Brendan Murray

2 days ago | news.bloombergtax.com | Brendan Murray

Spot container rates to move goods to the US West Coast from China rose by the most in more than a nine years over the past week, as a rebound in demand during a fragile tariff truce outstrips shipping capacity to move cargo between the world’s largest economies. The cost for a 40-foot container from Shanghai to Los Angeles surged 57% from the prior week to $5,876, according to the Drewry World Container Index posted Thursday. It was the sharpest spike in percentage terms since January 2016.

2 days ago | news.bloomberglaw.com | Brendan Murray

Spot container rates to move goods to the US West Coast from China rose by the most in more than a nine years over the past week, as a rebound in demand during a fragile tariff truce outstrips shipping capacity to move cargo between the world’s largest economies. The cost for a 40-foot container from Shanghai to Los Angeles surged 57% from the prior week to $5,876, according to the Drewry World Container Index posted Thursday. It was the sharpest spike in percentage terms since January 2016.

3 days ago | bloomberg.com | Brendan Murray

President Donald Trump’s doubling of US tariffs on steel and aluminum imports to 50% is fanning trade tensions at a time when Washington is negotiating with several economies that also face his so-called “reciprocal” duties set to kick in July 9. In Europe, the fallout Wednesday was quickly heard in a warning from Voestalpine, an Austrian steelmaker that missed profit expectations for the past fiscal year because of soft economic activity in Europe.

1 week ago | news.bloombergtax.com | Brendan Murray

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1 week ago | bloomberg.com | Brendan Murray

The newest and bluntest weapon in President Donald Trump’s trade negotiator playbook is illegal, a court ruled late Wednesday. Announced on April 2, the authority Trump used to justify his so-called reciprocal tariffs — threatened on major US trading partners — didn’t withstand a challenge at the US Court of International Trade. A three-judge panel declared that the Trump administration had wrongly invoked the 1977 IEEPA law in imposing his “Liberation Day” tariffs.