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Trade News
Trade News
06
Jan
The International Longshoremen’s Association (ILA) and United States Maritime Alliance (USMX) are set to resume contract negotiations ahead of a January 15 deadline. Perhaps the threat of liner operators implementing surcharges if the strike happens helped get the ball rolling again. Regardless, the hope is that the issues regarding wages and working conditions for East Coast port workers will be resolved. Many in the industry are concerned about further disruptions, especially in light of other issues the supply chain is...
20
Dec
Paris, France – This week, Export-Import Bank of the United States (EXIM) Chair Reta Jo Lewis delivered remarks during the International Economic Forum of the Americas’ (IEFA) Conference of Paris and met with industry leaders in the pharmaceutical, finance, and renewable energy sectors. Over the course of the week, Chair Lewis highlighted EXIM’s efforts to promote U.S. technologies that can reduce emissions and support U.S. jobs.
In remarks during a panel titled, “Scaling Lower Carbon Economies at Speed,” Chair Lewis said...
19
Dec
Bipartisan legislation will modernize the EDA and other regional commissions whose mission is to spur economic growth in communities across the country
The U.S. Department of Commerce’s Economic Development Administration (EDA) celebrates its historic reauthorization by Congress, allowing it to continue its legacy of promoting American innovation and competitiveness by providing grants and support to communities across the country. Since 1965, EDA has led some of the nation’s most impactful programs to strengthen public works and infrastructure, job creation and workforce development,...
17
Dec
WASHINGTON, D.C. - This week, Assistant Secretary of Commerce for Industry and Analysis Grant T. Harris traveled to New York City to advance the U.S. Department of Commerce’s efforts to strengthen U.S. supply chains. During his visit, he participated in the Financial Times: Investing in America Summit and met with industry leaders to advance the Department’s mission.
At the Financial Times Summit, Assistant Secretary Harris delivered the keynote address, where he highlighted the Biden-Harris Administration’s efforts to develop stronger supply...
16
Dec
Geopolitics remains one of the greatest threats to global supply chains. Is AI the solution? At present, AI is already helping to manage several challenges, including climate change, regional tensions, and trade conflicts. In the face of these and other issues, AI can improve things through predictive analytics, optimized logistics, and better resource allocation. This can help supply chains better work through complexities and align with sustainability and regulatory demands while improving visibility, decision-making, and risk management.
The International Air Transport Association...
09
Dec
The EU’s naval commander is pushing for shipping activity to resume in the Red Sea, saying that under Operation Aspides—and with proper risk management—it would be possible for 15% of ships to return immediately. Part of his argument is that rerouting away from the region undermines the maritime industry’s resilience, adding that coordinated international efforts are needed to maintain secure shipping lanes. One of his recommendations is to transit at night with the Automatic Identification Systems turned off, hindering visual...
02
Dec
Airfreight rates between Europe and the Americas have spiked in recent weeks, pushing up global air cargo prices. The main culprit seems to be reduced cargo capacity on these lanes, coupled with seasonal demand. For example, spot rates from Europe are 23% higher than they were at this time last year. Other key routes, such as Asia to the US and Europe are on the rise as well, although increases there are more moderate.
Sustainability regulations and compliance are an ongoing...
25
Nov
Ocean shippers may face new challenges following Donald Trump’s reelection. Getting the most attention are the proposed tariffs on imports, particularly targeting China. Higher tariffs could lead to heightened front-loading of imports and higher rates. Medium- and long-term impacts on trade routes could include a growing reliance on Mexico as an alternative entry point into the US, and concerns about the general stability of global supply chains. All of which increases the importance of better supply chain planning by importers.
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