Global Scans · Trade · Weekly Summary

WHAT'S NEXT?: Global trade policies could be upended with a new President in the White House, Brexit, a potential break-up of the European Union and China reacting to these changes in profound ways.

• [New] While the EU is expected to impose tariffs on Russian grain exports soon, it is still possible that importers from other countries will follow China's lead in the coming months. Hfw
• [New] While Ukrainian grain supply has now stabilised more than might otherwise have been expected, Ukraine still faces challenges and uncertainty in the face of ongoing attacks which will continue to impact the reliability of its grain exports. Hfw
• [New] Artificial Intelligence will play an important role in furthering the possibility landscape in Cricket by looking into emotional data aspects such as players' anticipation or temperament balance. Cricket Times
• [New] Turkey will impose restrictions on the export of products from 54 different categories to Israel until a ceasefire is declared in Gaza. The Guardian
• [New] The hydrogen working group will report to the Steering Committee on the challenges and opportunities of hydrogen trade between Canada and Germany. Ontario.ca
• [New] Ontario's location within the Great Lakes region is beneficial for trade with the United States and overseas markets including Europe and Asia, which could include trading low-carbon hydrogen and associated technologies in the future. Ontario.ca
• [New] The United States will need to pursue engagement around the world in places whose strategic importance is not immediately clear to the public - but where U.S. engagement may have outsized impact. War on the Rocks
• [New] In any conflict scenario, Australia will still depend on international shipping to carry its trade. Baird Maritime
• [New] UK exporters might wish to consider taking advantage of Argentina's large industrial base to locally manufacture some elements of their products, to reduce transport and other export costs. Great.gov.uk
• [New] A weaker-than-expected recovery in China could trigger negative spillovers to its trading partners, especially in countries whose exports are linked strongly to investment or commodity demand in China. The Business Times
• [New] Retail apparel brands in the US and the EU, which collectively represent a significant portion of global apparel trade, are expected to liquidate high inventory build-up. Indian Retailer
• [New] In the EU, the European Commission is looking into whether Chinese EV makers have an unfair advantage thanks to government subsidies, and could recommend higher tariffs. Fortune
• [New] The increased costs and measures could change the way businesses import their goods, perhaps reducing the frequency of orders, increasing the price for the consumer and ultimately limiting the variety of products available in UK shops and restaurants. Euronews.com
• [New] As the United States buys less from China and more, say, from Vietnam, then Vietnam will buy more intermediate goods from China to process and export to the United States. Sri Lanka Guardian
• [New] Based on UOB Business Outlook study, Thai businesses commonly see sustainability adoption as an important factor for improving reputation, attracting investors and increasing opportunities to work with large corporations. Bangkok Post
• [New] Biden's threat to set conditions on support for Israel based on Israel's behaviour in Gaza is a very important step. The Conversation
• [New] The Trade and Agriculture Commission has warned of the potential increased costs of products due to tariff reductions, because UK producers will be held legally to higher sustainable standards. theyworkforyou
• [New] The aim of removing tariffs is to increase trade, so it seems implausible to say that we do not think it will increase the amount of palm oil in the UK that comes from unsustainable forests. theyworkforyou
• [New] The new University of Copenhagen research may prove of great importance for the design of quantum computers and could even be a map to superconductors that function at room temperature. phys.org
• [New] Bangladesh is going to lose some of its advantages even under regional trade agreements such as the South Asian Free Trade Area and the Asia Pacific Trade Agreement. The Business Standard
• Brexit has impacted the British food industry by causing disruptions to supply chains, increasing production costs, and creating uncertainty around trade agreements and regulations. TVRN

Last updated: 11 April 2024