Brazils tax reform could raise its VAT rate to 27.97%, surpassing Hungary to become the highest globally. The government has introduced zero VAT on essential goods to alleviate pressure on low-income groups, but the high rate may increase costs for other goods and impact the economy.
On July 19, Ocean Network Express (ONE) announced the launch of a new THX service connecting Thailand, Vietnam, China, and Japan. The service will depart from Bangkok, calling at Laem Chabang, Ho Chi Minh City, Nansha, Hakata, Osaka, and Kobe, with its maiden voyage on August 10. ONE stated that this new service will provide customers with faster shipping services. Since the beginning of this year, multiple liner companies have launched or upgraded intra-Asia services to meet market demand.
UK Department for Environment, Food & Rural Affairs published REACH (Amendment) Regulations 2023, SI772 on July 19, 2023. This amendment revises Article 41 of Regulation (EC) No 1907/2006 (REACH Regulation).
The U.S. Environmental Protection Agency (EPA) has released a new review framework specifically targeting per- and polyfluoroalkyl substances (PFAS). This framework primarily describes EPAs approach when reviewing new PFAS and their new uses. The goal is to conduct comprehensive assessments through pre-manufacture notices (PMNs) and significant new use notices (SNUNs) before PFAS are allowed into commerce, to protect human health and the environment from their hazards.
According to Shanghai Customs data, the total import and export value of Shanghai in the first half of 2023 reached 2.09 trillion yuan, an increase of 11.4% year-on-year. Among these, the growth of private enterprises and bonded logistics trade was particularly significant, becoming important drivers of Shanghais foreign trade growth. Meanwhile, the export of electromechanical products and the import of consumer goods also showed strong growth momentum.
According to Tokyo Shoko Research data, bankruptcies among Japanese SMEs in the first half of 2023 increased by 30% year-on-year, marking the first time since 2020 that semi-annual bankruptcies exceeded 4,000 cases. Despite government financial support post-COVID, businesses continue facing labor shortages and high price pressures. With persistent inflation, chronic labor shortages, and other domestic and international factors, Japans economic recovery remains sluggish.
In May 2022, Chengdu Customs became a new pilot zone for the Port Departure Confirmation mode in water-to-water transshipment, optimizing customs supervision and operational efficiency of waterway logistics in the Yangtze River Delta region. This model was implemented at two water ports in Sichuan: Luzhou Port and Yibin Port. The advantage of this new model lies in changing the customs transfer procedures and port operations from serial to parallel, allowing enterprises to declare customs transfers without completing cargo tallying or determining domestic transport vehicles.
Chinas Ministry of Commerce announced anti-subsidy investigation on dairy products originating from the EU, initiated based on domestic industry application to address unfair competition pressure caused by subsidized EU dairy products in Chinese market, with investigation period covering 2020 to 2024.
A transport ship named Grande Costa d’Avorio caught fire at the Newark terminal. The ship was carrying more than 1,200 cars and 157 containers, with a destination of West Africa. The fire broke out on the ships No. 10 deck during the loading operation. The fire killed two New Jersey firefighters and injured five others. This fire is having a broader impact on the ports of New York and New Jersey, especially on vehicle transportation. However, the impact on the container terminal is negligible.
? 2025. All Rights Reserved. Shanghai ICP No. 2023007705-2 
PSB Record: Shanghai No.31011502009912
