Will the Omicron Variant Dampen Economic Recovery?

Businesses and consumers are watching closely as the highly contagious Omicron variant raises new questions about economic recovery. Will the new variant force shutdowns like seen in the early days of the pandemic? Will Omicron feed the inflation fire or cool things off instead? "These mutations keep coming," Robin Brooks, chief economist at the In...
Continue reading
0
  2330 Hits
  0 Comments
Tags:
nacmblog
Tweet
2330 Hits
0 Comments

Report Shows Steady Growth for Global Trade Finance from 2021-2026

After experiencing moderate growth from 2015-2020, the global trade finance market is projected to grow by 3.7% from 2021-2026, according to IMARC's latest report, Trade Finance Market Size: Global Industry Trends, Share, Growth, Opportunity and Forecast 2021-2026. This prediction may change as the pandemic continues to be tracked and evaluated as ...
Continue reading
0
  2003 Hits
  0 Comments
Tags:
nacmblog
Tweet
2003 Hits
0 Comments

U.S. Congress Raises Debt Ceiling, Avoiding Default Until 2023

The House and Senate voted this morning to increase the federal debt ceiling by $2.5 trillion, allowing the U.S. government to avoid default until early 2023, according to government officials. The vote was made just hours before the deadline that the U.S. government risked breaching its debt limit, said Treasury Secretary Janet Yellen.Th...
Continue reading
0
  1603 Hits
  0 Comments
Tags:
nacmblog
Tweet
1603 Hits
0 Comments

Bankruptcy Filings Show Declines Across All Chapters from October to November 2021

New bankruptcy filings across all chapters declined by 5.6% in November from the previous month, according to Epiq's November 2021 bankruptcy filing statistics from its AACER bankruptcy information services business.The total for new commercial filings across all chapters also decreased by 10.3% from October to November. For 2021 through November, ...
Continue reading
0
  1796 Hits
  0 Comments
Tags:
nacmblog
Tweet
1796 Hits
0 Comments

Federal Reserve Plans to Ramp Up Fight Against Inflation

Concerns are growing over lingering inflation, prompting the Federal Reserve to consider speeding up its plan to raise interest rates. Federal Reserve officials plan to discuss stopping their bond-buying stimulus program early during a policy meeting next week, according to The Wall Street Journal. Ending the program in March instead of June would ...
Continue reading
0
  1671 Hits
  0 Comments
Tags:
nacmblog
Tweet
1671 Hits
0 Comments

Omicron Variant Could Drive Inflation Even Higher

Stocks took a major hit yesterday as fears over the recently discovered Omicron coronavirus variant brewed. Federal Reserve Chair Jerome Powell also shared before Senate that he no longer believes inflation is "transitory," noting new factors—like Omicron—could mean high inflation will stick around well into next year.Growing concerns abo...
Continue reading
0
  3011 Hits
  0 Comments
Tags:
nacmblog
Tweet
3011 Hits
0 Comments

Global Standard for Classifying Goods to Change Come January

Another factor will soon further complicate the global supply chain crisis and international trade—new harmonized system numbers (known as HS codes). HS codes are the global standard for classifying goods in international trade. Starting Jan. 1, more than 350 global HS codes will be updates and roughly 1,500 U.S. tariff codes will also be chan...
Continue reading
0
  1749 Hits
  0 Comments
Tags:
nacmblog
Tweet
1749 Hits
0 Comments

Survey Finds Suppliers May See a Rise in Pricing While Manufacturers Expect a Rise in Sales

Material suppliers are expecting costs to rise over the next year, according to Construction Products Association (CPA) recent State of Trade survey for Q3. Data shows that cost pressures are expanding from raw materials to fuel, energy, wages and salaries.This expansion is likely due to the rise in global gas, electricity and crude oil prices—alon...
Continue reading
0
  1721 Hits
  0 Comments
Tags:
nacmblog
Tweet
1721 Hits
0 Comments

U.S. and Japan Plan to Form Trade Partnership

The U.S. and Japan set the foundation of a trade partnership today, agreeing to work toward resolving tariffs on steel and aluminum imports. U.S. Trade Representative Katharine Tai and Japan's trade and industry minister also agreed to cooperate toward a "common global-agenda" for trade, according to ABC News."This Partnership will deepen the ...
Continue reading
0
  1829 Hits
  0 Comments
Tags:
nacmblog
Tweet
1829 Hits
0 Comments

US Inflation Hits 31-Year High in October

Container ships located at the ports of Los Angeles and Long Beach, CA, are averaging a 17-day wait time, according to a Bloomberg report. As of November 12, 83 ships remain either at anchor or in a holding zone, compared to the previous high of 81 from earlier that week."We are trying to add capacity by searching for vacant land to store container...
Continue reading
0
  1908 Hits
  0 Comments
Tags:
nacmblog
Tweet
1908 Hits
0 Comments

White House to Speed Up Infrastructure Upgrades Amid Supply Chain Crisis, Inflation

