01. North America

[The U.S. economy shrank by 1.5% in the first quarter] The U.S. Commerce Department released a report on May 26, local time, saying that from January to March, the U.S. economy shrank by 1.5% at an annual rate. Part of the reason for the shrinking economy is a larger trade deficit, with the U.S. spending more on imports than it earns on exports, according to U.S. economists. Another reason for the weak economy is that U.S. stores and warehouses were slow to replenish inventories last quarter, and supplies were tight.

[Amazon's first brick-and-mortar clothing store Amazon Style opens] Amazon's first brick-and-mortar clothing store, Amazon Style, officially opened in a shopping mall in Los Angeles, California, USA. According to foreign media, at present, the store is not equipped with Amazon's Just Walk Out technology, but will be equipped with permanent staff to help consumers from start to finish.

The store features a combined online and offline shopping experience for customers and minimizes fitting steps. For example, each piece of clothing in the store has a QR code, and customers can scan the QR code using Amazon's app to view the color, size, and other information of any item, and they can also use the QR code to organize a copy of what they want. The list of clothes to try on in the fitting room, customers can continue shopping while staying in the fitting room, and Amazon will continuously send products into the fitting room for trying on.

[U.S. finalized the first countervailing sunset review on biaxial geogrids] The U.S. Department of Commerce issued an announcement stating that the first countervailing rapid sunset review of Biaxial Integral Geogrids imported from China was made The final ruling ruled that if the countervailing duty in this case is cancelled, the subsidy of the products involved in China will continue or recur at a subsidy rate of 15.61% to 152.50%. This case involves products under the U.S. Harmonized Tariff No. 3926.90.9995, as well as some products under Tariff Nos. 3920.20.0050 and 3925.90.0000.

[U.S. makes final anti-dumping ruling on Freight Rail Coupler Systems and Components Thereof] The U.S. Department of Commerce announced an affirmative final anti-dumping ruling against Freight Rail Coupler Systems and Components Thereof imported from China, ruling that China The dumping rate for both producers/exporters was 147.11%. The U.S. International Trade Commission (ITC) is expected to make a final ruling on anti-dumping industrial damage in this case on July 7, 2022. This case involves products under U.S. Harmonized Tariff No. 8607.30.1000.

[Amazon Mexico's "Hot Sale" Promotion Opens] Mexico welcomes the first "HotSale" e-commerce promotion in 2022. The event will last until May 31, with more than 400 companies participating, and at least 49.7% of Mexicans participating in online shopping . Amazon has participated in the promotion every year since 2014, and the annual sales and number of buyers have increased year by year. Amazon saw a nearly 50% increase in new customers at this year's event. Not only are new buyers joining the platform this year, but also new suppliers, and there will be a wider variety of items participating in discounts this year, said Amazon’s Mexico marketing manager.

Apple Raises Employee Compensation Budget Amid Tight Labor Market Apple is reportedly raising wages for workers amid rising inflation, a tight labor market and a push by hourly labor unions. Apple reportedly told employees in an email that the company was raising its overall compensation budget. Starting wages for U.S. hourly workers will rise to $22 an hour, or higher adjusted for market conditions, up 45 percent from 2018. Starting salaries for U.S. workers are also expected to rise.

[Microsoft tells Windows and Office teams to recruit cautiously] Microsoft's executive vice president in charge of Office and some Windows businesses told the team that they need to be more cautious about recruiting activities and need to get approval from the management team before opening new positions. Microsoft is about to usher in its new fiscal year in a month, which is usually the time when the company restructures. In response to a media interview, a Microsoft representative responded that as Microsoft begins to prepare for the new fiscal year, it is ensuring that the right resources are aligned with the right opportunities. Microsoft will continue to grow its headcount over the coming year and will pay more attention to where those resources go.

[Google CEO: Recession fears intensify the technology industry cycle volatility] Google CEO said in an interview with the media that as recession fears intensify, macroeconomic factors "will affect the technology industry." He also said that the company will speed up its response to various parts of the world Tighter Internet regulatory policies. This suggests that the tech giant is at an important inflection point. Shares of Google parent Alphabet have fallen more than 20 percent this year. The tech-heavy Nasdaq Composite is down nearly 30 percent this year, reflecting the slump in the tech sector as a whole.

