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ADVERTISEMENTUS President Donald Trump posted on Truth Social that he would sign an executive order imposing 25% tariffs on countries that purchase Venezuelan oil and gas, effective from 2 April. He referred to this date as “Liberation Day in America”, as his long-threatened reciprocal tariffs are also set to take effect. The move is widely viewed as a political manoeuvre designed to put pressure on Venezuelan President Nicolás Maduro, as well as China, the largest importer of Venezuelan crude.Oil prices surged following the announcement, with WTI futures at NYMEX climbing 1.22% to $69.11 per barrel, while Brent futures at ICE…

  President Donald Trump’s plans to impose tariffs on China as well as countries with significant trade deficits with the US, plus his proposal to levy large fees on Chinese vessels docking at US ports threaten upheaval for major business sectors in America, as well as trading partners around the globe. Trump has said his administration will unveil reciprocal tariffs on April 2, especially nations hailed by Treasury Secretary Scott Bessent as the “dirty nine,” which includes long-term allies such as South Korea. This proposal has led to intense debate on tariffs and trade restrictions in multiple countries across the…

  There appear to be problems with President Donald Trump’s plan to revive US shipbuilding by imposing large fees on China-linked ships that carry cargo to American ports. Trump’s plan to charge Chinese vessels a fee of about $1.5 million is looking uncertain because exporters are struggling to find US-built or US-flagged ships to send goods abroad. And that is causing US coal inventories to swell and stoking uncertainty in the embattled agriculture market, according to a report by Reuters.   ALSO SEE: April 2 Set as Date for Unveiling of Trump’s Reciprocal Tariffs   Trump is drafting an executive order…

  China has sent a delegation to Panama after the Trump Administration’s push to take greater control of the canal and ports at either end owned by a Hong Kong conglomerate. Chinese state media have fiercely criticized a $23-billion deal last week by CK Hutchison to sell the two Panama ports and 41 others in 22 additional countries to US investment giant BlackRock. Beijing hopes to “understand what is unfolding” and possibly reverse Panama’s decision to withdraw from its much-touted Belt and Road scheme and retain control of the Panama ports, according to a report by the South China Morning…

  Vietnamese leaders have scrambled to sign some big deals with the United States in a bid to reduce their trade imbalance with the US and the likelihood of punishing tariffs from the Trump administration. Firms from Vietnam signed a series of energy and mineral agreements with American companies during a visit to the United States by Vietnam’s trade minister, according to state media and one of the firms on Friday. Vietnamese companies are in talks to buy American crude oil and LNG, said state-controlled PetroVietnam Power, which is a signatory to one of the deals and has executives accompanying…

ADVERTISEMENTThe Public Investment Fund (PIF), Saudi Arabia’s sovereign wealth fund, is set to pay $3.5 billion (€3.2 billion) to buy the gaming division of Niantic. The San Francisco-based software development company is best known for its mobile games Pokémon Go and Monster Hunter Now. Pokémon Go is one of the world’s most popular mobile games. Launched in 2016, the augmented reality game was developed in collaboration with The Pokémon Company and Nintendo. Its usership peaked at 232 million active monthly players in 2016 and is currently at around 30 million monthly players. “I won’t say that Pokémon Go will remain…

LEGACY Supply Chain Services News & Resources Page 1 of 10 pages. Outsourcing eCommerce Fulfillment to a 3PL December 20, 2023 To excel in the swiftly-moving sphere of eCommerce fulfillment, it is essential to establish a robust infrastructure that encompasses people, processes, and systems. This infrastructure should be flexible enough to cater to the varying demands of your business and your customers. However, building a dependable infrastructure can prove to be a challenging task. This is the reason why several merchants opt for the assistance of third-party logistics (3PL) providers. Warehouse Contingency Planning Template May 26, 2023 We’ve taken the…

  Chris Wright, the new US Energy Secretary, addressed a gathering in Washington of energy ministers and tech founders from Africa last Friday and encouraged them to use whatever energy sources they want, according to a report by the New York Times. Curious about ways to help 600 million citizens who have little access to power, amid confusion over US policy changes – “including the termination of Power Africa, a major initiative that had supported them for a decade,” Wright gave an impassioned speech that downplayed concerns about climate change, it said. “We’ve had years of Western countries shamelessly saying don’t…

  Analysts say China’s decision to impose tariffs on farm and food products from Canada is a bid to prevent the tariff war started by US President Donald Trump from widening. Beijing announced tariffs worth over $2.6 billion on Canadian agricultural and food products on Saturday after Ottawa introduced levies in October. The move opens a new front in a trade war started by Trump. The levies, announced by the commerce ministry and scheduled to take effect on March 20, match the 100% and 25% import duties Canada slapped on China-made electric vehicles and steel and aluminium products four months…

ADVERTISEMENTIt is still unclear how much US president Donald Trump hopes to gain though the deal he is negotiating with Volodymyr Zelenskyy, but the basic idea is clear.“I think it’s going to be great for Ukraine – we’re going to be at the site, and we’ll be digging,” he told reporters on the eve on the eve of the Ukrainian president’s visit. “We’ll be dig, dig, digging.”And Washington is not the only centre of power with eyes on Ukraine’s vast and largely untapped mineral wealth.As Euronews reported last April, access to rare earth metals and other elements essential to digital…