The report identified several emerging technologies expected to shape supply chains over the coming year, including autonomous AI software, robotics and connected data systems.

The talks will reportedly cover four areas: Rebalancing trade and investments, export controls on rare earths, intellectual property rights, and WTO reforms.

Ranges for both underlying EBITDA and EBIT were increased, topping analysts estimates, and free cash flow will also be better than previously expected, Maersk said.

Governments acting independently to build strategic reserves of critical minerals risk driving up prices, worsening shortages and increasing geopolitical tensions. 

The events of the past six months suggest that supply chain resilience is measured by how quickly companies can adapt to uncertainty while continuing to keep goods moving.

A spokesperson for the Japanese government labeled China's new export controls as "unacceptable and extremely regrettable."

The commission signed onto the declaration on June 25, weeks after it adopted sweeping legislation to strengthen Europe's supply of semiconductors and AI technology.

Data showed large declines in exports of both the volatile consumer goods category and capital goods, which in April had advanced to a record high.

The executive order targets common tariff-avoidance practices, and limits the ability of companies to qualify for customs penalty reductions, among other stricter CBP requirements.

The strategy of combining supply chain and procurement functions is relatively new, but becoming more common.