U.S. Business Group says Trump China tariffs cost $1.4 billion/month

A coalition of U.S. business groups fighting President Donald Trump’s trade tariffs has launched an advertisement aimed at telling voters ahead of the midterm elections that the measures are costing American businesses and consumers $1.4 billion a month. The group says that in Michigan, a state with several competitive elections this fall, tariff costs tripled
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The Commerce Ministry has reportedly formed a 12-member high-level advisory group that would suggest ways to promote the country’s international trade, it is understood. The panel, headed by the Prime Minister’s Economic Advisory Council (PMEAC) part-time member Mr Surjit Bhalla, would look at areas like exchange rate management, impact of trade wars and strategy to
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South Korea’s third largest conglomerate SK Group is moving to shed its shipping business SK Shipping Co. amid worsening financial conditions of the unit and the government’s regulations on intra-affiliate transactions by large business groups. SK Holdings Co., the holding entity of SK Group, is reportedly seeking to sell a majority of its stake in
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BW Group’s first LR2 tankers will be delivered from the first quarter of next year even as the sector is facing challenges due to poor earnings, its CEO Andreas Sohmen-Pao said. The group already has a combined total of more than 40 LR1 and MR product tankers and last year placed an order for six
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Wilhelmsen has partnered with Ivaldi Group to deploy an additive manufacturing facility in the Wilhelmsen Ships Service’ facilities in Singapore. The local micro factory capable of on-demand production provides 3D printed parts to select partners as part of their early adopters program in a port that sees more than 100 vessel visits a day. “Looking
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TAIPEI: Evergreen Group celebrated its 50th Anniversary recently at the Chang Yung-Fa Foundation, home of the charity set-up by Evergreen Group Founder and Chairman Dr. Y.F. Chang. In addition to Senior Executives and employees of the Group’s businesses, the event was also attended by public officials, customers and business agents from both the shipping and
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Nippon Yusen Kaisha (NYK) and Mitsubishi Logistics Corporation (MLC) have agreed to form a joint holding company with the investment ratio of NYK 51 per cent : MLC 49 per cent, to integrate the management of the four NYK Group terminal operation companies in Japan, and merge UNI-X Corporation (UNI-X) and Nippon Container Terminals Co.,
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Mitsui O.S.K. Lines (MOL) has announced that it completed the acquisition of 14.27 per cent shares in PKT Logistics Group Sdn. Bhd. (PKT), a leading Malaysian logistics company. MOL’s stake will rise from the current 20.86 per cent to 35.13 per cent. PKT provides end-to-end logistics solutions comprising freight forwarding, Customs brokerage, contract logistics, haulage,
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Aegean Marine Petroleum Network Inc. (NYSE:ANW) (“Aegean” or the “Company”) announced that Mercuria Energy Group Limited, together with its affiliates (“Mercuria”), became the sole lender under the Company’s U.S. and global revolving credit facilities (the “Trade Finance Facility”), as contemplated by the previously announced Memorandum of Understanding (“MOU”). Mercuria and the Company have executed a
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MUMBAI: Transformation, In perpetuity, remains at the core of heart of Mr. Ramesh S. Ramakrishnan, Chairman and Mr. Ritesh Ramakrishnan, Joint Managing Director of Transworld Group, who are currently leading the legacy of four decades old company that aims to constantly redefine the logistics industry by continually seeking out new avenues of service excellence in
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