Author: Editorial Desk

Shares in major German carmakers fell sharply Wednesday as U.S. President-elect Donald Trump’s re-election raised concerns about new tariffs on foreign-made vehicles. The prospect of steep import tariffs unsettled investors, leading BMW shares to drop 6.6%, Mercedes-Benz 6.4%, Porsche 4.9%, and Volkswagen 4.3% on the German DAX index. Trump has pledged to protect U.S. automotive jobs, especially in Michigan, with a proposed 10% tariff on all imported goods. At a recent rally in Georgia, he stated, “I want German car companies to become American car companies. I want them to build their plants here.” The U.S. is the largest export…

Vietnamese businesses must enhance innovation, improve competitiveness, and engage in new supply chains to strengthen exports across Asia, urged Quyen Anh Ngoc, Deputy Director of the ASEAN Division under the Ministry of Industry and Trade (MoIT). Speaking at a November 5 conference focused on trade promotion in Asian markets, Ngoc called on companies to work alongside government bodies and trade associations to develop strategic production and business plans that capture emerging opportunities. Ngoc highlighted the importance of understanding free trade agreements, particularly the Regional Comprehensive Economic Partnership (RCEP), within the ASEAN framework. With RCEP’s enactment, certain Vietnamese exports—including seafood, meat,…

As the U.S. election approaches, global agricultural trade faces potential shifts that could directly or indirectly affect Brazil. The race between Kamala Harris and Donald Trump spotlights issues pivotal to rural voters, including tariff barriers, agricultural protectionism, sustainability, climate change, and the trajectory of U.S. trade and exports. The candidates’ contrasting stances on trade and environmental policies may reshape relations with key partners like China and influence the competitive dynamics in global agricultural markets. Shifting Trade Relations with China China’s demand for U.S. agricultural products has recently slowed, posing a challenge for the U.S. candidates, who will need to address…

Kazakhstan is set to expand its flaxseed oil exports to Japan following a surge in Japanese demand. During a meeting with representatives from Japanese firm Jateco, Aizhan Bizhanova, Kazakhstan’s First Vice Minister of Trade and Integration, explored opportunities to increase exports of Kazakhstani flaxseed and other oils to meet rising Japanese interest in the health benefits of these products. Flaxseed oil from Kazakhstan has rapidly gained popularity in Japan, with annual demand reaching about 10,000 tons—significantly outstripping current imports. In response, Jateco announced plans to increase its import volume of Kazakhstani flaxseed oil to 3,000 tons annually, with additional interest…

To reduce Indonesia’s dependence on imported liquefied petroleum gas (LPG), the Ministry of Energy and Mineral Resources (ESDM) is hastening efforts to advance LPG downstreaming. The initiative, led by ESDM Minister Bahlil Lahadalia, focuses on bolstering domestic production capabilities, thereby minimizing the need for foreign-sourced LPG. During a press conference on Monday, November 4, 2024, Minister Bahlil stressed the importance of building local infrastructure for LPG production. “[That’ll be possible] if we mandate the downstreaming of LPG,” he stated. Central to this initiative is the establishment of local LPG production plants, which will be primarily managed by Indonesia’s state-owned energy…

Australia is set to bolster its trade ties with China, as Trade Minister Don Farrell announces progress in removing the last export barriers impacting Australian exports. Currently in China for the world’s largest import expo, Farrell is leading a delegation of over 250 Australian businesses, aiming to expand trade and diversify markets. During his visit, Senator Farrell met with Chinese Commerce Minister Wang Wentao, discussing the resolution of trade restrictions on two Australian abattoirs, marking the final step in a lengthy trade standoff that affected billions of dollars in exports, including wine and barley. Farrell confirmed that China’s ban on…

The 7th China International Import Expo (CIIE), held from November 5 to 10 in Shanghai, has gathered participants from 152 countries, regions, and international organizations. This year, 297 Fortune Global 500 companies and industry leaders will attend, reflecting China’s commitment to economic openness. Since CIIE’s launch, around 2,500 new products, technologies, and services have debuted, with intended turnover surpassing $420 billion, making it a pivotal platform for trade and cooperation. China has recently intensified policies to boost foreign trade and attract investment. On October 25, it introduced guidelines to extend high-standard trade regulations in Free Trade Zones (FTZs) and the…

In the 1990s, America debated openness to international trade. Today, the discussion has reversed, with candidates exploring economic self-reliance. Donald Trump and Kamala Harris propose contrasting U.S. trade policies, both marking a shift from traditional free trade. Donald Trump’s stance is the more radical. Known for his ‘tariff man’ rhetoric, he has proposed tariffs that could transform American trade strategy. During his first term, Trump imposed tariffs on items like washing machines and steel, escalating to a trade war with China. For a potential second term, he plans a universal 20% tariff on all imports, with tariffs on Chinese goods…

The International Monetary Fund (IMF) forecasts 4.6% economic growth for Asia in 2024, highlighting risks from trade tensions, China’s property sector issues, and potential market turbulence. In its regional economic outlook, the IMF warned that price pressures from China could heighten trade tensions by affecting industries in neighboring countries with similar export structures. It urged Beijing to adopt policies for a more demand-driven recovery, noting that a significant slowdown in China could impact both regional and global economies. China’s growth forecast for 2024 was adjusted to 4.8%, slightly up from April’s estimate but down from last year’s 5.2%. “China’s policy…

The Brazilian and U.S. poultry industries have reached a significant agreement to collaborate on overcoming trade barriers in international markets. In late October, the Brazilian Association of Animal Protein (ABPA) and the U.S. Poultry and Egg Industry Export Council (USAPEEC) signed a cooperative agreement, pledging to address protectionism, health regulations, and other obstacles that hinder free trade. The partnership covers key areas such as promoting environmental sustainability in poultry production and trade, establishing science-based regulations on animal health and food safety, and supporting international poultry trade through cooperative relations. The agreement emphasizes mutual goals, despite competition, and aims to benefit…