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Trade News
Trade News
25
Mar
The European Commission has tightened the steel safeguard measure to shield the EU steel industry from surging imports, delivering on the EU's Steel and Metals Action Plan. The Commission has reduced the liberalisation rate from 1% to 0.1%, limiting the amount of steel that can be imported into the EU tariff-free. Additionally, countries will no longer be able to use the entire volumes of unused quotas of other countries, including those of Russia and Belarus. The "carry-over" mechanism, which allowed countries to roll...
24
Mar
Renewed hostilities in the Red Sea mean hopes are fading for container lines when it comes to resuming Suez Canal transits. Yemen’s Houthi rebels launched missile and drone attacks on U.S. warships following American airstrikes in Yemen. The President justified the strikes, saying he’s protecting Red Sea shipping, although experts link them to pressure on Iran. The Houthis also vowed to resume attacks on Israel-linked vessels. MSC CEO Soren Toft continues to reiterate that the Suez Canal remains unsafe, and...
20
Mar
Today, the Commission takes action to maintain and expand European industrial capacities in the steel and metals sectors. The Action Plan on Steel and Metals is designed to strengthen the sector's competitiveness and safeguard the industry's future.
The European steel industry is fundamental for European economy, providing inputs to critical sectors such as automotive, clean tech, and defence. A strong steel and metals industry in Europe is crucial to guarantee the EU's security in the current geopolitical context and to deliver on...
19
Mar
By Simon Kaye, CEO, JAGUAR FREIGHT
Although it’s not getting the same attention as the many new tariffs implemented by the US since President Trump took office, the impact of the threatened fees on Chinese-built ships unloading at US ports will be significant. And despite the simplistic headlines, there is more intention (and maybe even a little bipartisanship) behind the added fees than simply being a way to punish China or create more revenue.
Here we’ll explore the nuance and intent...
18
Mar
The global economy has been resilient in 2024, but some signs of weakness are appearing against a backdrop of slower growth, lingering inflation and an uncertain policy environment, according to the OECD’s latest Interim Economic Outlook.
The Outlook projects global growth slowing to 3.1% in 2025 and 3.0% in 2026, with important differences across countries and regions.
GDP growth in the United States is projected at 2.2% in 2025 before slowing to 1.6% in 2026. In the euro area, growth is projected...
17
Mar
After weeks of talk, new tariffs on steel and aluminum imports went into effect on March 12 at 25% on steel and 10% on aluminum. In return, Canada announced C$29.8 billion in counter-tariffs on American goods, and the EU is planning retaliatory measures up to €26 billion on U.S. exports. The escalating conflict has raised concerns among businesses and investors about potential economic instability, with fears of disruptions in supply chains and a broader impact on global markets.
President Trump has reignited...
12
Mar
On 12 March, the United States imposed tariffs of up to 25% on imports of steel, aluminium, and certain products containing steel and aluminium from the European Union and other trading partners. In response, the Commission is launching a series of countermeasures to protect European businesses, workers and consumers from the impact of these unjustified trade restrictions.
Context: measures and countermeasures imposed under the previous Trump administration
In June 2018, the first Trump Administration introduced tariffs on European steel and aluminium...
10
Mar
Tariffs remain the most important story in supply chain. Last week was full of changes and new announcements – click here for an update by Jaguar Freight.
Hong Kong-based CK Hutchison Holdings recently announced its intent to sell a 90% stake in the Panama Ports Company, raising concerns about escalating US pressure on Chinese investments. The US has been actively working to limit China’s global influence, such as its Belt and Road Initiative and its control over critical assets like the Panama Canal. The...
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