The White House on Saturday released details about the agreement that U.S. President Donald Trump reached this week with Chinese President Xi Jinping to de-escalate their countries’ trade war, including U.S. tariff reductions and a pause in Beijing’s new restrictions on rare earth minerals and magnets. The deal, which also includes resumption of Chinese purchases […]
President Donald Trump announced plans to raise tariffs on imports from Canada by another 10%, according to a TruthSocial post on Saturday. The move follows escalating tensions sparked by an anti-tariff ad campaign from Ontario’s government that used a 1987 Ronald Reagan speech criticizing trade duties. The Ronald Reagan Presidential Foundation later condemned the ad’s […]
U.S. Offers Tariff Relief for Trucks Imported from Mexico and Canada WASHINGTON — Oct 18 (FT) — The U.S. will grant tariff relief for trucks and parts imported from Mexico and Canada, easing the impact of upcoming 25% levies set to take effect on November 1. The decision aims to soften the blow to American […]
European Freight Rates Hit New Lows, Signaling a Structural Shift in Global Trade European container freight rates have now fallen to their lowest level since early 2024. The sharp decline highlights an ongoing imbalance in the global logistics market: too many ships, too little demand, and too many uncertainties in trade flows. Several factors are […]
Early Monday morning, a Boeing 747 cargo jet leased by Emirates and operated by ACT Airlines veered off the north runway at Hong Kong International Airport after landing from Dubai. The aircraft crashed through perimeter fencing and struck a security patrol vehicle, dragging it into nearby waters. Tragically, the two airport security personnel inside, aged […]
China–U.S. Port Fees Disrupt Cargo Flows and Push Up Freight Rates LOS ANGELES/SINGAPORE — Oct 17 (Reuters) — New port fees imposed simultaneously by China and the United States are disrupting global cargo operations, reducing available shipping capacity, and raising freight rates, according to industry officials. Starting October 14, ship operators began removing China-linked vessels […]
Stellantis is betting big on U.S. manufacturing, with a $13 billion investment plan across Illinois, Ohio, Michigan, and Indiana. Over the next four years, the automaker aims to boost its North American vehicle output by roughly 50% while creating about 5,000 new jobs. The funding will reopen the once-idle Belvidere plant in Illinois, upgrade multiple […]
U.S. to Impose 100% Tariffs on Chinese Port Equipment The United States will enforce 100% tariffs on ship-to-shore cranes, intermodal chassis, and related cargo handling equipment linked to China starting Nov. 9, according to the USTR. The move follows a Section 301 investigation into China’s maritime and logistics practices, aiming to reduce reliance on Chinese […]
Airfreight Rates Show Summer Slowdown, But Stronger Demand Looms Ahead Airfreight rates out of Hong Kong showed a quiet summer period in August, with rates to North America slightly rising to $5.29 per kg while rates to Europe saw a slight dip to $4.26 per kg. This is down year-on-year due to weaker demand and […]
Silk Way West’s Strategic Fleet Renewal: A Green Future for Air Cargo In a bold move towards sustainability, Silk Way West has taken delivery of its third Boeing 777 freighter, a key part of its ongoing fleet renewal strategy. As part of a five-plane order, this delivery marks a significant step in the airline’s efforts […]
