As of March 29th 2024, China’s Commerce Ministry has abolished heavy tariffs, including anti-dumping and countervailing duties, on Australian wine. Tumultuous Tariffs Bilateral relations became further strained between China and Australia, when the former imposed trade barriers on Australian wine amounting up to $20 billion from 2020-21. This decision worsened the already ongoing China-Australian trade … China Lifts Australian Wine Tariffs
A more personal, and exciting development follows Fortune’s first attendance of the Premier Cargo Alliance Ltd (PCA) Conference in Dubai. What is the PCA? The PCA is a global logistics network based in Canada. They present independent freight forwarders the opportunity to meet and work alongside one another in order to promote mutual growth and … Fortune Attends the Annual PCA Event
On a scale rivalling the aftermath of COVID-19, the ongoing conflict in the Red Sea has wrecked havoc on global trade and shipping. Consequently, shipping industries have had no choice but to divert vessels away from the region in order to mitigate risks. i. Where is the Red Sea and Why is it Important? The … Muddying the Red Sea/The Red Sea Crisis
Panama Canal anticipates full capacity by early 2025 as it slowly recovers from drought. Shipping restrictions will continue to lift over the coming months, relieving pressure on the global supply chain. Connecting the Atlantic and Pacific oceans, the Panama Canal accounts for around 5-6% of global maritime trade. The recent combination of El Niño, exacerbated … Panama Canal’s Ongoing Drought
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