U.S. supply chains adopt “China Plus One” strategy to diversify trade patterns
“The main countries benefiting from that shift are Taiwan and Vietnam, which saw their total trade with the U.S. increase in 2019 by $18.7 billion and $9.1 billion, respectively, CBRE found. Smaller increases are also going to Belgium, the Netherlands, and France, all within the European Union.”
How much trade is dodging Trump’s China tariffs?
“By analyzing trade data, Quartz identified likely candidates for Chinese goods transshipped through third countries and then on to the US in an effort to avoid tariffs. Nearly $400 million in goods fitting this rubric came to the US from Vietnam, Taiwan and Thailand alone in the first quarter of 2020. At the current average tariff rate of 19.3%, after a peak of 21% last year, that might represent up to $60 million in avoided duties.”
India in talks with EU for trade deal, open to pact with UK
“‘Apart from pharmaceuticals, we have textiles, handicrafts, leather, furniture, industrial machinery, toys are areas where India can engage with UK & EU at competitive prices,’ Goyal said.”
Livestock added to U.S.-Japan organic trade arrangement
“The arrangement goes into effect July 16, 2020 and reduces costs and streamlines the process for anyone involved in the organic livestock supply chain by requiring only one organic certification.”