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Shipping traffic falls by a third at Russian ports
- Date: 09/03/2022 12:56
- Category: Global Trade
Shipping traffic in and around Russian ports has dropped by a third since the invasion of Ukraine began, according to the Wall Street Journal. Meanwhile, the number of Russian-owned vessels seeking jobs has tripled. The cha...
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No economic benefit to freeports, says Treasury watchdog
- Date: 04/11/2021 12:22
- Category: Global Trade
The Office for Budget Responsibility (OBR), a public body funded by the UK Treasury with the purpose of providing independent forecasts of public finances, has said that the UK government’s planned freeports scheme will...
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UK government extends Northern Ireland grace period indefinitely
- Date: 07/09/2021 11:59
- Category: Global Trade
Plans for border checks between Northern Ireland and the Republic of Ireland are now suspended indefinitely, according to the UK government. As per the Northern Ireland Protocol, agreed in 2020, Northern Ireland is temporari...
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Imports from Northern Ireland to Republic of Ireland up 77%
- Date: 18/08/2021 14:07
- Category: Global Trade
Imports to the Republic of Ireland from Northern Ireland are up 77% since the UK left the EU, according to the Irish Central Statistics Office (CSO). In the first six months of 2021, the value of imported goods was around &e...
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Post-Brexit trade barriers could cost e-commerce importers £5.25 billion a year
- Date: 08/04/2021 12:14
- Category: Global Trade
A report by ParcelHero has found that new trade barriers as a result of the Brexit deal could cost e-commerce importers in the UK more than £5 billion a year. Since 1st January 2021, extra red tape at customs has cause...
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President Trump forced to clarify Oval Office cargo comments
- Date: 12/03/2020 10:04
- Category: Global Trade
US President Donald Trump has been forced to correct comments he made about trade prohibitions yesterday during an Oval Office address concerning the coronavirus pandemic. Trump announced a ban on all travel from the Schenge...
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UK government launches consultation on tax-free ports
- Date: 10/02/2020 11:31
- Category: Global Trade
The UK government has launched a consultation on the creation of up to 10 new freeports with tariff and duty exemptions. The consultation is set to last 10 weeks, after which ports across the country will be invited to bid f...
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Globalisation not in decline, according to DHL
- Date: 10/12/2019 14:11
- Category: Global Trade
The world is still more connected than at almost any other point in history, according to the DHL Global Connectedness Index (GCI). The Index, which measures key developments in the global flow of capital, trade, information...
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Latest US-China tariffs hit consumer goods and fuel
- Date: 02/09/2019 15:48
- Category: Global Trade
The US has imposed $112 billion worth of new tariffs on Chinese imports, including consumer goods such as shoes, food, dishwashers and nappies, with the aim of reaching 15% duties on $300 billion by the end of the year. In r...
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Up to 10 UK “free ports” to be opened under Johnson government
- Date: 02/08/2019 14:51
- Category: Global Trade
Boris Johnson’s government has revealed plans to open up to 10 “free ports” across the UK, following up on comments he made during the leadership contest. International trade secretary Liz Truss has appoint...
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Conservative frontrunners consider controversial “freeports”
- Date: 02/07/2019 15:11
- Category: Global Trade
The frontrunners for the leadership of the Conservative Party, Boris Johnson and Jeremy Hunt, have both said they would consider plans to create “freeports” in Aberdeen, Peterhead and Teesside. Freeports are zone...
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European e-commerce worth estimated €621 billion by end of 2019
- Date: 14/06/2019 12:53
- Category: Global Trade
E-commerce in Europe is estimated to be worth around €621 billion by the end of 2019, according to a report by the Ecommerce Foundation. This would be an increase of 13.6% compared to last year’s €547 billion...
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Companies struggle to work around US-China trade war
- Date: 23/05/2019 16:06
- Category: Global Trade
Companies attempting to work around steep US-China tariffs have caused logistics bottlenecks due to poor infrastructure along alternative routes, according to the Wall Street Journal. This is despite President Donald Trump&r...
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Tit-for-tat tariffs continue between the US and China
- Date: 13/05/2019 15:25
- Category: Global Trade
President Donald Trump escalated the US-China trade war last week, bumping up the tariffs on $200 billion worth of Chinese goods from 10% to 25%. Now China has retaliated, with $60 billion worth of tariffs on 5,140 US product...
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Unsafe products could flood UK after Brexit, says consumer advocacy group
- Date: 24/04/2019 14:43
- Category: Global Trade
Consumer advocacy group Which? has warned that unsafe products could flood the UK after the country leaves the EU’s Safety Gate system, leaving the public vulnerable. According to the group’s analysis, Safety Gat...
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Trump threatens another $11 billion worth of tariffs on EU imports
- Date: 10/04/2019 09:51
- Category: Global Trade
President Donald Trump has threatened to impose $11 billion worth of tariffs on EU imports of cheese, wine and aircraft parts because of EU subsidies for Airbus, which he said had “adversely impacted the United States&r...
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Jean-Claude Juncker under fire for response over “freeports”
- Date: 21/03/2019 15:19
- Category: Global Trade
President of the European Commission Jean-Claude Juncker has received criticism from MEPs for his response to allegations about “freeports”, tariff-free zones that are used for the tax-exempt storage of high value...
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No tariffs on most UK imports in the event of a no-deal Brexit
- Date: 13/03/2019 12:30
- Category: Global Trade
The UK government has announced no tariffs on most imports to the UK following a no-deal Brexit. 87% of imports would be tariff-free under a temporary scheme, excluding some that would be maintained to protect industries suc...
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President Trump delays further tariffs on Chinese goods
- Date: 25/02/2019 15:59
- Category: Global Trade
President Donald Trump has said that the US will delay further trade tariffs that were to be imposed on Chinese goods from 1st March. Import duties were due to rise from 10% to 25%, affecting $200 billion worth of goods, but...
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Customs checks at Dover could take 8 hours per lorry with no-deal Brexit
- Date: 12/12/2018 16:12
- Category: Global Trade
Customs checks at Dover would take eight hours per lorry if government plans for a no-deal Brexit were followed, according to the Road Haulage Association (RHA). Speaking at a special summit in France, chief executive Richar...
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Customs delays of just 30 minutes could bankrupt 1 in 10 firms
- Date: 26/09/2018 09:39
- Category: Global Trade
According to a survey of supply chain managers, customs delays of only 10-30 minutes could bankrupt one in ten firms. The Chartered Institute of Procurement and Supply (CIPS) issued the report as a warning against the econom...
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US importers scramble to clear goods ahead of third wave of tariffs on China
- Date: 25/09/2018 15:42
- Category: Global Trade
Logistics companies and importers are rushing to meet the new tariff deadline for the latest round of tariffs imposed by the US on China. A 10% levy is to be applied to the declared value of any goods bought from Chinese sup...
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Supply chain workers at risk of exploitation as automation grows
- Date: 17/07/2018 15:59
- Category: Global Trade
The growth of automation in the supply chain increases the risks of exploitative work and modern slavery, according to a report by Verisk Maplecroft, a global risks research company. Once machines take over routine tasks and...
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EU announces new retaliatory tariffs on US products
- Date: 25/06/2018 15:05
- Category: Global Trade
The EU has released its list of tariffs on US goods, in response to the tariffs imposed on the EU, Mexico and Canada by President Trump. The new tariffs apply to 340 products overall, worth £2.5 billion, in a tit-for-t...