Japan's export growth in October hit its lowest mark in eight months, notching only a 9.4% year-over-year expansion, according to Ministry of Finance data. Economists had expected a 10.3% gain, Bloomberg reported Nov. 16. The lowered gains come as car shipments continue to slump and global supply constraints still weigh on the nation's economy. Steel and semiconductor manufacturing equipment saw healthy gains, but car exports dipped by more than a third. The data was released just a few days before Prime Minister Fumio Kishida is expected to release a package of measures to boost Japan's economy, including shoring up Japan's chip supply, Bloomberg said.
China dwelled on trade more than the U.S. did in the countries' respective summaries of the more than three-hour call between their presidents. But one think-tank author said China would like the tariffs to go away, "but will not pay too much to make it happen."
Vietnam announced lower duties on corn, wheat and pork imports this week, the U.S. Department of Agriculture Foreign Agricultural Service said Nov. 16. The country eliminated its most-favored nation tariff rates for all classes of wheat. Duties on corn dropped from 5% to 2% and on frozen pork from 15% to 10%. The tariff reductions for wheat and corn take effect Dec. 30; for frozen pork, July 1, 2022. USDA said the new tariffs are expected to give U.S. producers “greater access” to the Vietnamese market and make U.S. exporters more competitive with countries that have free trade deals with Vietnam.
China implemented new control and quarantine requirements on tomatoes entering the country to protect against tomato brown rugose fruit virus, China's General Administration of Customs said in a Nov. 12 notice, according to an unofficial translation. The regulations include an additional statement required for tomatoes that come from a ToBRFV-free country and field inspections for regions in which the virus has been found.
India's Directorate-General of Foreign Trade in a Nov. 15 public notice released its standard operating procedure for the random checking of imported metal scrap consignments with respect to radioactive contamination. Under the 14 steps, containers without a certificate issued by a Pre-Shipment Inspection Agency may not be unloaded and should be sent back to the country of origin.
India extended the transition period for the electronic mandatory filing of Non-Preferential Certificates of Origin through the Common Digital Platform to Jan. 31, 2022, India's Directorate-General of Foreign Trade said. Parties may continue submitting their applications in manual or paper mode will until that date, the DGFT said.
Despite continued disruptions to global supply chains and shipping, the Hong Kong port is maintaining relatively “normal operations,” the U.S. Department of Agriculture Foreign Agricultural Service said in a Nov. 10 report. USDA said the port is operating smoothly because of “close cooperation among major terminal operators,” allowing the “most efficient use of shared facilities such as berths and yards.” USDA also said Hong Kong has no labor or trucker shortage, and although berth congestion still “exists,” vessel turnaround time is “at most, one or two days long.” “In fact, Hong Kong’s port business has flourished in 2021,” USDA said. “The efficiency of the Hong Kong port and relatively reliable shipping schedules successfully attracts additional business.”
The Singapore Customs TradeNet will undergo system maintenance Nov. 28 4 a.m. to noon local time, it said Nov. 12. Singapore Customs advised users to avoid submitting applications during this time. This is in addition to the usual 4 a.m. to 8 a.m. Sunday maintenance.
Two new agencies, the Council for Leather Exports and Udaipur Chamber of Commerce & Industry, are now able to issue Non-Preferential Certificates of Origin, India's Directorate-General of Foreign Trade said. CLE is located in the Tamil Nadu state and the UCCI is in Rajasthan. The DGFT's notice also updated the name and contact information for one of the existing authorized agencies: Marathwada Industries Association, which changed its name to the Chamber of Marathwada Industries and Agriculture.
A Vietnamese oil tanker that was seized by Iran was released after being drained of its oil, having been seen in open water on Nov. 10, the Associated Press reported. Data the AP obtained from MarineTraffic.com showed that the ship, called The Sothys, left Iran's Bandar Abbas port and reached international waters in the Gulf of Oman, appearing to be anchored in the open waters. Iran's state-run IRNA news station said that the Revolutionary Guard Corps released the tanker after draining the alleged Iranian oil from it, under court order. The ship was suspected of shipping sanctioned Iranian oil to Asia.