EU imports from Xinjiang have doubled despite concerns over forced labor
“The strong exports were led by some commodities ― including tomato-based products, cotton goods, components for artificial fibers, and wind power equipment ― that the US and campaigners have linked with forced labor in Xinjiang. The EU has not banned such imports but it is drawing up a supply chain due diligence plan to restrict the flow of goods made using forced labor into the market. A first draft is expected later this year.”
[The Korea Times]
China still falling short of meeting agreement to reduce U.S. trade surplus
“However, as of June, both Chinese and U.S. government data indicated that China had bought less than 70% of the year-to-date target, according to estimates from Peterson Institute senior fellow Chad P. Bown. Agriculture purchases again came the closest to meeting agreement levels, at 90% of the target, according to U.S. data that Bown cited.”
[CNBC]
India improves ranking in trade facilitation aided by reforms
“Other parameters like paperless trade improved to 96.3 per cent in 2021 from 81.48 per cent in 2019 while cross-border paperless trade improved to 66.67 per cent in 2021 from 55.56 per cent in 2019, it said. The survey notes that India is the best performing country when compared to south and south west Asia region (63.12 per cent) and Asia Pacific region (65.85 per cent), it said.”
[Financial Express]
EU chief rejects renegotiation of trade rules with Britain
“EU officials contend the rules are necessary to protect the European single market from goods that don't meet its standards for food safety and animal welfare. Britain says the EU is taking a ‘purist’ approach to the rules that is causing unnecessary red tape for businesses and has called for the bloc to show ‘pragmatism.’”
[CBC]
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