SEOUL : South Korea’s cosmetics exports have climbed to second place globally, surpassing those of the United States for the first time this year and now trailing industry powerhouse France, data showed Monday. According to the Korea International Trade Association, Korea exported RM15.14 billion ($3.61 billion) worth of cosmetics from January to April, narrowly edging out the United States’ RM14.97 billion ($3.57 billion). This marks Korea’s first time overtaking the US in beauty exports, after its exports in the January–March period, which totaled RM10.82 billion ($2.58 billion), had lagged behind America’s RM11.40 billion ($2.72 billion). Korea’s cosmetics exports have been rising at a blistering pace. Last year, Korea’s cosmetics exports totaled RM43.19 billion ($10.3 billion), outpacing Germany’s RM38.07 billion ($9.08 billion) to become the world’s third-largest exporter, behind France and the US. While France and the US recorded growth of 6.3 percent and 1.1 percent, respectively, Korea’s exports surged by 20.3 percent. This upward momentum has carried into this year, with monthly exports climbing from RM3.15 billion ($750.8 million) in January to RM3.71billion ($885.9 million) in February, RM3.941 billion ($939.9 million) in March and RM4.32 billion ($1.03 billion) in April. The ongoing rise of K-beauty is set to push further into emerging markets in Europe and the Middle East, including Poland, Ireland, Belgium and the United Arab Emirates. According to data from the KITA, exports to Poland from January to May surged 121 percent to RM468.78 million ($111.8 million), up from RM211.33 million ($50.4 million) a year earlier, while exports to the UAE rose 74 percent to RM416.36 million ($99.3 million) from RM239 million) $57 million over the same period.
5月前
China will impose tariffs ranging from 10 per cent to 15 per cent on imports from the United States, the Customs Tariff Commission of the State Council announced on Tuesday. This decision follows the US government’s announcement on Monday of an additional 10 per cent tariff on all Chinese exports to the US, citing fentanyl-related concerns. The US policy took effect on Tuesday. According to a public notice from the Customs Tariff Commission of the State Council, China will levy a 15 per cent tariff on imports of chicken, wheat, corn, and cotton from the US, starting March 10. A 10 per cent tariff will be applied to US sorghum, soybeans, pork, beef, seafood, fruits, vegetables and dairy products on the same day. US goods that departed from their country of origin before March 10, 2025, and are imported between March 10 and April 12, 2025, will not be subject to the additional tariffs specified in this announcement, the commission clarified. China is one of the countries with the strictest and most rigorously enforced anti-drug policies in the world. China and the United States have engaged in extensive and in-depth anti-drug cooperation, achieving remarkable results, a spokesperson for the Ministry of Commerce said Tuesday. However, the United States has repeatedly shifted the blame and imposed additional tariffs on Chinese exports to the country, citing the issue of fentanyl as a pretext. “What the US side has done is a typical act of unilateralism and bullying in disregard of facts, international trade rules and the voice of all parties,” the spokesperson said. Also on Tuesday, China decided to add 10 US firms, including TCOM, Limited Partnership, to the country’s unreliable entity list and take corresponding measures against them. From Tuesday on, China will prohibit the afore-mentioned companies from engaging in import and export activities related to China, and these companies will also be banned from making new investments within the country, according to a statement released by the Ministry of Commerce. The decision was made to maintain national sovereignty, security and development interests and in accordance with relevant laws and regulations, the statement noted. Action under WTO mechanism China has initiated legal action against the United States under the World Trade Organisation (WTO) dispute settlement mechanism regarding the latter’s latest tariff increase on Chinese products, the Ministry of Commerce said. Noting that the unilateral imposition of tariffs by the United States violates WTO rules and undermines the foundation of China-US economic and trade cooperation, the ministry said China expresses strong dissatisfaction with and firm opposition to the US move. China will resolutely safeguard its legitimate rights and interests in accordance with WTO rules, and defend the multilateral trading system and the international economic and trade order, the ministry added. The US company Illumina, Inc has been banned from exporting gene sequencers to China, the Ministry of Commerce announced. The measure, effective immediately, follows China’s move to add the company to its unreliable entity list on Feb 4, according to the ministry. […]
9月前
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