TFG Weekly Trade Briefing, 13th July 2020
Your Monday morning coffee briefing from TFG. Globally, the spread of the pandemic continues to accelerate with a record number of new daily cases recorded. India surpassed Russia to register the third-highest COVID-19 caseload after the US and Brazil. Governments are tasked with securing growth. Instead of raising taxes and reducing public spending as many did after the last recession, governments are now planning the next stage of fiscal easing.
China and UK – what could a Chinese trade and economic backlash look like?
The UK’s response to new security laws in Hong Kong and the decision to offer a route to citizenship for almost three million Hongkongers has been met frostily by China. Last week, China said it will take countermeasures against the UK should it grant residency to Hongkongers, promising that the UK would “bear all consequences”. Read more →
WTO issues latest edition of World Tariff Profiles
The World Trade Organization issued the latest edition of its annual publication World Tariff Profiles, which provides comprehensive information on the tariffs and non-tariff measures imposed by over 170 countries and customs territories. The publication is jointly prepared by the WTO, the UNCTAD and the International Trade Centre. Read more →
What goes around comes around – An investigation into the implications of record social stimulus
Governments have had to step in to support their economies due to the substantial downturn in economic activity – breaking stimulus records in the process. Such large aid from governments has been praised. However, the long-term reality of such significant government stimulus is that this borrowed money must be repaid. Read more →
UK nominates Liam Fox as next Director General of the WTO
The UK nominates former International Trade Secretary Dr Liam Fox MP as the next Director-General of the World Trade Organization. Prime Minister Boris Johnson said, “He has first-hand experience of the political and technical challenges of negotiating trade agreements and the reforms that are needed to ensure the global trading system truly delivers for all WTO members.” Read more →
How COVID-19 has impacted the shipping industry?
The impact caused by the coronavirus pandemic may have started to die down a little but there is still a long way to go especially related to whether many cruise liners will be able to financially recover from the outbreak. We take a detailed look at how the virus has impacted the shipping industry in particular. Read more →
UK inward investment projects increase in 2019
Figures from the Department for International Trade (DIT) show the UK attracted 1,852 new inward investment projects in 2019/2020 financial year, representing a 4% increase on the previous year. While the number of new jobs as a direct result of foreign investment has declined, the number of UK jobs safeguarded by FDI increased by 29%. Read more →
TFG and LIBF Announces Winners for ITPP 2020
TFG and LIBF announced the 2020 winners for the International Trade Professionals Programme (ITPP). The ITPP gave international trade professionals the chance to write for TFG’s publications. The top 10 writers of the year’s cohort will be enrolled onto a trade finance course, certified by LIBF. Read more →