Retailers are likely to oppose the action, arguing that the added costs would eventually have to be passed on to consumers.

The Turkish government has been negotiating with a group controlled by Abu Dhabi sovereign wealth fund since 2023.

Cargo handlers at the Port of Los Angeles moved a total of 924,245 containers in January, an 8% increase over the same period last year.

The firings come at a critical time for air safety, with a number of high-profile crashes already this year. 

The alert from shipping companies comes as the IMO hosts an event in London this week to debate measures to reduce the sector’s carbon footprint. 

Trump has highlighted tariffs as a tool that he says will convince companies to move production to the U.S.

Chancellor Rachel Reeves is already trying to revive a stagnating U.K. economy while meeting her own rule that government spending must be paid for out of tax revenues.

U.S. aviation safety regulators significantly stepped up their oversight of Boeing after a door-sized panel blew off an airborne 737 Max in January 2024.

Brazilian steelmakers said they expect the governments to reach an agreement similar to the one from Trump’s first term.

Top executives from the world’s biggest shipping companies have cautioned that any return to the Red Sea is likely to be slow given the volatility of tensions in the Middle East.