SYDNEY (AP) — China has won a nearly three-year-long dispute with Australia at the World Trade Organization over tariffs on steel products that began during a low point of bilateral relations between the countries, and Australia’s trade minister said Wednesday his government accepted the ruling. Beijing took its complaint to the WTO in June 2021 … Read more
US GDP Latest: How Much Did the Economy Grow Last Year? Bloomberg Source link
The US launched more strikes on Yemen’s Houthis overnight as the Iran-backed militant group continues to roil global shipping markets with attacks around the Red Sea. The American military targeted 14 Houthi missiles just before midnight Yemeni time. They were ready to be launched and presented “an imminent threat to merchant vessels and US Navy … Read more
For the first time, China exported more to Southeast Asia than the US last year, highlighting the realignment of global trade that’s happening as the economic relationship frays between Washington and Beijing. The 10 nations in Asean bought $524 billion of goods last year, higher than the $500 billion worth sold to the US or … Read more
UK Prime Minister Rishi Sunak authorized joint military strikes with the US against Houthi rebels in Yemen and his Cabinet approved, a person familiar with the matter said, as the allies look to deter further attacks on commercial vessels in the Red Sea. Sunak’s Cabinet approved the decision on a conference call Thursday, with airstrikes … Read more
Houthi militants claimed to have attacked another merchant ship in the Red Sea, serving as a reminder of the threat they pose to a vital trade artery. The Houthis’ armed forces’ spokesman said in a televised speech that a vessel called the CMA CGM Tage was attacked after ignoring warnings. In response, French container shipping … Read more
Iran’s dispatch of a warship to the Red Sea is its most audacious move yet to challenge US forces in the key trade route, emboldening Houthi militants whose missiles have disrupted shipping over the past two months. Tehran is unlikely to want direct confrontation — its old frigate being no match for the US-led maritime … Read more
Iran dispatched a warship to the Red Sea after the US Navy destroyed three Houthi boats, a move that risks ratcheting up tensions and complicates Washington’s goal of securing a waterway that’s vital to global trade. The Alborz destroyer traversed the Bab El-Mandeb strait, a narrow choke point between the Red Sea and the Gulf … Read more
Half of Red Sea Container-Ship Fleet Avoids Route After Attacks Bloomberg Red Sea shipping workarounds add costs, delays for suppliers, retailers Reuters Red Sea attacks could raise prices for U.S. consumers The Washington Post Why the ‘Gate of Grief’ is making headlines National Geographic The Brewing Red Sea Storm – OpEd – Eurasia Review Eurasia Review Source link
Houthi assaults on merchant ships as they sail through the Red Sea are driving up the shares of firms transporting everything from manufactured goods to oil and commodities. The combined market capitalization of the world’s largest publicly traded shipping companies has jumped by about $22 billion since Dec. 12, when the assaults really ramped up. … Read more