Australia’s central bank cuts rates, cautious on further easing. Australia’s central bank cut rates for the first time in more than four years on Tuesday but warned it was too early to declare victory over inflation and was cautious about the prospects of further easing. (Reuters)

White House denies plans to take control of Postal Service, which could lead to privatization, end service to rural customers. The Trump administration is considering steps that could give it more control over the independent US Postal Service, according to multiple published reports. It’s a move that could upend how Americans get critical deliveries including online purchases, prescription drugs, checks and vote-by-mail ballots. (CNN)

Inflation jumps on food, air fares and school fees. UK inflation jumped sharply in the year to January, driven by rising food prices, air fares and an increase in private school fees. The higher-than-expected jump to 3% from 2.5% in December, means prices rose at the fastest pace for 10 months. (BBC)

Automakers, suppliers warn of high costs and supply chain ‘chaos’ if Trump tariffs persist. Automaker and supplier executives used quarterly earnings calls and investor events to warn of higher costs, reduced new-vehicle demand, increased production volatility and renewed supply chain chaos if President Donald Trump’s proposed tariffs become a long-term reality. (Automative News)

Is India’s economy set for a strong recovery? Here’s what RBI says. India’s economy appears to be gaining momentum in the latter half of 2024-25, according to the RBI’s latest bulletin. Indicators such as vehicle sales, air travel, steel consumption, and GST E-way bills suggest that economic activity is picking up and could sustain this pace. (India Today)

While supply chain frets, Port of Los Angeles sees record January volume. Uncertainty may be sweeping the global supply chain, but it continues to power record container volumes for U.S. maritime gateways. The Port of Los Angeles reported volume of 924,245 twenty-foot equivalent units in January, up 8% y/y in what was the busiest start in the hub’s 117-year history. (Freight Waves)

Austrian parties bring liberals on board as they seek to form government. Austria’s conservative People’s Party (OVP) and Social Democrats (SPO) said on Friday they had widened their talks aimed at forming a coalition government to include the small, liberal Neos party so as to have a solid majority in parliament. (Reuters)

Irish goods exports to US surge by 34%. Ireland’s goods exports to the United States surged by 34% to €72.6bn (£60.4bn) in 2024 while its imports from the US fell slightly to €22.5bn (£18.7bn). That meant Ireland had a goods-trade surplus with the US of just over €50bn (£41.6bn), according to the data from Ireland’s Central Statistics Office (CSO). (BBC)

US-Russia summit ends in a partial victory for Moscow–and a reversal on Europe. Russia gets a small win, Ukraine gets a slight reprieve yet is still angrily outside the room and Europe is suddenly relevant again. (CNN)

Trump says auto, pharmaceutical and chip tariffs are coming. President Donald Trump said incoming automotive tariffs will “be in the neighborhood of 25%,” per remarks made during a news conference Tuesday. The president also said the same tariff rate will be levied on semiconductors and pharmaceuticals. (Supply Chain Dive)

Is cross-border e-commerce air cargo demand at risk? With cross-border e-commerce shipments accounting for more than 50% of cargo capacity from China to the U.S., prohibiting import shipments from de minimis entry would raise costs, add “time-consuming” entry requirements and create customs delays, Xeneta reported. (Supply Chain Dive)

Bank of Israel governor expects higher short-term inflation but rate cuts ‘feasible’ this year. Israel’s central bank governor on Tuesday said he sees one to two potential interest rate cuts in the second half of this year, suggesting confidence that domestic inflation will ease in the coming months. (CNBC)