Food prices will likely stay elevated in 2022 as disruptions to the global supply chain are set to persist, according to the head of Cargill, who highlighted labor shortages as one of the biggest risks facing the industry.
The U.S. intends to initiate a new economic framework for the Indo-Pacific in 2022, Commerce Secretary Gina Raimondo said, as the Biden administration aims to reinvigorate America’s standing in the region.
Ocean freight rates, which have pummeled retailers and manufacturers throughout 2021, may take more than two years to return to normal levels if past market cycles are any guide.
Few tools of the global economy have survived without major innovations as long as the shipping container. The supply ructions around the world are presenting an opportunity to test that incumbency.
The Biden administration spurned a plan by Intel Corp. to increase production in China over security concerns, dealing a setback to an idea pitched as a fix for U.S. chip shortages.
The Clydebank Declaration on green shipping was unveiled Wednesday at the COP26 climate summit in Glasgow, Scotland, and signed by 19 nations including the U.S., U.K., Japan, France and Germany.
The pileup is the latest logistical knot in global supply chains, with satellite shipping data allowing for real-time monitoring of port issues globally.
Federal Reserve officials meet this week as consumers and companies fret the U.S. economy is facing the most widespread supply crunch since the oil crisis of 1973.
The U.S. and the European Union have reached a trade truce on steel and aluminum that will allow the allies to remove tariffs on more than $10 billion of their exports each year.
