World’s Best Airport Just Got Better ✈️

TRADE NEWS

Trump’s 50% Steel and Aluminium Tariffs Take Effect

The United States has now enforced the previously announced increase in tariffs on imported steel and aluminium, doubling the rate from 25% to 50%. Although the United Kingdom secured an exemption, other countries—such as Australia, Canada, Brazil, and Mexico—are now feeling the impact of these tariffs. Canada, which supplies about 56% of U.S. aluminium imports, and Brazil, which sends over 3 million metric tons of steel annually to the U.S. are among those most impacted by the tariff hike.

In the global market, the tariffs could cause a shift in trade flows as countries affected by the U.S. tariffs explore alternative markets or face pressure to negotiate new trade terms. Meanwhile, the increased shipping and insurance costs for these metals are likely to contribute to broader cost pressures across global supply chains. Overall, the tariff increase has introduced new challenges for international trade, with the potential for price adjustments and disruptions in multiple industries in the months ahead.

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VIDEO OF THE WEEK

The $8B Plan to Make the ‘World's Best Airport’ Even Bigger

Singapore’s Changi Airport has been ranked the best in the world, designed to look like a mega mall rather than a transit hub. Among the many attractions are a butterfly park, a dinosaur park and the world’s tallest indoor waterfall. Nearly 50 million travelers pass through Changi’s four terminals every year, and now the world’s best airport is getting even bigger with the addition of a fifth mega-terminal.

TRADE SNIPPETS

Israel's defense exports hit record $14.7 billion in 2024. Israel achieved a record $14.7 billion in defense exports in 2024, marking the third consecutive year of growth. Despite regional conflicts, demand surged for Israeli technology, particularly from European nations.

Tariff-driven shipping chaos sends freight rates soaring. Tariff policy reversals have triggered a "whipsaw" effect in global shipping, causing freight rates to spike. Spot rates from Asia to the U.S. surged to $6,000–$7,000 per container, with further increases expected. Port congestion and supply chain disruptions loom as carriers scramble to adjust.

Bulgaria approved to join eurozone in 2026. The European Commission and European Central Bank have approved Bulgaria's adoption of the euro, scheduled for January 1, 2026. This decision follows Bulgaria's successful meeting of all convergence criteria, including inflation control and fiscal stability. While public opinion remains divided, with only 50% support, the move is expected to enhance economic integration and investment.

Digital queueing system slashes shipping emissions. A digital queueing system at the Ports of Los Angeles and Long Beach has reduced shipping emissions by up to 24%. By assigning berthing slots based on departure times, ships avoid idling and excessive speeds, cutting fuel use and emissions. This low-cost solution was implemented in under a month.

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