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Global Trade & Economics: Page 172

U.S. Import Cargo Volumes Expected to Slow After Hitting 2023 Peak

U.S. ports handled 1.96 million TEU in August, less than the 2 million TEU the NRF originally expected the ports to handle that month.

Photo: iStock.com/MattGush

Unionized Workers Begin Striking at Three Canadian GM Plants

The walkout came after Unifor said that GM was “stubbornly refusing” to match the three-year deal the labor union had previously reached with Ford Motor.

Photo: iStock.com/SandraMatic

BMW CFO Says EU’s EV Subsidy Probe Could Hurt Auto Makers

The EU launched an anti-subsidies probe into Chinese EV manufacturers, setting in motion a 12-month investigation that could see provisional duties and tariffs imposed over the next nine months.

U.S. to Participate in Upcoming IPEF Negotiating Round

IPEF partners will work towards negotiating the outcomes of Pillars I (Trade), III (Clean Economy) and IV (Fair Economy) of the trade framework.

Photo: iStock.com/leekris

Aurubis to Keep European Copper Premium at Record High Next Year

The company said it has told customers it will keep the surcharge at $228 a ton ahead of the start of annual supply negotiations in London.

Photo: iStock.com/SAND555

WTO Cuts 2023 Forecast for Growth in Trade in Goods by Half

The WTO said October 5 that merchandise trade volumes would grow by just 0.8% in 2023, less than half of the 1.7% estimate that came in April.

Image: iStock.com/thitivong

EU Formally Opens Subsidies Probe into EVs Made in China

The probe will focus on new battery-powered electric vehicles (BEVs) and alleged subsidies granted by the Chinese state, a legal notice in the EU’s official journal confirmed October 4.

Munich Motor Show. Munich, Germany. September 6, 2023. Photo: Bloomberg

U.S. Going After Chinese Companies Involved in Fentanyl Supply Chain

The sanctions and charges, which were brought on by the U.S. Attorney’s Offices in Florida as well as the Federal Treasury Department on October 3, were strongly condemned by China.

Photo: iStock / Scukrov

Russia, Saudi Arabia Extend 1.3M Barrel/Day Oil Cuts to the End of 2023

The reductions are part of previously announced voluntary cuts led by Russia and Saudi Arabia totaling 1.7 million barrels per day.

Photo: iStock.com/tifonimages

Gartner Releases Top Ten Asia/Pacific List

Alibaba placed second on the list followed by JD.com in third place, Taiwan Semiconductor in fourth place and Toyota Motor in fifth place.

Photo: iStock.com/Andrew_Howe

IMF Warns Fragmentation Imperils Food Security, Green Transition

Minerals critical for the green transition and highly traded agricultural products are especially vulnerable to “geo-economic fragmentation,” the IMF said October 3.

Torun, Poland. Photo: Bartek Sadowski/Bloomberg

Building Trust-based Supply Chains to Mitigate Forced Labor Risk

Importers must start asking the hard questions and take action to mitigate the significant legal, financial, and reputational risks of trading with partners involved with forced labor.

Photo: iStock.com/TRAVELARIUM

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