The Red Sea Crisis has a profound impact on international trade. The freight rate has doubled directly, the voyage cost around the Cape of Good Hope has increased by about 30%, the spot freight rate of the Asia - Europe route has increased significantly in the short term, and it may damage international trade in the long term.
The Bulgarian Parliament voted to ban the export of fuels made from Russian oil and the processing of Russian oil starting from 2024, in response to the EUs embargo on Russian oil.
The investment of six major Japanese semiconductor manufacturing equipment companies is expected to reach 547 billion yen in the 2023 fiscal year, 1.7 times higher than five years ago, demonstrating Japans competitiveness in the global semiconductor equipment manufacturing field and the growth of market demand.
MSC Suspends the Use of the Suez Canal in Response to Houthi Attacks on Red Sea Shipping. Global Shipping Faces New Geopolitical Challenges.
Recently, Germany and the European Public Prosecutors Office (EPPO) jointly uncovered a criminal organization involved in customs duty and import VAT fraud worth up to €200 million, highlighting the importance of international law enforcement cooperation.
Due to stagnation caused by reliance on specified raw materials, Vietnams garment and textile industry is experiencing unprecedented difficulties. In 2023, the industrys export volume and revenue significantly declined, affected by the global economic downturn and shrinking market demand. This report provides an in-depth analysis of the main patterns of Vietnams garment exports, changes in the international market environment, and the future outlook of Vietnams textile industry, offering a comprehensive analysis of the industrys current situation.
South Korea Announces Plan to Reduce Tariffs on 76 Commodities in 2024 to Enhance Industrial Competitiveness and Lower Price Burdens, Including Flexible Tariffs and Adjustments to Tariff Systems for Key Industrial Raw Materials and Food Products.
Amid the economic changes in 2023, Mexicos rise has significantly impacted global trade dynamics, particularly in the trade relationships among China, the U.S., and Mexico. This article delves into the reasons behind Mexico surpassing China as the U.S.s largest import source and the underlying economic trends.
According to reports from Reuters and AFP, the G7 plans to ban the direct import of Russian diamonds from January 1, 2024, and gradually restrict the import of Russian diamonds processed in third countries starting from March 1.
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