Taiwan’s government agreed Thursday to ease restrictions on imports of Canadian beef from cattle aged 30 months or older, granting Canadian beef exporters full access to the Taiwanese market. Taiwanese Food and Drug Administration (FDA) Director Wu Shou-mei said the changes will take effect immediately, but six types of offal, including brains and eyes, will…
China’s Exports Declined by 7.5 Percent in May as Demand for Goods Wanes
Exports from China, the world’s second-largest economy, fell in May for the first time in three months amid waning global demand for Chinese goods. Data published on June 7 by China’s General Administration of Customs showed that exports, which serve as the main source of foreign exchange for China, fell 7.5 percent year over year, to $283.5 billion, marking…
US Reliance on China Drops Amid Trump Tariffs, Disruptive Policies, Ethical Concerns
April 27, 2023
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American dependence on imports from China has significantly diminished in recent years. Companies are scrambling to redirect their supply chains elsewhere to avoid unpredictable policy changes by the communist regime, tariffs imposed on China in 2018, and backlash over human rights violations. February imports from China came in below $31 billion, the lowest since 2006,…
America’s Trade Deficit Surged in 2022, Nearing $1 Trillion
February 8, 2023
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The U.S. trade deficit hit close to record levels in 2022, nearing a total of $1 trillion. American consumers continued to spend heavily on foreign-made goods last year, widening the overall trade deficit even further by 12.2 percent, or $103 billion, in 2021. As of the beginning of the year, the goods and services deficit now…
US Imports of Containerized Goods Retreat to Pre-Pandemic Level
January 10, 2023
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LOS ANGELES—U.S. imports of goods in ocean shipping containers in December fell to levels approaching those last seen before the COVID-19 pandemic, a new report said on Tuesday. Demand for kitchen appliances, furniture, big-screen TVs, apparel, and other retail goods softened late last year as record inflation bit into disposable income and consumers shifted spending…
China Trade Shrinks Amid Virus Pressure, Interest Rate Hikes
December 8, 2022
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BEIJING—China’s imports and exports shrank in November under pressure from weakening global demand and anti-virus controls at home. Exports sank 9 percent from a year ago to $296.1 billion, worsening from October’s 0.9 percent decline, customs data showed Wednesday. Imports fell 10.9 percent to $226.2 billion, down from the previous month’s 0.7 percent retreat in…
US GDP Rose by Forecast-Beating 2.9 Percent Last Quarter, but Experts See Weakness Behind the Numbers
November 30, 2022
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The real gross domestic product (GDP) of the United States grew at an annual rate of 2.9 percent in the third quarter of 2022, increasing more than the advance estimate of 2.6 percent issued by the Bureau of Economic Analysis (BEA) last month, but expert analysts are warning against premature celebrations amid a looming recession….
US Import Prices Decline for First Time in 7 Months
U.S. import prices posted their first decline in seven months in July, helped by a strong U.S. dollar and on lower costs for both fuel and nonfuel products in another sign that inflation may have peaked. Import prices fell by a more-than-expected 1.4 percent last month after rising 0.3 percent in June, the Labor Department…
US Import Prices Increase Solidly in May
WASHINGTON—U.S. import prices increased solidly in May amid higher prices for petroleum products, but there were tentative signs of some moderation in underlying imported inflation pressures. Import prices rose 0.6 percent last month after gaining 0.4 percent in April, the Labor Department said on Wednesday. In the 12 months through May, import prices increased 11.7…
Europe’s Russian Diesel Imports Drop, but Still Dominant
LONDON—European diesel imports from Russia are set to fall in April but will still exceed those from other regions, highlighting the challenge European governments face as they contemplate new sanctions on Russian oil. Diesel deliveries from Asia, the Middle East, and the United States are set to hit their highest in almost three years in…
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