Chinas Customs Tariff Commission announced zero-tariff treatment for all products from least-developed countries (LDCs) with diplomatic ties to China, effective December 1, 2024, to expand openness, foster shared development, and deepen China-Africa trade cooperation.
Data from Chinas General Administration of Customs shows that from January to August 2024, Chinas household appliance exports grew by 14.7% year-on-year, driven by restocking demand in overseas markets and the globalization strategies of Chinese companies. Despite global economic headwinds, appliance exports remained robust.
China imported mutton from Madagascar in Africa for the first time. Chinese small household appliances are popular in the South Korean market. China launched an anti - dumping investigation into Canadian rapeseed. The trade volume between China and the Caribbean region has increased tenfold in 20 years, demonstrating Chinas active role and influence in global trade.
Norwegian Prime Minister Jonas Gahr St?re clearly stated during an event in Shanghai that Norway will not unilaterally impose sanctions on Chinese electric vehicles, emphasizing that Norway does not have a common trade policy with the EU and will not participate in unilateral actions. At the same time, he mentioned that China should respond to the EUs concerns.
Data from the General Administration of Customs of China shows that in the first eight months of 2024, Chinas total value of goods imports and exports increased by 6% year - on - year, with exports increasing by 6.9% and imports increasing by 4.7%. The trade surplus expanded by 13.6%, and the export of mechanical and electrical products accounted for nearly 60%. The trade structure continued to be optimized.
The EU is preparing to slightly reduce the additional tariffs on electric vehicles imported from China. The tax rate for Tesla electric vehicles will be reduced from 9% to slightly less than 8%. The final tariff will be voted on by member states before November. Previously, the Chinese Ministry of Commerce expressed opposition to the EUs final ruling disclosure.
The Dutch government announced stricter export controls on chip manufacturing equipment, particularly deep ultraviolet (DUV) lithography systems, to align with U.S. regulatory measures. This move may impact the global semiconductor industry landscape.
Indonesian government extends textile import tariffs to protect domestic manufacturers from cheap foreign imports, creating recovery opportunities for the local textile industry and enhancing market competitiveness.
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PSB Record: Shanghai No.31011502009912
