UK retailers signaled they may dump massive volumes of goods with EU origin after the Brexit deal came into effect. The retailers reckon that under new customs regulation the price of destroying the goods stuck in Europe would be cheaper than paying all outstanding fees and costs, BBC reported.
China has reported one of the biggest trade surpluses in 2020 despite political pressure linked to the confrontation with US over customs tariffs war and global slowdown driven by Coved-19 pandemic. The trade surplus reached to $535bn, AP reported.
The shares of the based in France European retail giant Carrefour surged by some 13 percent on Wednesday, as the company was approached for merger by Canada’s convenience-store operator Alimentation Couche-Tard, Reuters reported. The bid was unexpected and lead to a sharp rise in demand for the stocks.
Venture capital firm Index Ventures has rated three Baltic nations as the most “startup-friendly” in Europe after new policies on stock options made it easier for startups to attract and retain employees.
The trade deficit of US last November surged to $68.1 billion which is the highest for a month period in 14 years, as a dramatic increase in imports overshadowed a modest growth in exports, AP reported.
New car sales in UK fell by nearly 30% last year in their biggest annual drop since 1943. According to the industry, lockdowns aimed to curb the spread of the coronavirus, hit the sector, Reuters reported.
The Office of the US Trade Representative (USTR) has placed new tariffs on aircraft manufacturing parts as well as some alcohol products from the European Union in an ongoing transatlantic spat about aerospace subsidies.
The EU opened two investigations into Chinese exporters to assess whether steel screws are being sold in the bloc at excessively low prices and whether optical fibre cables are benefiting from unfair subsidies, news wires reported. The EU increasingly sees China as a systemic rival and has 23 investigations underway into various products exported from the country, according to Reuters.
US decided to add dozens of Chinese companies ncluding the country’s top chipmaker SMIC, to a blacklist related to trade relations, Commerce Secretary Wilbur Ross said in a broadcast interview quoted by Reuters.