[Twitter spends $150 million to settle privacy and security lawsuit with U.S. government] Twitter (Twitter) spends $150 million to settle privacy and security lawsuit with the U.S. government. Twitter's settlement covers the company's misrepresentation of the "security and privacy" of user data between May 2013 and September 2019: the company told users it would use it for security reasons their information, but use that information to serve ads.

[Cloud storage technology development company Snowflake fell more than 14% in pre-market Q1 loss than expected ] Snowflake fell 14.10% in pre-market to $114.05. According to the financial report, the company’s Q1 revenue was $422.4 million, compared with $229 million in the same period last year, and the market expected $413 million; the net loss was $166 million, compared with $203 million in the same period last year, compared with $164 million in market expectations; each The stock lost $0.53, compared with $0.70 a year earlier and market expectations of $0.51.

[New York Fed survey shows U.S. consumers expect inflation shock to pass] A report released by the New York Federal Reserve Bank on the 26th local time showed that U.S. consumers still mostly believe that the current inflation shock is only temporary, and price increases will be low in the long run Steady; the survey confirms earlier findings by the New York Fed showing that while short-term inflation expectations are rising, consumers expect prices to rise only about 3% on average over the next five years. This suggests consumers expect the recent price surge to cool over time, the researchers said; "While short-term inflation expectations continue to trend upward, medium-term inflation expectations appear to have plateaued over the past few months, while longer-term inflation expectations appear to have plateaued over the past few months. Inflation expectations remain fairly stable," the researchers wrote in a blog post; the Fed's inflation target is 2 percent. And the Fed's preferred inflation measure, the Commerce Department's Personal Consumption Expenditure Price Index, rose 6.6% in March from a year earlier; the Labor Department's CPI rose 8.3% in April; Views on the trend are more divided. The proportion of respondents who expect both high inflation and low inflation (or even deflation) in three years time has risen. "Somewhat surprisingly, consumers' medium-term inflation expectations diverge," the researchers wrote.

[New U.S. natural gas export facility project approved to deal with surge in European demand] Market news: U.S. natural gas exporter Venture Global LNG said it will build a multi-billion-dollar LNG export facility in Louisiana to deal with Russia and Ukraine European demand for U.S. natural gas surged after the outbreak of the war.

[U.S. mortgage rates have fallen by the most since April 2020, and pending home sales have fallen for six months in a row] Following the decline in U.S. bond yields, the average interest rate on U.S. 30-year loans fell to 5.10% from 5.25% last week. The biggest drop in more than two years has given homebuyers some relief from a surge in borrowing costs this year. The U.S. Pending Home Sales Index tumbled 3.9 percent to 99.3 in April. The housing market has slowed significantly, Freddie Mac economists said.

02. EU region

[National Australia Bank: EUR/USD may peak at 1.08 and test parity in the second half of the year] EUR/USD/USD may peak at the 1.08 area, as the European Central Bank's three 25 basis point interest rate hike expectations this year have been met After that, the head of FX strategy at National Australia Bank in Sydney said the pair could then weaken and could test parity in Q3/Q4. The forecast is based on the assumption that the EU will soon agree to an embargo on Russian oil imports, which risks Russia retaliating by restricting gas supplies to the euro zone. Separately, changes in currency market pricing of ECB policy appear to be a source of volatility in EUR/USD so far this week.

[The increase in the number of completely unemployed in France is the first monthly increase in a year] On the 25th local time, data released by the French Ministry of Labor showed that in April 2022, the number of A-type jobseekers who completely stopped professional activities in France increased slightly. The first monthly increase since April.

The French Ministry of Labor reported that as of April, the total number of French A-type jobseekers reached 3.179 million, an increase of 9,300 or 0.3% from March. This is the first month-on-month increase in the number of completely unemployed in the past year.

[French Health Agency: Re-vaccination of all French adults is not excluded] On the 25th local time, the French National Health Service (HAS) issued a report saying that by the fall of 2022, some groups may need to be vaccinated again to strengthen the prevention of high-risk Protection of the population, reduction of morbidity and mortality, and possibly recommending a second "boost" for the entire adult population, if necessary.

