Freight rates from China to West Coast down 90% as global trade falls off fast
“‘In 2023, there is a high possibility of an all-out price war,’ Roeloffs said. ‘It doesn’t seem that the capacity restrictions that we have seen in the past two years are due to return, so we’ll just have ample capacity both on the vessel as well as on the container side. With the competitive dynamics in the container shipping and liner industry, I don’t expect especially the big players to hold back, and we do expect prices to come down to almost variable costs. We also foresee market consolidation.’”
[CNBC]
China starts WTO dispute against U.S. chip export curbs
“‘As we have already communicated to the PRC, these targeted actions relate to national security, and the WTO is not the appropriate forum to discuss issues related to national security,’ Hodge said in an emailed statement.”
[Reuters]
Uruguay's free-trade deal ambitions rattle South American trade bloc
“In late November, Brazil, Paraguay and Argentina formally warned Uruguay that they could take ‘measures’ against if it forged ahead with its plans.”
[Reuters]
Russia slaps duty on imports from unfriendly countries
“The measure, which is valid until December 31, 2023, targets shampoo, hair products, toothpaste, shaving creams, deodorants and other personal care products and detergent imported from the US, UK, Canada, Australia and Poland.”
[RT.com]
Copyright © 2024 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.