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Global Trade & Economics: Page 189

Biden’s Labor Chief Visits California to Break Deadlock in West Coast Port Talks

Acting Labor secretary Julie Su is reportedly encouraging the union and port managers “to stay at the table and reach an agreement."

Port of Los Angeles. Los Angeles, California, US. June 2023. Photo: Bloomberg

Germany Warns of Industry Shutdown if Russian Gas Stops Flowing

Vice Chancellor Robert Habeck said German policymakers should avoid "making the same mistake again" of assuming the economy will be unaffected by the Russian war in Ukraine.

German Economy Minister, Economy Minister Robert Habeck. Photo: Bloomberg/Omer Messinger/Getty Images

VW, Glencore Back $1bn SPAC Mine Deal to Secure EV Metals

According to a June 12 statement, London-listed ACG Acquisition Co. is buying the assets from the private equity firm Appian Capital Advisory.

Vale N4W. Parauapebas, Para state, Brazil. May 2023. Photo: Dado Galdieri/Bloomberg

Saudi Arabia Signs $5.6bn EV Manufacturing Deal with Chinese Company

The memorandum of understanding accounted for more than half of the $10 billion of investments signed by the Kingdom and China during the Arab-China Business Conference.

Flags of China and Saudi Arabia. Photo: iStock.com/Mo Semsem

In the Nearshoring Game, Is China the Ultimate Winner?

Over the past 18 months, Chinese companies have leased up to 80% of industrial park space in Mexico to produce solar panels, electric vehicle batteries and housing materials.

Photo: iStock.com/Toa55

In the Race to Electrification, the Humble Bus Is in the Lead

By 2032, about half of the world’s buses will be entirely battery-powered as will almost three out of four buses sold, according to BloombergNEF’s seventh annual Electric Vehicle Outlook.

Bogota, Colombia. April 2023. Photo: Bloomberg

White House Claims Supply Chain Resiliency Has Improved Since 2020

The backlog of anchored vessels has decreased from 155 to roughly a dozen while 92% of goods in grocery and drug stores are in stock, exceeding pre-pandemic levels.

Photo: iStock.com/lucky-photographer

Canada Joins U.S. Trade Complaint Against Mexico’s GMO Corn Ban

Canada's Trade and Agriculture Ministers said the country "shares the concerns" of the U.S. that Mexico's measures could potentially disrupt the North American trade market.

San Luis Potosi, Mexico. 2021. Photo: Bloomberg

China to Host Country’s First International Supply Chain Exhibition

Almost 100 companies have reportedly signed up for the expo so far with over 300 businesses expected to attend the event in the late fall.

Photo: iStock.com/TexBr

China Lobbies EU Over Proposal to Punish Firms Supplying Russia

Chinese diplomats recently met with their European counterparts in Brussels and Beijing as part of a campaign to reportedly persuade officials to drop the Russian-based blacklist.

Blagoveshchensk, Russia. Photo: Bloomberg

Soaring EV Sales Could Still Leave World Short on Emissions Goal

Shipments of plug-in passenger vehicles surged to around 27 million units in 2023 as sales jumped in China and the U.S., offsetting slower growth in Europe.

Great Wall Motor Ltd.'s Ora Good Cat. Bangkok, Thailand. Photo: Bloomberg

Near-Shoring in Mexico: More than Manufacturing

About 88% of U.S.-based small and medium-sized businesses (SMBs) will reorganize their supply chains to leverage suppliers in the U.S. or Mexico in 2023.

Photo: iStock.com/Oleksii Liskonih

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