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The decline in global demand for electronics and the difficulties in purchasing components have led to the worrisome situation in Vietnam’s technology manufacturing industry, among which Samsung, Apple and other large electronics companies have significantly reduced production and working hours in Vietnam’s factories, resulting in a large number of employees being unemployed or reduced salaries, which has seriously affected Vietnam’s economic development.

Since July 1, China has begun the eighth phase of tax cuts on the information technology agreement expansion products, marking China's full commitment to complete the agreement.This initiative has triggered a major change in the information technology industry, bringing significant overlapping benefits to global economic growth and innovation development.

In today’s globalization, trade relations between countries are becoming increasingly close. However, with the adjustment of national economic policies, the introduction of new foreign trade regulations is also continuously affecting the global trade pattern. This article will detail the relevant content of the new global foreign trade regulations in July 2023, and how these new regulations affect China’s trade relations with the world.

On June 28, 2023, the International Terminal and Warehouse Trade Union Canada (ILWU Canada) issued a 72 hour strike notice to the British Columbia Marine Employers Association (BCMEA) announcing the start of the strike at 8 a.m. on July 1, 2023.

The Global Trade Update report, recently released by the United Nations Conference on Trade and Development (UNCTAD), showed positive growth in global trade in goods and services in the first quarter of 2023. This growth was pronounced after the decline in the second half of 2022.

Unusually high temperatures and dry weather worldwide have recently triggered a massive rise in international agricultural futures prices. According to the latest forecast by the World Meteorological Organization (WMO), the likelihood of an El Ni?o phenomenon between June and August 2023 is almost 70%, which could mean that this summer will be warmer. In addition, rising food prices are also a challenge for countries to inflation targets.