Trade
Bangladesh is trying to secure wheat from Russia as India stops exports: Reuters, citing sources
A woman makes bundle of wheat in Bangladesh. Bangladesh is trying to secure wheat supplies from Russia in a government-to-government deal after it’s biggest supplier India banned exports of the grain last month to contain local prices, government and trade officials told Reuters on Wednesday. Majority World | Universal Images Group | Getty Images Bangladesh […]
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Australia’s leading wine authority to close office in China as exports plunge
Lin Tiangui, a representative of Winston Wine, looks at a bottles of wine produced from Winston Wine’s own Australian winery at one of its stores in Shanghai, China on October 18, 2011. Qilai Shen | Bloomberg | In Pictures | Corbis Historical | Getty Images Australia’s leading wine industry body Wine Australia will be closing […]
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Former U.S. ambassador says lifting China tariffs could slash inflation by 1% over time, help Biden in midterms
Removing tariffs on imported Chinese goods will strip 1% off inflation in the U.S. over time and return confidence to the economy which could help President Joe Biden at the ballot box, former U.S. ambassador David Adelman says. “Inflation will be No. 1 issue in midterm elections in the U.S. in November,” Adelman told CNBC’s […]
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World Trade Organization strikes global trade deals deep into overtime
World Trade Organization Director-General Ngozi Okonjo-Iweala delivers her speech at the WTO headquarters in Geneva on June 17, 2022. The World Trade Organization’s 164 members approved a series of trade agreements early on Friday that included commitments on fish and pledges on health and food security after more than five grueling days of negotiations. Fabrice […]
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Boeing delivers 35 planes in May as it grapples with supply chain problems
A Boeing 737 MAX airplane lands after a test flight at Boeing Field in Seattle, Washington, June 29, 2020. Karen Ducey | Reuters Boeing said Tuesday it delivered 35 planes in May, on par with the previous month as it grappled with supply chain issues affecting its bestselling 737 Max jetliner. The manufacturer booked gross […]
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Latest Shanghai quarantines add more pressure to global supply chain
Staff members of China Post unload parcels of daily necessities for residents quarantined at home from a minivan on May 14, 2022 in Shanghai, China. Tian Yuhao | China News Service | Getty Images The mass quarantine measures imposed this past weekend in Shanghai, including highway closures, severely affected trucks carrying exports bound for the […]
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Union announces daytime work stoppage at congested Port of Oakland
In an aerial view, a container ship sits docked at the Port of Oakland on May 20, 2022 in Oakland, California. Justin Sullivan | Getty Images A crucial port workers union is shifting a planned work stoppage to daytime hours June 20 at the already-congested Port of Oakland in California, just days before the expiration […]
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HSBC shutters Hong Kong-based trade start-up Serai
An HSBC Holdings bank branch in Hong Kong on May 24, 2022. A Hong Kong-based trade platform launched by HSBC Holdings three years ago with much fanfare has shut down after failing to build a commercially viable business. Bertha Wang | Bloomberg | Getty Images A Hong Kong-based trade platform launched by HSBC Holdings three […]
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To boost solar, Biden looks the other way on potential Chinese trade violations
U.S. President Joe Biden’s move to prohibit new tariffs on the solar panels also took the teeth out of an investigation by the Commerce Department that was required by law. Logan Cyrus | The Washington Post | Getty Images Facing paralysis of the U.S. solar industry, President Joe Biden has ordered that potential trade violations by Chinese solar panel […]
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These charts show the state of the global supply chain as China eases Covid lockdowns
Zoom In IconArrows pointing outwards The CNBC Supply Chain Heat Map for China, which is gradually easing Covid lockdowns, is showing several hot spots slowing down trade flow in recent days. China’s “zero Covid” measures on trucking and cross-city transport limitations continue to slow down manufacturing and logistics. The decrease in completed manufactured goods is […]
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