China may be able to circumvent Donald Trump's tariffs by shifting production of goods such as bicycles to facilities in countries like Cambodia, India, Malaysia, Taiwan and Vietnam. This allows them to export the products directly to the US without paying a 25% tariff. The practice is seen as inflationary and does not benefit American companies, but rather reduces bilateral trade between the two nations. Chinese companies are also using tactics such as stripping out costs like intellectual property payments from their imports to lower the recorded value of trade.
https://www.rawstory.com/trump-china-tariffs/The Commerce Ministry in China has taken action against US companies, citing their actions as a threat to its sovereignty and territorial integrity. The move is part of an ongoing escalation in economic tensions between the two nations, which have led to the Biden administration imposing restrictions on 140 Chinese companies supplying dual-use items.
https://www.upi.com/Top_News/World-News/2025/01/02/punitive-measures-American-companies-Taiwan/2001735833009/The International Monetary Fund predicts that China's economy will grow by 4.8 percent this year and 4.5 percent next year. Recent stimulus measures appear to be taking effect, as indicated by a third consecutive month of expansion in manufacturing activity, with the Purchasing Managers' Index (PMI) reaching 50.1 in December. The non-manufacturing PMI also rose to 52.2 in December, driven by growth in the services and construction sectors. According to Gabriel Ng of Capital Economics, increased policy support has provided a near-term boost to growth, with export orders rising to a four-month high in December, likely due to US importers stockpiling goods ahead of potential tariffs under President-elect Donald Trump's administration.
The Pakistani government has exempted customs duty on imports from seven countries under the D-8 Preferential Trade Agreement. The exemption applies to goods imported from Bangladesh, Egypt, Indonesia, Iran, Malaysia, Nigeria, and Turkiye, with effect from January 10, 2025. The rates of customs duty will be reduced in accordance with the agreement, with the lower rate applying if it is lower than the existing rates specified in the First Schedule to the Customs Act or notified by the Federal Board of Revenue (FBR) on July 10, 2022.
https://www.brecorder.com/news/40340521/various-items-from-7-countries-fbr-announces-tax-concessions-on-importsSouth Korea has achieved record exports and a trade surplus despite global economic challenges, according to Industry Minister Ahn Duk-geun. The country's exporters have persevered through high interest rates, inflation, the Russia-Ukraine war, and the Middle East crisis. With a new US administration set to take office in a month, the government plans to collaborate with the private sector to mitigate the negative effects of these global uncertainties.
https://koreajoongangdaily.joins.com/news/2025-01-01/business/economy/Koreas-exports-rise-82-pct-in-2024-to-new-annual-record/2213185