03. Other regions

[India continues to levy anti-dumping duties on Chinese ceramic tableware and kitchen utensils] The Revenue Bureau of the Ministry of Finance of India issued a notification No. 16/2022-Customs (ADD), stating that it accepts the Ministry of Commerce and Industry of India on March 10, 2022. Originating in or importing from China The final result of the anti-dumping ruling made by China's Ceramic Tableware and Kitchenware, excluding knives and toilet items, decided to continue to levy the levy on the products involved in China (including the circumvention products originating in Malaysia) for a period of time. 5 years of anti-dumping duties at $1,075 per metric ton. The products involved include bone china, stoneware and porcelain ceramic products. This case involves products under Indian customs codes 6911 and 6912. The above-mentioned ruling shall take effect from the date of publication of this notification in the Official Gazette.

[Moody's lowered its forecast for India's economic growth in 2022 again] International credit rating agency Moody's lowered its forecast for India's economic growth in 2022 to 8.8% from the previous 9.1% on May 26, while reducing the country's economic growth in 2023. Expectations remained at 5.4%. Rising crude oil, food and fertilizer prices will weigh on Indian household finances and spending in the coming months. Interest rate hikes to curb inflation from rising further will slow the demand recovery. Strong credit growth and a sharp increase in business investment intentions suggest that the investment cycle is strengthening. India's economy will still grow steadily unless crude oil and food prices rise further.

[CleverTap: Women account for 54% of e-commerce usage in India] CleverTap's survey reveals opportunities in the Indian mobile app market. Indian women account for 28% of total app usage in the country, compared to 16.4% in rural areas. Together, they drive more than 70% of buying decisions. Women in India use more e-commerce apps than men, accounting for 54%.

[Institutional analysis: Russia prepares to act to prevent the ruble from rebounding excessively] Russia is stepping up to contain the ruble's rebound and is preparing to accelerate the pace of interest rate cuts, as officials increasingly see the ruble's rebound as an economic threat. The appreciation of the Russian ruble was initially seen by the Kremlin as a sign that Russia had withstood sanctions against Russia. But now the rise in oil prices has put the government on hold, as it affects the competitiveness of exporters and budget revenues for oil, gas and other exports. An interim policy meeting scheduled for the 26th local time sparked expectations of a sharp cut in interest rates and a possible further easing of capital restrictions. TD Securities expects the bank to cut rates by 300 basis points, up from a previous forecast of 100 basis points.

[UK will levy 25% energy profit tax on oil and gas companies] On the 26th local time, the British Chancellor of the Exchequer announced that the United Kingdom will impose a 25% energy profit tax on oil and gas companies. He said the tax was temporary and would be phased out when oil and gas prices return to more normal levels in history. He also announced a £15 billion cost-of-living support package to help fight inflation. The UK inflation rate was 7% in March, a 30-year high; in April, the inflation rate reached 9%, a 40-year high. The Bank of England said earlier this month that it expects energy bills to rise further and inflation to hit above 10% by the end of the year.

[Bank of Korea Governor: Market expectations of raising interest rates to 2.5% this year are reasonable] The Governor of the Bank of Korea believes that market expectations that the benchmark interest rate will rise to 2.25% to 2.5% by the end of the year are reasonable. In the new economic outlook, the central bank significantly raised the consumer price index (CPI) growth forecast from 3.1% to 4.5%, and the economic growth forecast was lowered from 3% to 2.7%.

Zhimeitong | Logistics Highlights

For more information, please pay attention to the public number: Zhimeitong Research Institute

[ Container throughput at the Port of Hamburg slightly increased in the first quarter of 2022 ] The first quarter of this year brought very different handling and transport developments to the Port of Hamburg. Container throughput rose to 2.2 million TEUs, a 1.8% increase in the first three months. Overall, seaborne cargo handling remained slightly below the result for the same quarter last year, at 31.2 million tonnes. The Port of Hamburg railway transported 12 million tonnes in the first quarter.

[ Baltic dry bulk freight index fell for the third day in a row ] The Baltic dry bulk freight index fell for the third consecutive day on the 26th, dragged down by the decline in the freight index of all ship types. The Baltic index for overall dry bulk fell 194 points, or 6.2%, to 2,933. The capesize index fell 509 points, or 12.8%, to 3,478. Average daily earnings for capesize vessels fell $4,229 to $28,840. The panamax index slipped 78 points, or 2.4%, to 3,140. Average daily earnings for panamax vessels fell $706 to $28,259. The Supramax index fell 10 points to 2,823. The handysize index slipped 4 points to 1,652.

