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Global Trade Management: Page 17

EU and Japan Agree to Cooperate on Digital and International Trade

The principles establish a common understanding of key digital trade issues and a joint commitment to create an open digital economy that's free of “unjustified” international trade barriers.

Photo: iStock.com/Oleksii Liskonih

Hungarian Minister Warns Against China 'De-Risking'

“Political leaders in Europe... are interested in so-called decoupling or de-risking. Which, to be honest, according to our understanding, would be [economic] suicide,” said Hungary’s Foreign Minister.

Photo: iStock.com/Oleksii Liskonih

Japan Reinstates South Korea as a Preferred Trading Partner

The restored status will take effect July 21, 2023, according to a June 27 statement from Japanese trade minister Yasutoshi Nishimura.

Yoon Suk Yeol (left) and Fumio Kishida (right). Tokyo, Japan. March 16, 2023. Photo: Kiyoshi Ota/Bloomberg

European Gas Advances as Market Focuses on Outages, Hot July

"Temperatures above the norm across Europe could potentially increase energy demand for cooling purposes,” said Energi Danmark in a note.

Photo: Oliver Bunic/Bloomberg

Sinking Global Trade Hurts Asia, Helps Western Countries

In May 2023, exports from South Korea were down 11% over the last 12 months when compared to levels recorded during September 2022.

Photo: iStock.com/NicoElNino

Biden Energy Subsidies Risk Distorting Critical Metals Market, UK Minister Warns

The Inflation Reduction Act has been a "huge challenge,” according to U.K. Business Minister Nusrat Ghani who said that the lure of the U.S. "distorts the market.”

Brazil. June 2023. Photo: Bloomberg

Airbus Outsells Boeing as Focus Shifts from Buying to Building

North American and European carriers sat largely on the sidelines while Airbus raked in a record-setting deal for 500 narrowbody jets from low-cost carrier Indigo.

Paris Air Show in Le Bourget, France. June 19, 2023. Photo: Bloomberg

Shein Eyes Overseas Expansion to Shift Supply Chain Beyond China

The company will launch an online marketplace in Mexico followed by rollouts in Germany, Spain, France and Italy during the third quarter of 2023.

Singapore. June 2023. Photo: Ore Huiying/Bloomberg

Kinaxis Unveils New Supply Chain Innovations

Kinaxis highlighted four new product innovations during the first day of its annual customer community conference, Kinexions, which began June 20.

Photo: iStock.com/Chainarong Prasertthai

Saudi Arabia Signs $5.6bn EV Manufacturing Deal with Chinese Company

The memorandum of understanding accounted for more than half of the $10 billion of investments signed by the Kingdom and China during the Arab-China Business Conference.

Flags of China and Saudi Arabia. Photo: iStock.com/Mo Semsem

Canada Joins U.S. Trade Complaint Against Mexico’s GMO Corn Ban

Canada's Trade and Agriculture Ministers said the country "shares the concerns" of the U.S. that Mexico's measures could potentially disrupt the North American trade market.

San Luis Potosi, Mexico. 2021. Photo: Bloomberg

U.S. Expands China Forced-Labor Embargo with Ban on Two New Firms

Ninestar Corp. and Xinjiang Zhongtai Chemical Co. Ltd. were both added to the list June 9 bringing the total number of companies to 22.

Hetian, China. 2007. Photo: China Photos/Getty Images/Bloomberg

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