Beijing increased its tariffs on U.S. imports to 125% on Friday, hitting back against U.S. President Donald Trump's decision to hike duties on Chinese goods and raising the stakes in a trade war that threatens to up-end global supply chains.China's retaliation intensified the economic turmoil unleashed by Trump's tariffs
Amazon.com and IKEA, in alliance with about three dozen other companies that depend on ocean freight, will invite shipping firms for the first time to bid on a contract in January to move their cargo on vessels powered by near-zero emissions e-fuels like e-methanol.The group known as the Zero Emissions Maritime Buyers Alliance wants to use the combined clout of its members
The European Union will pause its first countermeasures against U.S. tariffs after President Donald Trump temporarily lowered the hefty duties he had just imposed on dozens of countries, European Commission chief Ursula von der Leyen said on Thursday.The bloc was due to launch counter-tariffs on about 21 billion euros ($23.25 billion) of U.S.