The world’s second-largest economy extended its impressive trade performance in April, with exports unexpectedly accelerating and import growth hitting a decade high.
Bank says coronavirus pandemic inflicted a "swift and massive shock" causing broadest collapse of global economy since 1870.
Turkey has left worst behind as recovery begins with exports worth $10 billion in May, says the country's Trade Minister Ruhsar Pekcan.
Trade is the key to China’s and Indonesia’s economic recovery. But this will be hampered by their new World Trade Organization designation.
Remittances expected to plunge by about 20 percent globally this year, the biggest decline in recent history, as closures cause a global recession and job losses that prevent workers from sending money to their families back home, World Bank says.
Last week G20 leaders had pledged to inject over $5 trillion into the global economy to limit job and income losses from the coronavirus outbreak
Wall Street stocks had their worst day since 1987 on Monday, joining global market carnage as coronavirus outbreak shut down a widening part of US and global economy.
The Organisation for Economic Cooperation and Development(OECD) is developing rules to make digital companies pay tax where they do business, rather than where they register subsidiaries.
The reduction will apply to levies of five percent and 10 percent that were imposed on more than 1,700 items in September, according to the State Council Tariff Commission.
Vice Premier Liu He, Beijing’s chief envoy in talks with Washington over their tariff war, will sign phase one of the trade deal which includes China buying more American farm goods.
The new duties take effect from Sunday, a government notification said, in the latest trade row since US President Donald Trump took office in 2017 vowing to act against countries with which Washington has a large trade deficit.
Duties levied on aforementioned US products will be reduced from $521.2 million to $260.6 million, trade minister Ruhsar Pekcan says.
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