Chinese corner the castings market

Government imposes 100% tariff on EVs and 25% tariff on some steel products from China.

Kazakhstan is developing a new trade route from China to Russia via the Irtysh River, with a port and railway planned, aiming for completion by 2026.

Under China’s new subsidy scheme, shipowners can receive financial support for scrapping vessels aged between 15-30 years depending on the vessel type, as well as investing in alternative vessel propulsion.

The New Silk Road, popularly known as part of China’s Belt and Road Initiative, is helping world trade avoid world trouble spots, including overland alternatives to hazardous maritime routes

The Port of Los Angeles has decreased its business reliance on China from 57% in 2022 to the low-to-mid 40% by mid-2024, aiming to adapt to evolving trade policies and tariffs.

China and Kazakhstan agreed to invest US$3.7 billion in joint projects, including the construction of a new container hub at Aktau Port on the Caspian Sea coast.