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The Regional Comprehensive Economic Partnership Agreement (RCEP) is a trade agreement initiated by the ten ASEAN countries and inviting 16 countries including China, Japan, South Korea, Australia, New Zealand, and India to participate. It aims to reduce tariff and non - tariff barriers and establish a unified market.
The signing and implementation of RCEP will have the following impacts on foreign trade exports:
The Red Sea crisis and tariff uncertainties have led to an early peak season at U.S. West Coast ports, with rising freight costs. Importers and retail association members are considering stockpiling goods to prepare for potential tariff changes.
When importing goods to the US, foreign trade enterprises should pay attention not only to US import tariffs but also other import-related fees.
In the first half of 2024, Russias natural gas production and exports showed significant growth, demonstrating its resilience and adaptability in the global energy market despite Western sanctions.
The impact of U.S. interest rate hikes on foreign trade mainly arises through their effects on currency exchange rates and trade financing costs.
On January 3, 2023, the Australian Anti - Dumping Commission issued Announcement No. 2023/001, stating that the anti - dumping measures on steel pallet racks (Steel Pallet Racking) imported from China and Malaysia will expire on May 8, 2024.
A commercial draft is a bill of exchange accepted by a payer other than a bank (commercial company). The drawer can be both the payee and the payer, but the acceptor must be the payer. The advantages of commercial drafts are obvious: the amount is not limited, and the maximum term can be up to 6 months.
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PSB Record: Shanghai No.31011502009912
