance, and technological innovation and infrastructure investment are the keys.
The Brazilian government announced that it will migrate from the Siscomex LI/DI system to the single foreign trade portal Duimp, aiming to simplify import declarations, improve efficiency, reduce costs, and enhance transparency.
South Korea Breaks up a Semiconductor Chip Smuggling Case for the First Time, Arrests Executives Involved in Illegally Exporting US - made Chips to China, Involving Illegal Export of Strategic Goods and False Declaration.
The Council of the European Union announced the imposition of prohibitive tariffs on imported grain products from Russia and Belarus, and the cancellation of tariff quotas, aiming to increase economic pressure and prevent illegal grain products from entering the market.
EU legislation restricts methane emissions, requiring international suppliers to comply with strict monitoring standards, impacting the global oil and gas industry, including supplier countries like the U.S., Algeria, and Russia.
In April 2024, Russias wine imports surged to 62 million liters, with Italy, Georgia, and Spain as the top three suppliers. The market demand for high-quality wines is growing, and domestic wine production is increasing.
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