As experts analyze the potential for economic downturns in major global economies, a plethora of recent data underscores the existing downturn in global trade. China, the world’s largest exporter, recently reported the most significant contraction in overseas shipments since the onset of the Covid-19 pandemic in February 2020. Germany, the third-largest global exporter, experienced a […]
Read MoreUPS and union representatives are scheduled to resume talks in the coming week as the threat of an impending strike looms, with less than two weeks remaining before the current deal with the Teamsters union expires on July 31. Express delivery company UPS is urging swift action to reach a resolution with the Teamsters union, […]
Read MoreFreight forwarders in the United States have been warned to prepare for potential strike action at UPS and the looming insolvency of major trucking firm Yellow Freight. The situation has raised concerns over the impact it may have on supply chains and the flow of goods across the country. Brandon Fried, the executive director of […]
Read MoreThe National Retail Federation (NRF) has released insights projecting unprecedented consumer spending on back-to-school and college items for the upcoming summer. According to the NRF’s annual survey conducted by Prosper Insights & Analytics, back-to-school spending is estimated to reach $41.5 billion this year, surpassing last year’s $36.9 billion and the previous record of $37.1 billion […]
Read MoreIn the first four months of this year, Mexico has once again solidified its position as America’s top trading partner, facilitating a staggering $263 billion worth of goods exchanged between the two nations. This robust trade with Mexico accounted for 15.4% of goods exported and imported by the US, surpassing trade totals with Canada and […]
Read MoreUS Treasury Secretary Janet Yellen’s visit to China has sparked optimism in Beijing that the Trump-era tariffs on Chinese imports could see some alleviation as she endeavors to improve relations between the two countries. However, the presence of robust anti-China sentiment within the US may pose significant obstacles to the realization of such tariff cuts. […]
Read MoreTrade activity at the Port of Long Beach (POLB) experienced a cooling trend in June as retailers worked to clear their warehouses. Last month, dockworkers and terminal operators handled a total of 597,076 twenty-foot equivalent units (TEUs), marking a significant 28.5% decline compared to the same period in the record-setting June of 2022. Notably, imports […]
Read MoreThe British Columbia Maritime Employers Association (BCMEA) is delighted to announce that after productive negotiations, a tentative agreement for a new 4-year deal has been reached, acknowledging the valuable skills and contributions of B.C.’s waterfront workforce. While the agreement is still pending ratification by both Parties, specific details will not be disclosed at this time. […]
Read MoreArtificial Intelligence (AI) is revolutionizing the retail industry through its seamless integration of automation, data analysis, and advanced machine learning algorithms. This powerful combination is elevating the customer experience, optimizing business performance, and significantly boosting profits for forward-thinking brands. As leading retailers have already embraced this cutting-edge technology to gain a competitive edge, analysts predict […]
Read MoreOn July 30, there was an unexpected announcement from American firm Bolt Threads, revealing that the production of its mycelium-based leather alternative, Mylo, had come to a halt. Mylo had emerged as one of the most promising and innovative materials in the fashion industry. Notably, renowned designer Stella McCartney collaborated with Bolt Threads to test […]
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