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Global Trade & Economics: Page 17

U.S. Customs Ramps Up AI Investment in Push to Sharpen Enforcement

With new funding for technology and enforcement on its way to CBP, trade lawyers and customs brokers across the country are urging clients to be more diligent.

Photo: Bloomberg

Trump Admin Tightens Customs Requirements for Importers

The executive order targets common tariff-avoidance practices, and limits the ability of companies to qualify for customs penalty reductions, among other stricter CBP requirements.

Photo: iStock/Douglas Rissing

Bessent Calls for Overhaul of U.S. Supply Chains

Bessent claimed that decades of prioritizing low-cost sourcing have left the U.S. vulnerable to supply chain disruptions, all while compromising the country's domestic manufacturing.

Photo: Krisanne Johnson / Bloomberg

Alibaba Sues U.S. Over 'Military' Blacklist

Alibaba said it had previously asked to meet with the DoD to address the Chinese military affiliation concerns.

Photo: iStock.com/Robert Way

Tariffs Raise Prices, Plain and Simple

CEO of toy manufacturer that brought the SCOTUS case that struck down Trump’s “reciprocal” IEEPA tariffs says there’s no way to defray tariffs costs other than by raising prices.

Rick Woldenberg Ceo Learning Resources

IMO to Carry Out Evacuation Plan for Stranded Hormuz Ships

The IMO said that it will carry out a large-scale operation with cooperation between the maritime industry and the U.S., Iran, Oman and other Gulf Coast states.

An aerial 3D illustration render of cargo ships stuck in the Strait of Hormuz. Image: iStock/quantic69

Heat Wave Lowers Rhine Levels, Straining Fuel Supply Chains

Earlier on June 22, barges carrying diesel through Kaub in Germany were limited to about 1,070 tons of cargo, according to Spotbarge data.

Photo: Bloomberg

U.K. Set to Finalize Long-Awaited Deforestation Rules

The rules will require businesses to conduct regular checks of their supply chains to ensure that they're not sourcing products grown on illegally deforested lands.

Palm oil cultivation. Photo: iStock/richcarey

U.S. Temporarily Authorizes Sale of Iranian Oil

With the U.S. temporarily lifting its sanctions on Iranian oil, the Middle Eastern nation will now temporarily be allowed to sell oil using U.S. dollars

Photo: iStock / onurdongel

China Targets U.S. Rare Earths Firms in Response to Pentagon List

The move was in response to the Pentagon’s decision this month to add some of China’s biggest companies to a roster of firms it accuses of supporting the Chinese military.

Image: iStock/wildpixel

Iran Says Hormuz Closed Again as Talks With U.S. Set to Open

Iran’s declaration on June 20 will likely make more risk-averse shipowners with vessels that have been trapped inside Hormuz for months more wary of exiting.

Vessels remain anchored off Port Sultan Qaboos, on June 20. Photo: Bloomberg

Iran Announces Plan to Charge Fees in Strait of Hormuz

Iran's chief negotiator Mohammad Bagher Ghalibaf said that the strait still needs to be managed, despite progress made on negotiations with the U.S.

Photo: iStock / 35007

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