Friendshoring takes hold as geopolitical tensions weigh on trade flows
“Bilateral trade between countries with similar political stances – a trend known as friendshoring – has risen by more than 2% in the year since Q3 2022, despite an overall slump in the value of goods being traded.”
[Global Trade Review]
As manufacturers turn away from China, Vietnam lures investment
“As U.S. manufacturers’ eyes turn towards the country, Vietnam is pushing to ensure its industry and economy are set up for long-term growth.”
[Supply Chain Dive]
CBP halts freight rail operations at two Texas ports of entry
“The El Paso and Eagle Pass rail bridge suspensions took effect at 9 a.m. EST Monday. CBP officials said the suspensions will be temporary but did not provide a time frame for the reopening of the rail bridges.”
[FreightWaves]
What do Red Sea assaults mean for global trade?
“Delays to products reaching shops can be expected, with container ship journeys expected to take at least 10 days longer due to the Cape of Good Hope route adding about 3,500 nautical miles. The extra distance will also cost companies more. Shipping rates have risen 4% in the past week and those costs could be passed on by businesses to customers.”
[BBC]
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