By Christian Wienberg (Bloomberg) — The man running the world’s largest container-shipping company says he has access to data that shows Donald Trump has so far failed to wean the U.S. off Chinese imports. Soren Skou, the chief executive of A.P. Moller-Maersk A/S, says Chinese exports to the U.S....
trade war
Soy Trade Goes Topsy Turvy as Major Exporter Turns to Imports
By Kevin Varley and Shruti Date Singh (Bloomberg) — The world of soybean shipping has turned upside down thanks to the ongoing U.S.-China trade war. Argentina, the No. 3 global soy grower, is making major purchases of U.S. supplies. A weekly measure of American shipments to the Latin American...
Worries about deepening trade war
- China has been front-loading exports to the US ahead of a looming rise in tariffs in January.
- Chinese stocks tumbled Friday on trade-war fears and worries about a slowing Chinese economy.
- Experts are pessimistic about the outcome of a meeting between the two countries’ presidents at the G20 summit later this month.
Chinese exports to the US have risen this year as the country looks to get as many goods as possible off its shores before steeper tariffs arrive in January.
“This growth is due to...
ICS: International Trade Not a Zero-Sum Game
Challenging of the proven benefits of multilateralism in global trade by the U.S. could pose serious threats.
https://worldmaritimenews.com/archives/264612/ics-international-trade-not-a-zero-sum-game/
Shipping Remains ‘Cautiously Optimistic’, But Wary of Protectionism
By Alex Lennane (The Loadstar) – Protectionist trade policies are continuing to spook the global maritime sector, although a newly released report suggests the industry has “cautious optimism”. The Navis Business Bellwether report, conducted by Business Performance Innovation (BPI), surveyed more...
Port of Oakland rises, despite trade war
A U.S.-China tit-for-tat over tariffs hasn’t dampened cargo volume growth at the Port of Oakland. In fact, the Port is on track for its third straight year of record container volume in 2018.
But can it last? That’s the question supply chain experts pondered this week at the quarterly meeting of the Port’s Efficiency Task Force. Forty trade and transportation executives ranging from longshore labor representatives to cargo owners gathered to discuss trade dynamics. Their consensus: cargo volume...
Traders rush to beat higher tariffs – China numbers boosted
China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.
Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.
The upbeat trade readings from China offer good news for both those worried about global demand and for the...
http://container-news.com/traders-rush-beat-higher-tariffs-china-numbers-boosted/
BIMCO: South Korea Becomes Largest Long-Distance Importer of US Crude Oil
US crude oil exports to China drop to zero for the second month in a row.
Trump Said to Ask Cabinet to Draft Possible Trade Deal With China
By Jenny Leonard, Saleha Mohsin and Jennifer Jacobs (Bloomberg) — President Donald Trump wants to reach an agreement on trade with Chinese President Xi Jinping at the Group of 20 nations summit in Argentina later this month and has asked key U.S. officials to begin drafting potential terms,...
U.S. Soybean Cargo Heading to China Switches Destination Amid Trade Row
BEIJING, Nov 1 (Reuters) – A vessel carrying soybeans from the United States to China changed its destination to South Korea on Thursday, shipping data showed, amid a trade war that has decimated U.S. shipments of the commodity to the world’s top oilseed importer. The Star Laura, carrying 36,000...