1.The United States and Britain agreed to suspend retaliatory tariffs
Britain and the United States recently agreed to suspend retaliatory tariffs on Scotch whisky and other goods for four months over a long-running dispute over aircraft subsidies, and said they would use the time to resolve the dispute."The United Kingdom and the United States will suspend tariffs for four months to ease the burden on industry and take a bold step toward resolving the longest-running dispute at the World Trade Organization," the two sides said in a joint statement.
2.Chinese investment in Australia will drop by 61% in 2020
Chinese investment into Australia in 2020 hit its worst record in six years, falling to A $1 billion (5 billion yuan) from A $2.6 billion last year, a 61 percent drop from the previous year.The sudden drop in Chinese investment in Australia means Chinese investors have come to see the country as a difficult place to put their money.The United Nations reports that total foreign investment in the country plunged 46 percent in 2020.
3.Italy's GDP will shrink by 8.9% in 2020
In 2020, Italy's GDP will be about 1.65 trillion euros, down 8.9% from the previous year, and down 7.8% at market prices.According to the report of the Italian Statistical Office, 7.8% of the COVID-19 epidemic and control measures was due to the decrease in domestic demand, while international demand and inventory movements dragged down the economy by 0.8 and 0.3 percentage points respectively.
4.India has announced a big push to develop its domestic ports
NEW DELHI: India has announced plans to spend $82 billion on various port projects through 2035 to boost the country's maritime sector.The focus will be on promoting clean and renewable energy in the maritime sector, developing waterways and promoting tourism in the surrounding area.According to Modi, India has identified more than 574 projects costing $82 billion between 2015 and 2035.
5.A zero-tariff policy was introduced for self-used production equipment at the Hainan Free Trade Port
Recently, the Ministry of Finance issued a "zero tariff" policy for self-use production equipment at Hainan Free Trade Port.Island, before start the operation of free trade port in hainan registered with independent legal personality of the enterprise imported production equipment, in addition to the laws, regulations and rules clear duty, the provisions of the state banned the import of the goods, the free trade port in hainan "zero tariff" self-used equipment negative list of the equipment listed in, shall be exempted from tariff and import link value-added tax and consumption tax.
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