Frontline of Global Expansion | The U.S. has unveiled new tariff measures; the U.S. government announced an allocation of 5 billion U.S. dollars to t

Overseas Development Milestones

US Unveils New Tariff Measures Effective on July 24

The Office of the United States Trade Representative issued an announcement on the 23rd, stating that in accordance with Section 301 of the Trade Act of 1974, tariffs ranging from 10% to 12.5% will be imposed on dozens of countries and regions under the so-called "forced labor" pretext, to replace the expiring global import tariffs. The new tariffs will take effect at 00:01 Eastern Daylight Time on July 24. After the US Supreme Court rejected the Trump administration's largest-scale tariff measure in February this year, the administration adopted a temporary 10% global tariff measure, which will expire at 00:01 Eastern Daylight Time on July 24. (CCTV News)

Ministry of Commerce and Ministry of Commerce of Cambodia Sign Memorandum of Understanding on Strengthening Cooperation and Mutual Understanding in the Context of Third-Country Trade Measures

On July 20, in the presence of Premier of the State Council Li Qiang and Thai Prime Minister Anutin Charnvirakul, Wang Wentao, Minister of Commerce of China, and Cham Nimul, Minister of Commerce of Cambodia, signed the Memorandum of Understanding on Strengthening Cooperation and Mutual Understanding in the Context of Third-Country Trade Measures. The two sides agreed to maintain open and constructive dialogues on issues of common concern related to third-country trade measures. The two sides will strengthen communication, enhance mutual understanding and improve transparency in the interpretation and implementation of relevant measures that may affect bilateral economic and trade relations. (Ministry of Commerce of China)

Provincial Key Work Promotion Meeting for the First Half of the Year of the Provincial Commerce System is Held

On July 22, the Zhejiang Provincial Department of Commerce held the provincial key work promotion meeting for the first half of the year of the commerce system. The meeting conveyed, studied and implemented the spirit of important meetings including the 9th Plenary Session of the 15th Zhejiang Provincial Party Committee and the plenary meeting of the Zhejiang Provincial Government, summarized the work in the first half of the year, and deployed key tasks for the second half of the year. Zhou Xiangjun, Secretary of the Party Leadership Group and Director of the Provincial Department of Commerce, attended the meeting and delivered a speech, while Vice Director Chen Zhicheng presided over the meeting. Vice Director Ding Shufeng and Chief Economist Zhu Ying respectively reported on the consumption and foreign trade performance in the first half of the year and the work arrangements for the second half of the year. Heads of municipal commerce bureaus and Yiwu Municipal Bureau of Commerce attended the meeting and exchanged speeches focusing on stabilizing foreign trade and promoting consumption. (Zhejiang Commerce)

New Market Insights

Indonesian Minister of Investment: Full Confidence in the Future of China-Indonesia Investment Cooperation

Rosan Roeslani, Minister of Investment and Downstream Industry of the Republic of Indonesia, said in an interview with Xinhua News Agency on the 18th that the Indonesian government will continue to implement policies to promote trade and investment and improve the business environment, and is fully confident in the future of investment cooperation between China and Indonesia. (Xinhua News Agency)

US Government Announces $5 Billion in Funding for Artificial Intelligence Scientific Research

Michael Kratsios, Director of the White House Office of Science and Technology Policy, announced on the 22nd that multiple US federal agencies have pledged more than $5 billion to the Genesis Mission initiative coordinated by the Department of Energy, aiming to use artificial intelligence (AI) technology to accelerate basic scientific research. Analysts pointed out that this move marks that the US administration is accelerating the reshaping of the federal scientific research fund allocation model, and further tilting funding priorities to AI-enabled projects and independent researchers. (Caiwen)

India Plans to Build At Least Five Small Modular Reactors by 2033

India plans to build at least five small modular reactors by 2033, aiming to expand the application of nuclear energy and reduce dependence on coal. Indian Minister of State for Atomic Energy Jitendra Singh revealed to parliamentarians on Wednesday that three different design schemes for relevant small reactors are under development. The Bhabha Atomic Research Centre headquartered in Mumbai is developing power generation reactors with installed capacities of 220 MW and 55 MW. (Sina Finance)

Corporate Updates

Cainiao Overseas Supply Chain Accesses Amazon's Large-Size Logistics Service

Recently, the overseas warehouses of Cainiao Overseas Supply Chain located in the UK and Germany have both been open for Amazon MSF (Multi-Seller Flex) warehousing, providing new warehousing options for heavy and large-item sellers on Amazon's European site. MSF is Amazon's exclusive delivery program for heavy and large-sized goods in Europe. This program allows sellers to store inventory in third-party warehouses, with Amazon responsible for the last-mile delivery, enabling consumers to enjoy similar timeliness and experience as Amazon's self-operated logistics. (Global Network)

Microsoft and Mistral Expand AI Cooperation and Sign a Multi-Billion-Dollar European AI Infrastructure Agreement

Microsoft and French artificial intelligence startup Mistral AI announced on July 21 that they will expand their strategic cooperation and reach a multi-billion-dollar agreement on the construction of European AI infrastructure to enhance AI computing capacity in the European region. (Jiemian News)

Ecovacs: Overseas Shipment of Household Robots Increased by More Than 80% Year-on-Year in the First Half of the Year

According to data from Ecovacs, the overseas shipment of household robots increased by more than 80% year-on-year in the first half of this year, with Germany, France, Australia, the United States and Italy as the main overseas markets. New categories such as window-cleaning robots and lawn mowing robots have achieved a year-on-year growth of over 110% for three consecutive years, driving the company's overall growth by more than 15%. (36Kr)

Industry Trends

Trump Plans to Impose Tariffs on Generic Drugs Starting from 2028, Setting a Two-Year Grace Period to Force Pharmaceutical Production Capacity to Relocate Back to the US

US President Donald Trump announced a new policy: all imported generic drugs to the US will enjoy a two-year zero-tariff grace period starting from August 1, with a 100% tariff officially imposed in August 2028, and the tariff rate will directly double to 200% in 2029. Trump posted on social media on Tuesday that this step-by-step tariff scheme is intended to force generic drug manufacturers to build factories and put into production in the United States; for enterprises that do not set up production plants and supporting facilities in the United States within the grace period, the gradually rising tariffs are essentially a means of punishment. (Sina Finance)

The Global Gas Turbine Industry is in a High Prosperity Stage, and the Signs of Accelerated Overseas Expansion of Industrial Chain Companies are Obvious

The transformation of the global power structure and the expansion of computing power infrastructure jointly drive up the demand for gas turbines. Leading companies in the industry are overwhelmed with orders and face insufficient production capacity supply, and the long-term supply-demand gap in the industry is clear. Against this background, the domestic gas turbine industrial chain ushers in an incremental window in the overseas market, local enterprises have landed large overseas orders, and the performance and valuation of listed companies in the sector are expected to recover simultaneously. (Securities Times)

China's Automobile Exports Exceed 600 Billion Yuan in the First Half of This Year, Up 48.3% Year-on-Year

In the first half of this year, China's automobile exports reached 635.82 billion yuan, a year-on-year increase of 48.3%, and the products are sold to more than 210 countries and regions around the world. Among them, the export of new energy automobiles reached 360.68 billion yuan, a year-on-year increase of 68.7%. (CCTV News)

This article is from the WeChat Official Account "Zhejiang Enterprises Overseas Development Comprehensive Service Port", author: Zhejiang Enterprises Overseas Development.