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US port crisis: ILA strike looms over global economy
In less than five days, the current contract of the International Longshoremen's Association (ILA) will expire, and a possible large-scale strike looms on the horizon that could paralyse many of the US ports along the East and Gulf coasts. Negotiations between the ILA...
US Confirms Section 301 Tariffs on Imports of Steel, Aluminium and Critical Minerals from China
The US government announced the confirmation of Section 301 tariffs on a wide range of raw material imports from China, including steel, aluminium, lithium ion batteries, graphite, and other critical minerals. This decision was made official on 13 September by the...
Relaunching EU Economic Competitiveness: Mario Draghi’s Report and the Challenges for the European Steel Industry
A new almost 400-page report by former European Central Bank (ECB) President Mario Draghi outlines the measures needed to boost the economic competitiveness of the European Union (EU). According to Eurofer, the European steel producers' association, this report should...
Falling Sea Freight Costs from Asia: A Look at Recent Dynamics
In recent months, the global ocean freight market has experienced significant fluctuations in costs, with a slight decline in rates for sea freight from Asia to major trade routes. This article explores the causes of these variations, their effects on different...