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Global Trade & Economics: Page 33

Tariff Refunds of $35.5B Cleared for Importers So Far

As of May 11, the tool designed to handle claims on the $166 billion in duties that were overturned had validated nearly 87,000 declarations it received so far.

Image: iStock/LPETTET

Japanese Refiner Secures Mexican Oil to Bypass Hormuz Chaos

A shortage of petroleum products in Japan has affected sectors from food production to medical equipment makers.

A crude oil tanker departs the Port of Corpus Christi in Corpus Christi, Texas. Photographer: Eddie Seal/Bloomberg

Tariff-Adjusted Landed Cost as the New Sourcing Metric

The lowest-unit-cost era in sourcing is over, because unit cost alone is no longer sufficient to make a good decision.

Photo: iStock / wildpixel

Shein, Temu Trade Blows as U.K. Trial Spotlights Supply Chains

The London trial offers a rare window into supply chains of Shein and Temu, and how ultra-fast fashion competes for shared suppliers and overlapping production networks.

Photo: iStock/Kenneth Cheung

Port of Los Angeles Logs Second Busiest April on Record

April was the shipping hub's strongest month so far this year, with the port recording its highest cargo volumes since August.

Photo: iStock / viavado

Trade Court Strikes Down Trump's 10% Global Tariffs

The 10% tariff had initially been put into place by President Donald Trump in response to the U.S. Supreme Court's decision to strike down a separate set of levies.

Photo: iStock / wildpixel

Iran War Sends Supply Shocks Through Global Aluminum, Steel Markets

Roughly half of aluminum smelting capacity in the Persian Gulf region is currently offline, representing as much as 5% of the global supply.

Photo: iStock / AlexLMX

Norden Is Assuming Its Ships Will Be Stuck in Hormuz All Year

A vital artery for oil and gas flows, the Strait of Hormuz has been effectively shut since late February, with no clear path back to normal traffic.

Ships of all types were seen on the morning of April 8, clustered on either side of Hormuz, around Dubai in the Persian Gulf and Khor Fakkan in the Gulf of Oman. Image: Bloomberg

EU to Say Airlines Can Use U.S. Jet Fuel Amid Hormuz Block

Soaring fuel costs, normally the industry’s second-biggest cost after crew, have forced airlines to scrap tens of thousands of flights.

A fuel tanker containing Jet A1 aviation fuel on the tarmac at Vaclav Havel Airport in Prague. Photographer: Milan Jaros/Bloomberg

Novo Nordisk’s Ozempic India Price Cut Boosts Obesity Drug Sales

India is the first market where Novo Nordisk faces generic competition for semaglutide — the active ingredient in Ozempic and Wegovy.

Injection pens for Wegovy on display during a news conference in Mumbai. Photographer: Dhiraj Singh/Bloomberg

Whirlpool Seeing ‘Recession-Level Industry Decline’ Because of War

Although Whirlpool produces about 80% of its major appliances at American factories, the company is still being hurt by international trade turmoil.

Whirlpool Corp.’s headquarters in Benton Harbor, Mich. Photo: iStock/JHVEPhoto

Fertilizer Shortage Likely to Have Knock-On Effect on Food Supply

The Secretary General of the International Chamber of Commerce warned that the fertilizer shortage could cause deadly food scarcity and price hikes.

Photo: iStock/SolStock

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