To date, 12 shipping companies, in addition to numerous corporates, have suspended activities in the Red Sea, instead choosing to reroute their journeys around the Cape of Good Hope in South Africa.
Despite expectations for a slight increase in the trade deficit, it narrowed to $63.2 billion, a decrease from the revised figure of $64.5 billion in October, according to the United States Commerce Department.
The European Union is considering extending its current truce with the US concerning steel and aluminium trade. This move could circumvent ongoing stagnant talks and prevent the re-imposition of tariffs… read more →
The Biden administration has temporarily paused discussions on crucial aspects of the digital trade segment within its Indo-Pacific Economic Framework (IPEF) initiative, as stated by Democratic legislators on Tuesday. This… read more →
A New York man with Ghanaian connections who engineered a trade-based money laundering (TBML) scheme to transfer illicit gains from online scams has been sentenced to 14 months in prison and ordered to pay $532,738 in restitution to 11 victims.
On Tuesday, the International Monetary Fund (IMF) unveiled its most recent World Economic Outlook, adjusting its US growth forecast upwards while anticipating a slower rate of expansion for the euro… read more →
The US trade deficit contracted to $58.3 billion in August, marking its lowest level since late 2020, according to data released by the Commerce Department on Thursday. This represents a… read more →
The United States Federal Open Market Committee unanimously agreed to maintain the current interest rates, concluding their latest monetary policy meeting today. This decision was fully in line with market… read more →
The United States, Saudi Arabia, India, and additional countries are in discussions about a potential infrastructure agreement that could reshape trade relations between the Gulf and South Asia. The proposal… read more →
Today, the OECD released their International Trade Statistics report for Q2 2023. The report offers an insight into the global trade landscape, highlighting significant shifts and trends. With a decline in G20 merchandise trade and a marked slowdown in services trade, the report paints a complex picture of international commerce.
