I. Overseas Market News

In Vietnam, where GDP grows at 8%, there lies an opportunity to replicate the success of China's beauty industry. Vietnam is almost a carbon copy of China in terms of culture, aesthetics and even social etiquette.

Vietnam’s local beauty brand landscape is scarce, standing at the eve of branding. Shelves are dominated either by high-priced international giants from Japan, South Korea, Europe and the US, or uncertified factory-made products, leaving a glaring gap in the mid-range market segment.

Amortals achieved monthly remittances exceeding RMB 15 million in Vietnam within just one year. Brands like KanS, Carslan and Colorkey all have overseas expansion plans for Vietnam, building multi-brand portfolios to seize different niche tracks such as beauty and personal care, and penetrate the daily lives of Vietnamese households. (36Kr Global)

II. Global Trade Regulations

1.The Ministry of Commerce ruled that imported pork and pork by-products originating from the EU constitute dumping. Anti-dumping duties ranging from 4.9% to 19.8% will be imposed on such EU imports for a 5-year period. (Ministry of Commerce of China)

2.Latest adjustment to the EU Carbon Border Adjustment Mechanism (CBAM): 180 steel and aluminium-intensive products are newly included, covering machinery, electrical appliances and specialized industrial equipment. This may bring 7,000 new importers under the CBAM scope. (Zhejiang Council for the Promotion of International Trade)

3.New Mexican tax regulation: E-commerce platforms are required to withhold income tax and VAT from sellers' sales proceeds. Sellers without a Mexican Tax ID (RFC) will be subject to 20% income tax and 16% VAT, with a combined withholding rate of up to 36%. (Cifnews)

III. Foreign Trade News

1.The US added DJI and other drone companies to the Entity List, and will ban the approval of new drone models for import or sale in the US. China responded: Halt the wrongdoing and revoke the decision immediately! (Global Times)

2.The US International Trade Commission (ITC) officially launched a Section 337 investigation into small microwave-ventilator combinations, naming 16 enterprises from China, the US, Canada, South Korea and Sweden as respondents. (Trade Law Online)

3.Australia made preliminary anti-dumping and countervailing rulings on freight railway wheels imported from China. A 36.9% duty rate applies to both non-cooperating producers and all other producers, under Australian Customs Code 8607.19.00.20. (China Trade Remedy Information Website)