Biden's new China tariff wall faces leakage via Mexico, Vietnam
“U.S. Trade Representative Katherine Tai told reporters she was concerned about Mexico's trade relationship with China and to ‘stay tuned’ on future separate efforts to head off tariff evasion problems.”
[Reuters]
Asia-Pacific free trade pacts have been a big success for the U.S.
“The U.S. has admittedly experienced downsides from trade and globalization, especially in relation to China, which have effectively made trade a four-letter word in domestic politics. Yet those downsides have not come from Washington's FTAs with Australia, South Korea and Singapore.”
[Nikkei Asia]
Ocean freight rates skyrocket as Red Sea disruptions continue
“According to Freightos, ex-Asia rates have increased by around $1,000 per 40-foot-equivalent units (FEU) since the end of April, climbing to $4,000/FEU for routes to the U.S. West Coast and Northern Europe, as well as $5,000 to the Mediterranean and $5,400/FEU to the East Coast.”
[Supply Chain Brain]
EU extends trade support to Ukraine for one more year
“In addition, an emergency brake applies to eggs, poultry, sugar, oats, maize, groats, and honey, which will be automatically triggered if import volumes reach the average yearly imports recorded between 1 July 2021 and 31 December 2023.”
[European Commission]
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