The U.S. government has introduced significant trade policy adjustments that will have a direct impact on Chinese exporters, manufacturers, and businesses with operations in Mexico. The key changes include: 1. Termination of the de minimis exemption for goods from China, Mexico, and Canada – Shipments from these countries, regardless of value, will now be subject to duties. The exemption remains available for other countries, but further modifications to this policy may be introduced in the future (Note: the termination of the de minimis exemption from goods from Mexico and Canada are temporarily postponed until March 2025). 2. Increased tariffs on imports from China, Mexico, and Canada – A 10% tariff now applies to Chinese-origin goods, while Canadian and Mexican imports are subject to a 25% tariff (10% for Canadian energy products) (although the Canada and Mexican tariffs are temporarily postponed until March 2025). 3. Enhanced customs procedures – The U.S. government will increase oversight of import documentation, tariff classification, and trade routes to ensure compliance with the updated regulations.

License-in/out transactions have become a key strategic approach for innovative drug and medical device (including medical aesthetics) companies to expedite the research and development of the products and expand market presence. According to statistics, the total deal value of business development (BD) transactions in life sciences sector in China has reached a historic high of over 60 billion US Dollars in 2024. The proportion of license-out transactions continues to rise[2], highlighting the strong momentum of China's biopharmaceutical industry in its global expansion.

Following the economic and financial crisis in 2007, in view of the significant weakness in the resiliency of banks and other market participants to financial and economic shocks, in particular from over-the-counter (OTC) derivatives transactions, the Group of Twenty (G20) agreed on the necessity of improved transparency in the OTC derivatives markets and further regulation of OTC derivatives, and initiated a reform programme in 2009 to reduce the systemic risk from OTC derivatives which comprise of the following four elements: All standardised OTC derivatives should be traded on exchanges or electronic platforms, where appropriate. All standardised OTC derivatives should be cleared through central counterparties (CCPs). OTC derivatives contracts should be reported to trade repositories. Non-centrally cleared derivatives contracts should be subject to higher capital requirements.