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The Latest Breaking News from Commerce

Palm oil subsidy scheme to seek cabinet approval

The Commerce Ministry plans to ask the cabinet shortly to approve the state-sponsored price guarantee scheme for palm oil farmers for the 2022/23 harvest season, while pledging to support crude palm oil exporters.

Bangkok Post

‘No possibility of reconciliation’ as US slams China chips

The Biden administration’s new restrictions on technology exports to China could undercut the country’s ability to develop wide swaths of its economy, from semiconductors and supercomputers to surveillance systems and advanced weapons.

Tribune News Service

China says Biden’s new chip technology curbs will harm recovery

China criticized expanded U.S. restrictions on its access to semiconductor technology, saying they’ll harm supply chains and the world economy.

Tribune News Service

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Biden tightens China chip rules on chaotic day for industry

The Biden administration announced new restrictions on China’s access to U.S. semiconductor technology, escalating tensions between the two countries and adding fresh complications to an industry reeling from a slump in demand.

Tribune News Service

Commerce tightens export controls on high end chips to China

The Commerce Department is tightening export controls to limit China’s ability to get advanced computing chips, develop and maintain supercomputers, and make advanced semiconductors

The Independent UK

White House adds new restrictions on chip exports to China

The Biden administration announced new restrictions on China’s access to U.S. semiconductor technology, adding measures aimed at stopping Beijing’s push to develop its own chip industry and advance the country’s military capabilities.

Tribune News Service

Abhishek Singhvi to head parliamentary panel on commerce

Unfortunate that the government has retained control over all key standing committees, says Congress floor leader in Lok Sabha; Congress yet to suggest nominee for panel on Chemicals & Fertilisers

The Hindu

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Jurin remains upbeat on export prospects

Commerce Minister Jurin Laksanawisit remains optimistic that exports will expand well over the remaining months of this year and exceed the growth target set at 4-5% over 2021's level.

Bangkok Post

Aug exports close to forecast, Chinese market slump

Exports rose slightly less than expected in August as global demand for food products increased, but oil-related shipments fell and exports to China slumped, the Commerce Ministry said on Monday.

Bangkok Post

Shopee inks pact to help empower SMEs

The Commerce Ministry's International Trade Promotion Department on Monday signed a Memorandum of Understanding (MoU) with Shopee, an e-commerce platform, to empower small and medium-sized enterprises (SMEs) to showcase their quality products and sell their products online.

Bangkok Post

Ministry to step up export promotion to meet target

The Commerce Ministry has vowed to continue ramping up export promotion activities in the remaining months of 2022, with the aim of raising export revenue to US$285 billion by year-end, hitting the ministry's target and an uptick from $271 billion in 2021.

Bangkok Post

Mexico lauds U.S. commerce secretary for stance on energy spat

Mexican President Andres Manuel Lopez Obrador on Tuesday hailed U.S. Commerce Secretary Gina Raimondo for her attitude in talks this week, saying she gave no indication of wanting to punish Mexico over an energy dispute between the two countries.

Reuters

US, Asian Alliance Agree on 4 Economic Sectors to Counter China

The United States and a group of Asian allies on Friday agreed on a set of negotiating targets, as Washington looks to offer an alternative to the economic might of China in the region. At the first ministerial for the Indo-Pacific Economic Prosperity Framework (IPEF), officials sketched the basis for…

Asharq Al-Awsat

US, Indo-Pacific countries agree on roadmap to strengthen trade ties

WASHINGTON: The United States and 13 Indo-Pacific countries on Friday agreed on parameters for negotiating closer trade, environment and economic ties that US Commerce Secretary Gina Raimondo said would boost investment and jobs in the partner countries.

Bangkok Post

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Reuters

U.S., Indo-Pacific countries agree on roadmap to strengthen trade ties

The United States and 13 Indo-Pacific countries on Friday agreed on parameters for negotiating closer trade, environment and economic ties that U.S. Commerce Secretary Gina Raimondo said would boost investment and jobs in the partner countries.

Bangkok Post

Amazon, Apple and Google pledge training for women in Indo-Pacific

Fourteen US companies including Amazon.com Inc and Visa Inc each pledged to provide at least 500,000 digital training and education opportunities for women and girls in the Indo-Pacific region as part of a Biden administration initiative.

Tribune News Service

Commerce Department unveils semiconductor chip implementation plan

The U.S. Department of Commerce detailed Tuesday how it plans to roll out around $50 billion in funding for domestic semiconductor chip manufacturing.

Tribune News Service

Raimondo announces strategy to boost US chip manufacturing ahead of Biden’s Ohio trip

WASHINGTON — Commerce Secretary Gina M. Raimondo on Tuesday unveiled a strategy for the Commerce Department’s disbursal of $50 billion that Congress approved to boost domestic manufacturing of semiconductor chips, saying she expected the first money to flow in the spring of 2023.

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The Hindu

Merchandise exports remain flat at $33 billion in August

Exports shrink 1.15% to $33 billion, imports rise above $60 billion widening trade deficit

The Times of India

Piyush Goyal's US visit next week: To meet US trade representative, secretary of commerce

NEW DELHI: Commerce and industry minister Piyush Goyal will hold bilateral meetings with his American counterparts next week in the US to discuss ways to boost trade and investments ties, an official statement said on Friday.

The Independent UK

Biden administration awards $1 billion for economic projects

Commerce Secretary Gina Raimondo is announcing $1 billion worth of federal grants for manufacturing, clean energy, farming, biotech and other sectors

Asharq Al-Awsat

Saudi Arabia, Thailand Sign 5 Agreements, Establish Business Council

Saudi Arabia and Thailand signed in Riyadh on Monday five commercial agreements and established the Saudi-Thai Business Forum. Thai Deputy Prime Minister and Commerce Minister Jurin Laksanawisit confirmed that the two countries would advance towards the most comprehensive cooperative scope, covering all vital sectors. Laksanawisit addressed the Saudi-Thai Business Council…

Bangkok Post

Bid to boost Thai goods in Saudi stores

The Commerce Ministry has teamed up with luxury retailer Manuel Market and LuLu Hypermarket to boost Thai exports to Saudi Arabia.

Bangkok Post

Riyadh to help seal Gulf free trade deals

Saudi Arabia has agreed to help Thailand push for a free trade agreement (FTA) with members of the Gulf Cooperation Council, according to Commerce Minister Jurin Laksanawisit on Monday.

Bangkok Post

July exports rise 4.3% y/y, below forecast

Thailand's exports in July rose at their slowest pace in more than a year as global economic growth slowed and supply chain disruptions increasingly affected shipments of industrial goods, Commerce Minister Jurin Laksanawisit said on Friday, missing analysts' expectations.

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