Trump to Lay Out Trade Vision but Won't Impose New Tariffs Yet

President-elect Donald Trump is planning to issue a broad memorandum Monday that directs federal agencies to study trade policies and evaluate U.S. trade relationships with China and America's continental neighbors -- but stops short of imposing new tariffs on his first day in office, as many trading partners feared.

The presidential memo directs federal agencies to investigate and remedy persistent trade deficits and address unfair trade and currency policies by other nations, two longstanding Trump irritants. And it singles out China, Canada and Mexico for scrutiny, directing agencies...

China Announces 2025 Tariff Increases on Key Seafood Imports

China’s State Council announced adjustments for tariff rates in 2025, with some of the adjustments leading to rate increases for key imported seafood items like shrimp, whitefish and abalone.

Some key seafood items will see increased tariff rates from 2% to 5% in 2025. Specifically, the tax rate for frozen shrimp will see a 3% tariff jump, along with frozen Arctic shrimp, while fresh abalone will jump from 7% to 10%.

EU SME Centre highlighted the following species with increased tariffs (all impacted items are frozen product): Greenland halibut, flounder...

The Retail Rundown:  Port Strike Sends Shockwaves Throughout Supply Chain 

The strike at East and Gulf Coast ports officially began once the calendar turned to October, following unsuccessful contract negotiations between the International Longshoremen’s Association (ILA) and the United States Maritime Alliance (USMX).

The strike's impact is being felt throughout the supply chain, causing significant disruptions in the flow of goods ahead of the rapidly approaching holiday season. 

In a statement released on Tuesday, USMX stated that its current offer includes a nearly 50% wage increase. In response, ILA said it has rejected USX's offer "because it fails to address...

Russian Crab Industry Struggles with Investment Pressures Amid Falling Demand and Export Limits

Quotas for Kamchatka crab in the Barents Sea will be sold at a reduced price at the end of November, as the planned auctions for the sale of quotas for catching crab in the Northern Basin, which was scheduled for November 13, will not take place due to the lack of applications.

According to the documentation on the Russian Auction House (RAD) website, the latest auctions failed because not a single application was received for participation.

The Federal Agency for Fisheries (Rosrybolovstvo) was organizing the auctions...

Hurricane Helene Intensifies U.S. Agriculture Disruptions As Port Strike Officially Starts

Hurricane Helene, a powerful Category 4 storm, made landfall in Florida's Big Bend region on September 26, 2024. The storm caused widespread destruction across the southeastern U.S., with the death toll approaching 125 as of this writing. 

Its damaging winds, storm surge, and flooding led to power outages and infrastructure damage in Florida, Georgia, Tennessee, and the Carolinas–with the Carolinas seemingly suffering the greatest impacts. Parts of North Carolina are submerged under water, where roads have been washed out and properties have been flattened. As of October 1...