President Joe Biden announced Tuesday plans to determine and pay for needed upgrades to U.S. ports over the next 90 days, according to the Associated Press. This comes as supply chain disruptions continue to overwhelm major ports across the country and drive inflation. U.S. port authorities will be allowed to reallocate leftover money originally me...
Continue reading
0
  3088 Hits
  0 Comments
Tags:
nacmblog
Tweet
3088 Hits
0 Comments

House Passes $1.2 Trillion Infrastructure Bill

Congress passed the much-awaited infrastructure bill on Friday, which includes $550 billion in spending for new infrastructure and $110 billion for improvements to roads and bridges. Overall, the $1.2-trillion package is about $1.1 trillion less than President Joe Biden's March proposal, known as the American Jobs Plan.It also includes funds for tr...
Continue reading
0
  2127 Hits
  0 Comments
Tags:
nacmblog
Tweet
2127 Hits
0 Comments

U.S. Service Sector Hits Record High in October, Manufacturing Continues to Grow

The U.S. service sector grew to a record high in October, the fourth time in 2021, and the manufacturing sector also continued to rise for the 17th consecutive month, according to reports released Wednesday from the Institute of Supply Management (ISM).ISM's survey of the service industry reached a reading of 66.7, up 4.8 points from September...
Continue reading
0
  3774 Hits
  0 Comments
Tags:
nacmblog
Tweet
3774 Hits
0 Comments

US-EU Reach Agreement to Ease Tariffs on Steel, Aluminum Products

The U.S. and EU have reached an agreement to lift U.S. tariffs on some steel and aluminum products coming from Europe, beginning Dec.1, the White House announced Sunday. This agreement sets a threshold for the amount of steel and aluminum coming from the EU before being subject to tariffs.In return, the EU states that it will remove its retaliatory...
Continue reading
0
  2052 Hits
  0 Comments
Tags:
nacmblog
Tweet
2052 Hits
0 Comments

G7 Finds Common Ground with Digital Trade and Data Sharing

During a meeting between the Group of Seven wealthy nations (G7) on Friday, a consensus was reached on a set of principles to govern cross-border data use and digital trade. The deal is considered to be a breakthrough as it could free up hundreds of billions of dollars of international commerce. "The deal sets out a middle ground between highly reg...
Continue reading
0
  2527 Hits
  0 Comments
Tags:
nacmblog
Tweet
2527 Hits
0 Comments

US Pushes China to Adopt Trade Reform, Tensions Rise

 The United States accused China of unfair trade practices today during the World Trade Organization (WTO) review, saying the country's industrial policies "skew the playing field" against imported goods and services."We also cannot ignore reports of China's use of forced labor in several sectors," U.S. charge d'affaires David Bisbee told the ...
Continue reading
0
  2346 Hits
  0 Comments
Tags:
nacmblog
Tweet
2346 Hits
0 Comments

Global Trade Rebound Is Strong but Unequal, WTO Say

 The World Trade Organization (WTO) updated its economic forecast for 2021-22 with a more positive outlook for global trade. The WTO now predicts trade will grow 10.8% this year, up from the 8% forecasted in March.However, while overall recovery is strong, many developing regions remain far behind partly due to the lack of vaccine access. "The...
Continue reading
0
  2045 Hits
  0 Comments
Tags:
nacmblog
Tweet
2045 Hits
0 Comments

US-Vietnam Agreement to Keep Supply Chain Free of Illegal Timber

 U.S. Trade Representative Katherine Tai announced an agreement with the Socialist Republic of Vietnam that addresses U.S. concerns in the Vietnam Timber Section 301 investigation. This is the first 301 investigation to address environmental concerns. (Section 301 of the Trade Act of 1974 (19 U.S.C. §2411) grants the Office of the United State...
Continue reading
0
  2204 Hits
  0 Comments
Tags:
nacmblog
Tweet
2204 Hits
0 Comments

U.S. Products Could Face New EU Tariffs If Metal Dispute Is Not Resolved

The European Union warned that only one month is left to resolve a metals dispute with the U.S., otherwise new EU tariffs will hit American products starting Dec. 1.An agreement must happen by the beginning of November in order to avoid consequences, said EU trade commissioner, Valdis Dombrovskis, on Bloomberg Television. "We are now working very i...
Continue reading
0
  2076 Hits
  0 Comments
Tags:
nacmblog
Tweet
2076 Hits
0 Comments

Will High Food Prices Lead to Civil Unrest?

 Wholesale food prices like wheat, sugar and vegetable oil have increased by roughly 33% globally since last year, according to the UN's Food and Agriculture Organization. But in some countries, the rising cost of food might be a tipping point – resulting in protests and even war, said Ida Rudolfsen, doctoral researcher at Uppsala University a...
Continue reading
0
  3153 Hits
  0 Comments
Tags:
nacmblog
Tweet
3153 Hits
0 Comments
       
3 4 5 6 7 8 9 10 11 12