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Canada retaliates against US with tariffs of up to 50% as trade war escalates
MarketsIndustry news

Canada retaliates against US with tariffs of up to 50% as trade war escalates

Why it matters: With trucks carrying more than half the value of U.S.-Canada freight, escalating tariffs threaten to disrupt cross-border volumes, manufacturing supply chains and carrier demand along major gateways such as Detroit, Port Huron and Buffalo. Canada announced retaliatory tariffs of up to 50% on billions of dollars of U.S. goods Tuesday, escalating a trade dispute between the two countries after negotiations collapsed over the weekend. Canadian Finance Minister François-Philippe Champagne said Ottawa will impose “dollar-for-dollar” counter-tariffs on about $27.6 billion worth of U.

Editorial Desk

New return: Another container line is back in the Red Sea
Shipping & LogisticsIndustry news

New return: Another container line is back in the Red Sea

While unfounded fears of higher tariffs helped drive what amounted to unexpected demand by anxious shippers this summer, other assorted geopolitical intrigue is keeping the container market on edge. Asia-U.S. West Coast prices increased 1% to $6,826 per forty foot equivalent unit (FEU), according to the latest Baltic Index from SONAR data contributor Freightos. Asia-U.S. East Coast prices were 2% higher, at $9,576 per FEU. Events that could pressure container traffic on the trans-Pacific are being closely watched. The United States is trying to tighten economic sanctions on countries doing bus

Editorial Desk

Singapore hits back at US claims of ‘shadow transhipment’
Shipping & LogisticsIndustry news

Singapore hits back at US claims of ‘shadow transhipment’

Following US allegations that Singapore is part of a “shadow transhipment network” used by Chinese exporters to circumvent tariffs, its prime minister, Lawrence Wong (pictured), said it would be “unrealistic” to expect the city-state to determine the movement and origin of every consignment passing through its port. . At the National Day rally, Mr Wong hit back at the White House report naming Singapore among more than 40 countries allegedly involved ... The post Singapore hits back at US claims of ‘shadow transhipment’ appeared first on The Loadstar .

Editorial Desk

US-Canada supply chains face uncertainty as trade talks collapse
MarketsIndustry news

US-Canada supply chains face uncertainty as trade talks collapse

U.S.-Canada trade negotiations collapsed just hours before a deadline to avert steep new tariffs, sending the two countries into an escalating trade dispute that could ripple through trucking, automotive manufacturing and cross-border supply chains. The United States imposed 50% tariffs on billions of dollars of Canadian goods beginning at 12:01 a.m. ET Saturday after negotiators failed to reach an agreement Friday. The affected imports include products ranging from cement and dairy products to hockey sticks and other goods. Canada is the second-largest trading partner of the United States, be

Editorial Desk