Chinese and Russian officials want to expand trade and supply chain cooperation, with both sides emphasizing trade in agricultural goods, the Chinese Ministry of Commerce said Aug. 25, according to an unofficial translation of a news release. China wants to “deepen cooperation” with Russia in the “entire soybean industry chain,” and Russia said it is “willing to further expand exports of agricultural products to China,” the notice said. The countries also said they want to establish a “Sino-Russian soybean industry alliance.”
toSearch Primer
Term list: Separate terms with spaces, not commas or semicolons.
Multi-word term: Place inside quotes to ensure an exact match (e.g. "China import").
Acronyms: Use all capital letters to ensure the search is not looking for that letter sequence instead.
Required term: If a term must be included in any resulting articles, prefix it with a plus sign (e.g., +CBP).
Excluded term: If a term should be excluded from any articles being found, prefix it with a minus sign (e.g., -ruling).
Singular form: Always use the singular form when doing multi-word terms (e.g. "russian export control" instead of "russian export controls").
Shortest word form: When you have different word forms in a quoted (multi-word) term, you want to only include the shortest version if it is the last part of the expression (e.g., "entity list" instead of "entity listing" or "entity listed").
The European Union will modernize trade agreements in the Pan-European-Mediterranean region to make rules of origin more flexible and “business friendly,” the European Commission said Aug. 24. The origin rules for certain products will be “easier to meet,” the EU said in a guidance, adding that the deal will now include higher thresholds for the use of non-originating goods and will lift prohibitions on duty-drawbacks. The changes will also ease logistics and customs procedures by allowing for electronic versions of “origin proofs.” The new measures will apply to trade deals with Iceland, Liechtenstein, Norway, Switzerland, Faroe Islands, Turkey, Egypt, Israel, Jordan, Lebanon, Palestinian territories, Georgia, the Republic of Moldova, Ukraine, Albania, Bosnia and Herzegovina, North Macedonia, Montenegro, Serbia and Kosovo.
China is increasing imports of U.S. oil ahead of an expected meeting between U.S. and Chinese trade officials to review compliance with the phase one trade deal (see 2008170022), Bloomberg reported Aug. 18. Up to 14 million barrels of U.S oil will be delivered to China next month, the report said, more than twice the volumes set for August. The oil shipments would fill seven “super-class tankers,” the report said. Earlier this month, a Reuters report noted that energy purchases by China were falling far short -- at only 5% of the targeted $25.3 billion in energy products -- of the agreed commitment through the first half of the year (see 2008040023).
U.S. and Chinese trade officials postponed a virtual meeting that was to be held on Saturday, Aug. 15, and was expected to include a review of the implementation of the phase one trade deal, an Aug. 14 Reuters report said. The meeting was delayed due to “scheduling conflicts” and to allow China more time to purchase U.S. goods, Reuters said. The two sides haven't set a new date, it said. The White House and the Office of the U.S. Trade Representative did not comment. A Chinese Foreign Ministry spokesperson declined to comment during an Aug. 17 news conference.
Taiwan wants to begin negotiations on a free trade deal with the U.S., Taiwan President Tsai Ing-wen said Aug. 12, in a speech for think tanks the Hudson Institute and the Center for American Progress. The president said a trade deal with the U.S. is among her priorities during her second term, saying it will help increase Taiwan’s supply chain security.
The U.S. and the United Kingdom completed a “positive” third round of trade negotiations, carried out over the past two weeks ended Aug. 7, and agreed to begin the fourth round next month, the U.K.’s Department for International Trade said in a notice Aug. 12. The negotiations included discussions on technical barriers to trade, rules of origin and trade remedies. U.K. Trade Secretary Liz Truss, in separate discussions, focused on U.S. retaliatory tariffs on U.K. products, including on Scotch whisky, the notice said. Truss said the tariffs are “unacceptable and continued to push for their immediate removal.” The Office of the U.S. Trade Representative did not immediately comment.
The United Kingdom and Japan made progress toward a free trade agreement during meetings last week and expect to finalize the deal’s details by the end of August. The two sides reached “consensus on major elements” of the deal, Elizabeth Truss, the U.K.’s trade secretary, said Aug. 7. Japanese Foreign Minister Toshimitsu Motegi said “a substantial agreement has been reached in most of the 24 chapters,” according to an unofficial translation of a transcript of an online press conference. Motegi said the negotiations have focused on e-commerce trade, rules of origin and other “market access issues,” adding that the two sides “agreed to aim for a general agreement by the end of August.” The two countries began negotiations June 9 (see 2006090025).
Australia's new digital trade agreement with Singapore represents the “most ambitious digital trade rules” Australia has ever negotiated, that government said in an Aug. 6 news release. The deal includes provisions on e-commerce and is expected to make it “easier for [Australian] exporters to do business,” Trade Minister Simon Birmingham said. Birmingham said the agreement will help Australian companies “reach more customers and further tap into the Singaporean market.” The deal will also decrease costs for Singapore companies exporting to Australia, Singapore said, adding it hopes to better connect the two countries’ national single windows, implement “e-verification” for imports and exports, and better share and verify electronic trade documents.
Chinese and South Korean officials met in Qingdao, China, Aug. 1 to discuss trade and economic relief measures to mitigate the impact of the COVID-19 pandemic, an Aug. 5 China Ministry of Commerce news release said. China said the two countries are “well-placed to restore and promote commercial exchanges” now that each country has seen success in controlling the virus. “There’s an urgent need to explore paths to restore and develop trade,” China said.
The U.S. is unlikely to get a free trade deal done with the United Kingdom before the election., U.S. Trade Representative Robert Lighthizer said in written responses to members of Congress. A top British diplomat said in June that was his country's goal (see 2006110044). “While it is possible that an agreement between the United States and the UK could be reached in the next few months, the likelihood of that is low,” Lighthizer wrote. “I am more focused on achieving a comprehensive agreement that delivers real benefits for American workers, farmers, and businesses, rather than achieving a quick deal. That said, our teams are working at an accelerated pace, and I am in regular discussions with UK Trade Minister Elizabeth Truss. We are moving quickly and efficiently, but I will not sacrifice our ambitions for speed.”