The number of days containers are waiting to be picked up by trucks at California’s neighboring ports of Los Angeles and Long Beach climbed to a record in October, just before officials announced a new plan to clamp down on the backlog in collections.
Coffee snobs have a lot to worry about right now. A global shortage of beans is already threatening to push up prices at cafes and supermarkets. Now, your morning cappuccino or latte might start leaving a bitter taste for other reasons too.
Asia’s largest ports are showing signs that congestion is easing ahead of the holiday season, a potentially positive step for key trade gateways in the U.S. that are still battling an influx of imports.
FedEx is forecasting a 10% increase in holiday package deliveries over a previous record peak season in 2020 as consumers remain hooked on internet shopping even as stores reopen from last year’s lockdowns.
The world is facing a new era of rapidly increasing food prices that could push almost 2 billion more people into hunger in a worst-case climate crisis. Confronting the dire predictions, farmers have begun to adapt.
American consumers are showing little sign of returning yet to their normal balance of spending on services over goods, with a heavy reliance on imported products, according to two indicators based on shipping data.
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.
California will increase weight limits for trucks carrying goods in and out of its ports in an effort to ease supply chain bottlenecks and clear containers off the docks of Los Angeles and Long Beach.
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.