A worldwide escalation of the trade tensions between the U.S. and its major trading partners would have consequences for global trade equivalent to the 2008 financial crisis, the World Bank has warned.
Mexico will import more pork products from Europe after imposing a 20 percent tariff on U.S. pork legs and shoulders in retaliation to steel tariffs, Economy Minister Ildefonso Guajardo said on Tuesday.
Several of the world's largest container shipping companies have imposed emergency bunker surcharges upon their customers in the past two weeks, seeking to claw back revenues lost to rising fuel bills caused by the jump in crude prices in recent months.
Factory growth in major manufacturing hubs showed signs of cooling last month as companies braced for potential damage from rising global trade tensions while also grappling with accelerating inflation and a strong dollar.
The European Commission is proposing a ban on single-use plastic items like straws and utensils according to draft rules released this week. The legislation, which needs the approval of all member states and the European Parliament, would also require plastic producers pay for cleanup and waste management, CNN Money reported.
The European Union's new data privacy regimen, the bloc's first major overhaul of rules governing people's data since 2005, took effect last week after months of sometimes frantic preparations by virtually any company that operates a website accessible there.
For Europe, the first move was easy. Officials swiftly announced plans to strike back with retaliatory measures against President Trump’s tariffs on steel and aluminum while vowing a legal challenge.
After the Pride of York ferry sailed into the Belgian port of Zeebrugge from Hull in the U.K. earlier this month, dozens of cargo containers were offloaded and whisked away on trucks. The hundreds of passengers weren’t as lucky: They had to line up for border checks.
