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Cross Border Trade

All articles tagged with #cross border trade

business1 year ago

"Temu's Impact on Big Tech Profits and the Mysterious Rise of Chinese Ecommerce"

Chinese start-ups like Temu and Shein are spending billions on advertising through American tech giants like Meta and Google to break into the U.S. market, with Chinese-based advertisers accounting for 10 percent of Meta's revenue. This surge in spending highlights the interconnectedness of the Chinese and American economies, as Chinese companies seek access to global audiences while American tech companies profit from this cross-border trade despite the ongoing trade tensions between the two countries.

via The New York Times|
#american-tech-companies#business#chinese-advertising
trade2 years ago

Border Closure's Devastating Impact on Trade and Rail Operations

The closure of two major U.S.-Mexico rail bridges due to increased crossings by illegal migrants is causing "huge losses" and putting Mexico's livestock sector at risk, warns Mexico's main farm lobby. The closure has led to low inventories of yellow corn and soymeal, essential for the livestock sector, and threatens exports of beef and pork. The rail freight operator, Union Pacific, estimates the closures will have an economic impact of over $200 million per day and is working to reopen the crossings. This follows a similar warning issued by Mexico's main poultry producers association.

via Reuters|
#cross-border-trade#livestock-sector#mexico
border-security2 years ago

Border Closures Threaten Cross-Border Trade and Christmas Season

Union Pacific is urging the reopening of two key border crossings in Texas that have been closed due to the migrant crisis, warning that the continued closures will severely impact cross-border trade, especially during the holiday season. The company states that these crossings represent 45% of their cross-border business and include goods critical to the U.S. economy. Union Pacific is in close communication with government agencies and customers, emphasizing the need for immediate reopening. The closures have forced the company to embargo customers' goods on over 60 trains, affecting agricultural products, automotive parts, and consumer goods. Talks are ongoing in Washington about policy changes to secure funding for border security.

via Fox News|
#border-crossings#border-security#christmas
technology2 years ago

Nvidia's Latest Move: AI Chip Development for China Amid US Restrictions

Nvidia is developing artificial intelligence (AI) chips specifically for China as part of its efforts to navigate around US restrictions. The move comes as the US government has imposed sanctions on Chinese tech companies, including Huawei, limiting their access to American technology. By developing AI chips tailored for the Chinese market, Nvidia aims to continue its business in China while avoiding potential disruptions caused by US restrictions on technology exports.

via Financial Times|
#ai-chips#china#cross-border-trade
international-trade2 years ago

China-EU Export Controls Agreement Eases Trade Tensions

China and the European Union (EU) have reached an agreement on an export controls "mechanism" to ease trade tensions. The mechanism aims to address concerns related to the misuse of dual-use technologies and enhance cooperation on export control measures. This agreement comes as part of ongoing efforts to strengthen trade relations between China and the EU and promote cross-border trade.

via Financial Times|
#china#cross-border-trade#eu
international-trade2 years ago

China and EU Establish Export Controls Mechanism to Address Trade Tensions

China and the European Union have agreed to establish a "mechanism" for export controls in an effort to ease trade tensions. The move comes as both sides seek to address concerns over unfair trade practices and market access. The mechanism aims to enhance transparency and cooperation in export control policies, with the goal of promoting a level playing field for businesses and ensuring the security of critical technologies.

via Financial Times|
#china#cross-border-trade#eu
economy2 years ago

Xi Jinping Announces Market Access Expansion for China's Service Industry

Chinese President Xi Jinping announced that China will widen market access in the service industry and promote cross-border services trade. The country aims to expand the domestic market, increase imports of high-quality services, and reform the basic data system. This move comes as China's trade has slumped in recent months, prompting the introduction of further policy support to boost economic recovery.

via Reuters|
#china#cross-border-trade#economic-recovery
politics2 years ago

EU Implements Measures to Combat Russian Sanctions Evasion

The European Union has agreed on measures to target individuals and entities that evade sanctions against Russia. The measures include travel bans and asset freezes, and aim to prevent cross-border trade with Russia by targeting those who facilitate such trade. The move comes amid ongoing tensions between the EU and Russia over issues including the conflict in Ukraine and the poisoning of opposition leader Alexei Navalny.

via Financial Times|
#cross-border-trade#eu#evasion
economics2 years ago

IMF warns of various financial stability risks

The International Monetary Fund (IMF) has warned that "friendshoring," or the practice of outsourcing to countries with close ties, could pose a risk to global growth and financial stability. The IMF stated that this trend could lead to a concentration of economic activity in certain regions, making them more vulnerable to shocks. The organization also noted that cross-border trade has been declining since the financial crisis, and urged countries to resist protectionism and promote open trade policies.

via Financial Times|
#cross-border-trade#economics#financial-stability