Major global economies rolled out frequent tariff and trade policy adjustments last week.

There was a major breakthrough in the US-EU trade deal. The European Parliament formally approved the US-EU tariff agreement on June 16. Under the deal, the US will maintain a 15% import tariff on most EU goods, while the EU will eliminate tariffs on certain US agricultural and seafood products to stabilize bilateral trade ties.

Meanwhile, Canada imposed steep trade remedy duties on Chinese truck body products. Qingdao CIMC Refrigerated Transportation Equipment Co., Ltd. faces an anti-dumping duty of 119.4%, and other Chinese manufacturers and exporters will be subject to anti-dumping duties as high as 257.1%, marking a further escalation of Canada’s trade restrictions on relevant Chinese goods.

It is critical for foreign trade and cross-border supply chain enterprises to track policy updates timely and adjust logistics and market layouts in advance.