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Global Trade & Economics: Page 186

U.S. Merchandise-Trade Deficit Shrinks on Decline in Imports

The shortfall in goods trade narrowed by 6.1% to $91.1 billion, according to Commerce Department data released on June 28.

Long Beach, California. June 2023. Photo: Eric Thayer/Bloomberg

Hungarian Minister Warns Against China 'De-Risking'

“Political leaders in Europe... are interested in so-called decoupling or de-risking. Which, to be honest, according to our understanding, would be [economic] suicide,” said Hungary’s Foreign Minister.

Photo: iStock.com/Oleksii Liskonih

Japan Reinstates South Korea as a Preferred Trading Partner

The restored status will take effect July 21, 2023, according to a June 27 statement from Japanese trade minister Yasutoshi Nishimura.

Yoon Suk Yeol (left) and Fumio Kishida (right). Tokyo, Japan. March 16, 2023. Photo: Kiyoshi Ota/Bloomberg

European Gas Advances as Market Focuses on Outages, Hot July

"Temperatures above the norm across Europe could potentially increase energy demand for cooling purposes,” said Energi Danmark in a note.

Photo: Oliver Bunic/Bloomberg

Sinking Global Trade Hurts Asia, Helps Western Countries

In May 2023, exports from South Korea were down 11% over the last 12 months when compared to levels recorded during September 2022.

Photo: iStock.com/NicoElNino

U.S.-U.K. Minerals Agreement May Boost U.K. Exports, S&P Says

Lithium carbonates and hydroxides lead the U.K.’s exports of the five minerals, but face considerable competitive challenges.

Photo: iStock.com/HT Ganzo

Orders for U.S. Business Equipment Increase for a Second Month

The value of core capital goods orders increased by 0.7% during May after a downwardly revised 0.6% gain during April 2023, according to Commerce Department figures.

Charlotte, North Carolina. August 2017. Photo: Luke Sharrett/Bloomberg

Wheat Climbs to Four-Month High as Traders Assess Russia Risks

Chicago wheat futures climbed to $7.56 a bushel in New York trading on June 26, putting prices on track for a 29% monthly gain, the biggest since 2015.

Bicske, Hungary. May 2023. Photo: Akos Stiller/Bloomberg

Ford Battery Plants on Track to Receive $9.2bn Federal Loan

The money will be awarded via the Advanced Technology Vehicles Manufacturing Loan Program to BlueOval SK, a new joint business venture established by Ford and SK On.

Photo: iStock.com/gopixa

Biden Energy Subsidies Risk Distorting Critical Metals Market, UK Minister Warns

The Inflation Reduction Act has been a "huge challenge,” according to U.K. Business Minister Nusrat Ghani who said that the lure of the U.S. "distorts the market.”

Brazil. June 2023. Photo: Bloomberg

Austria Sees Need to Curb Russian Gas Reliance as Supply Risks Exposed

“It’s clear that we’re not far or fast enough down the path to eliminate Russian gas,” said Energy Minister Leonore Gewessler during a June 26 press briefing.

Leuna, Germany. January 2007. Photo: Katja Buchholz/Getty Images/Bloomberg

German €11bn Defense Orders Set for Lawmaker Approval

The German government reportedly plans on buying 60 Boeing Co. Chinook helicopters and three maritime surveillance vessels with almost $12 billion in funds.

Photo: Chung Sung-Jun/Getty Images/Bloomberg

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