Zhimeitong | Domestic Highlights

For more information, please pay attention to the public number: Zhimeitong Research Institute

[State Office: Promote cross-border e-commerce to accelerate development, improve quality and efficiency] The General Office of the State Council issued an opinion on promoting foreign trade to maintain stability and improve quality, which mentioned that promoting cross-border e-commerce to accelerate development, improve quality and efficiency. In view of the overseas warehouse supervision mode of cross-border e-commerce exports, we will increase policy publicity, and guide enterprises to make full use of the current export tax rebate policy for the goods that are sold, and declare and handle tax rebates in a timely manner. A policy to facilitate the return and exchange of cross-border e-commerce exports shall be introduced as soon as possible, and pilot projects shall be carried out in due course. According to the characteristics of the cross-border e-commerce industry, strengthen policy guidance and support qualified cross-border e-commerce-related enterprises to declare high-tech enterprises.

[Office of the State Council: Further compress the waiting time for international liner ships] The General Office of the State Council issued the opinions on promoting the stability and improvement of foreign trade. All localities should actively optimize the operation process, further reduce the waiting time of international liner ships, and must not increase the number of layers, and introduce measures that affect the efficiency of international container liner berthing operations. Strengthen the protection of customs and operators at air ports and airports, make good use of air cargo capacity, and ensure the transportation of important parts, equipment and products. Strengthen communication and coordination with countries along the international freight trains, and simultaneously improve the efficiency of customs clearance and operation at railway ports. Further improve the efficiency and traffic capacity of Shenzhen-Hong Kong land transport.

[ Civil Aviation Administration: Production indicators fell sharply in April, passenger traffic fell by 84.6% year-on-year] The Civil Aviation Administration of China held a monthly regular press conference. Wu Shijie, deputy director of the Aviation Safety Office of the Civil Aviation Administration, said that in April, the production indicators of civil aviation transportation dropped sharply. The total transportation turnover, passenger transportation, and cargo and mail transportation of the entire industry were 2.95 billion ton-kilometers, 7.88 million person-times, and 420,000 tons, respectively, down 68.0%, 84.6%, and 35.9% year-on-year, respectively, equivalent to 28.1% in the same period in 2019. %, 14.8% and 69.8%. In April, the flight efficiency index further declined. The daily utilization rate of aircraft in the industry was 2.2 hours, a year-on-year decrease of 6.4 hours.

Zhimeitong | E-commerce highlights

For more information, please pay attention to the public number: Zhimeitong Research Institute

[Floods affect Queensland, Australia (QLD): eBay will provide protection to sellers] eBay issued an announcement saying that the recent floods and extreme weather conditions in Queensland, Australia (Que ensland) have affected mail and parcel delivery, resulting in some item deliveries. delay. Additionally, eBay understands that these conditions may impact sellers' business operations and employee commutes. To this end, eBay has implemented seller protection measures. These protections apply to all parcels entering and leaving Queensland affected areas between 11 and 31 May 2022. eBay will continue to monitor the situation and expand these protections as necessary. Note that to be eligible for these protections, sellers must upload valid tracking information in time for the estimated delivery date. eBay will automatically remove:

For all transactions during the above time period, eBay will automatically remove the seller's late delivery (Late Shipment) bad transaction, the seller cancels the order bad transaction and the seller receives any related negative or neutral reviews;

For all transactions during the above time period, eBay will automatically remove the "Item Not Received (INR)" record in the Seller Service Metrics and any related negative or neutral reviews received by the seller;

For sellers in Queensland areas severely affected by this incident, eBay will automatically remove "Item Not Received (INR)" bad transactions (disputes that sellers fail to resolve) from the seller's performance criteria.

This article is edited and organized by Zhimeitong Research Institute. The pictures and information are from the Internet, and the copyright belongs to the original author. This article does not represent that this subscription number agrees with its views and is responsible for its authenticity. Unauthorized reproduction, adaptation or creation of mirror images is not allowed. If you need to reprint, please leave a message in the background to apply and obtain authorization. The content of this article is for general discussion only and does not constitute any commercial or legal advice or services. The trademarks and pictures used and quoted in this article, such as remarks, are from the Internet, and the copyright belongs to the original author and is not used for commercial purposes.