Labor-management negotiations at US West Coast ports reach preliminary agreement, shipping industry faces complex challenges
20 June 2023
First, the state of the labour negotiations: Preliminary agreement reached on June 15, 2023, the U.S. West Terminal Labor Negotiations, the International Terminal and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA), representing the employer group, reached a preliminary labour contract agreement under the mediation of the U.S. Secretary of Labor Council.
The challenge of the decline in Chinas foreign trade imports and exports in the global economic fluctuations
19 June 2023
Chinas foreign trade has always been an important component of global trade patterns. However, in recent years, due to global economic fluctuations, Chinas foreign trade has faced certain challenges. This article will explore the challenges facing Chinas foreign trade amid global economic volatility. Chinas overall foreign trade situation in May 2023 showed total import and export value of 501.191 billion USD...
The impact of rising cotton prices on the textile industry: Cotton spinning companies are facing challenges and market demand is weakening
19 June 2023
Since May 4, this year, cotton prices have been on the rise, bringing positive offers to relevant trade enterprises, but for cotton textile enterprises, it is to face the soft cotton market environment. Although the rise in cotton prices led to the rise in the prices of related products, but because of the downstream demand not too much rise, can not provide long-term support for upstream prices.
US plans to lift Chinas e-commerce goods tariff exemption, cross-border trade faces new challenges
16 June 2023
Adjustment of tax policies for returned goods: Declared exports under the cross - border e - commerce customs supervision codes (1210, 9610, 9710, 9810)...
Sri Lankas economic recovery shows signs: import restrictions on 286 items lifted
15 June 2023
Sri Lankas Ministry of Finance recently announced the removal of import restrictions on 286 items as the countrys economy gradually stabilizes. This marks a new sign that this South Asian nation is beginning to emerge from its worst economic crisis in decades. Since the economic crisis erupted in spring 2022, Sri Lanka has faced severe foreign exchange reserve depletion and shortages of essential goods, triggering...
The port of Djibouti has required all goods to hold an ECTN certificate since June 15.
14 June 2023
The Djibouti Ports and Free Zone Authority recently announced that starting from June 15, 2023, all goods unloaded at Djibouti ports, regardless of their final destination, must hold an Electronic Cargo Tracking Note (ECTN) certificate.
Labor disputes at US West Coast ports escalate, affecting trade with Asia
13 June 2023
The Electronic Cargo Tracking Note (ECTN) is an official loading document...
The widening of the US trade deficit may affect economic growth in the second quarter
9 June 2023
The U.S. transportation industry is facing severe challenges again. According to reports, due to labor disputes, the Port of Seattle on the U.S. West Coast has completely suspended port freight operations since June 10. This incident may have a significant impact on trade between Asia and the United States.
Deutsche Bank warns: A wave of corporate defaults is coming
8 June 2023
The Port of Seattle is one of the largest maritime ports in North America and is crucial to the U.S. supply chain, accounting for 12% of the countrys GDP...
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