China’s share of U.S. imports falls to lowest since 2006
“Countries like Mexico and Vietnam have benefited from the shift, with Chinese exports to and foreign direct investment in those places also on the rise. Mexico’s share of US goods imports rose to 15% on average in the 12 months through July, the highest on record in 30 years of data. Vietnam’s share was 3.7%, a bit below the high reached in 2022.”
[American Journal of Transportation]
Paralysis at WTO sees protectionism take hold
“Rather than relying on the WTO’s lengthy dispute process to litigate their disagreements, the US, China and other nations have prioritized unilateral trade penalties as a more efficient way to protect their markets.”
[Bloomberg]
Bangladesh closing in on China in cotton apparel exports
“The study indicates that U.S. fashion companies have shifted sourcing away from China for a number of reasons. They include the Uyghur Forced Labor Prevention Act, Section 301 tariffs on Chinese exports and a move toward nearshoring to minimize the risk of supply chain disruptions due to logistical and political issues.”
[Sourcing Journal]
U.S. curbs AI chip exports from Nvidia and AMD to some Middle East countries
“The Commerce Department, which administers licensing requirements on exports, said on Thursday through a spokesperson that the U.S. ‘has not blocked chip sales to the Middle East’ and declined to comment on whether it had imposed new requirements on specific US companies.”
[Reuters]
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