The World Trade Organization (WTO) has found that tariffs on steel and aluminum imports that were imposed by the U.S. under former President Donald Trump violate global trade rules.
Trump had claimed national security concerns when he announced the new border taxes in 2018, sparking a wave of trade fights around the world.
BBC News reports that the WTO rebuffed that argument, saying the duties did not come "at a time of war or other emergency." The U.S. said it stood by the tariffs.
The U.S. "strongly rejects" the ruling and has no intention of removing the measures, assistant U.S. trade representative Adam Hodge said.
The Port of Felixstowe, Britain’s busiest container port, said that over 90% of its workers had agreed to accept a pay deal that would lift wages 8.5% in 2023.
The port, owned by a unit of CK Hutchison Holdings Ltd., will also pay workers a £1,000 ($1,230) bonus in the deal that is effective January 1, 2023, a spokesman for the port said in an email.
Workers at Felixstowe were among the first groups to strike in the summer over wages. Industrial action has subsequently spread into walkouts by postal workers, railway employees and even nurses and ambulance staff as wages fail to keep pace with the soaring cost of living.
Felixstowe said that this was the earliest it had concluded an agreement on the annual pay review.
China’s Ministry of Commerce said Monday it had filed a complaint against the U.S. at the World Trade Organization in response to new controls from Washington on semiconductor trade with China, describing the action as a response to trade protectionism.
Beijing will use the WTO’s dispute settlement mechanism to challenge U.S. export controls on products such as chips to China to defend its rights and interests, its Ministry of Commerce said in a statement posted to its website. The ministry said it was responding to a media question in making the announcement.
The Belgian Port of Antwerp-Zeebrugge and Japan's Port of Nagoya signed a renewed cooperation agreement to further expand their trade relations and deepen their collaboration.
The agreement was signed on 7 December, while the Port of Antwerp-Bruges is participating in the princely economic mission to Japan this week.
Turkey’s growing maritime industry is set to take a bigger role in the development of professional shipbroking standards following its admittance to the Institute of Chartered Shipbrokers (ICS) governing body.
The London-headquartered ICS provides globally recognised professional qualifications for brokers, agents and managers. It becomes the 27th branch member of the 111-year-old organisation.
The market is far from saturated and growth prospects remain strong, with the ongoing labor shortage providing a continual stimulus for warehouses to automate any operations they can. Demand for mobile robots from the manufacturing sector is less consistent, with some major manufacturers remaining cautious with their spending plans due to volatile demand for their products. This insight will look at long- and short-term trends in the mobile robot market. It will also take a look at the growth trajectory and some regional and industry-specific factors.
The Port of Savannah will transform its breakbulk terminal into an all-container operation as the port contends with rising volumes.
Georgia Ports Authority said in a statement last Tuesday that it will renovate and realign the docks at the port’s 200-acre Ocean Terminal to better accommodate container operations. Renovations are set to start in January 2023 with completion expected in 2026.
Delegates to the first day of the IMO’s Marine Environment Protection Committee arrived this morning at the UN agency’s London headquarters to be met by protestors as the week-long sessions began. MEPC 79 looks to address the pressing issues on the environment with several environmental organizations reporting hopeful signs ahead of the session which is set to lay the groundwork for more action in 2023.