Jeffry Bartash of Market Watch reports that businesses are seeking cheaper suppliers closer to the U.S. and Mexico is quickly becoming the biggest hotspot in global trade. He writes: Clothes, iPhones and TVs made in China have long made the Asian giant the biggest supplier of foreign-made goods to American consumers. No longer. A steady increase in imports from Mexico during the past decade have made the southern border the biggest hotspot in global trade. Mexico has doubled its imports to the U.S. since 2010, and this year, it’s on track to surpass China as the nation’s biggest … [Read more...]
TikTok Intensifies Its Competition for U.S. Sales
Liz Young of The Wall Street Journal reports that the viral video platform, TikTok, has put together outsourced logistics operations as it intensifies its competition for U.S. sales. She writes: TikTok, the viral video-sharing platform, is betting heavily on logistics as it tries to turn its outsize streaming audience into a big share of the U.S. e-commerce market. The social-media app is setting up a network of warehouses and fulfillment operations, taking on nuts-and-bolts tasks such as managing inventory and delivery from the array of independent merchants that are selling goods to … [Read more...]
Will Florida Popularize Austrian Economics?
A recent Mises Institute event held in Fort Myers, Florida attracted a number of local Republican officials and additional interest from others in the area. Is it possible Florida could lead the United States in the adoption of the principles of Austrian economics? Joseph Sansone discusses the event at Mind Matters and Everything Else, writing: The Mises Institute held an event this past Saturday in Fort Myers Florida. Founded in 1982 by Llewellyn Rockwell, promotes the Austrian school of economics following the intellectual tradition of economist Ludwig von Mises, the Austrian economist the … [Read more...]
Possible 2024 Strike at U.S. East, Gulf Coast Ports
Peter Tirschwell of the S&P Journal of Commerce reports that the International Longshoremen’s Association has pledged not to extend its contract past the expiration at the end of September 2024, raising the risk of a strike in October if the union doesn’t reach a deal with employers at East and Gulf Coast ports. Tirschwell writes: The president of the union representing dockworkers on the US East and Gulf coasts on Saturday told his members to be prepared for a strike next year, raising the possibility of what would be the first major labor disruption on the coasts since … [Read more...]
Union Unrest Puts Core Apparel Supply Chains under Strain
Jon Emont and Refayet Ullah Mirdha of The Wall Street Journal report factory owners in Bangladesh are saying that for them to hike wages in a big way, Western brands that are their top buyers will need to pay more for the clothes they order. They write: Bangladesh—The armies of people who make clothes for Western brands—some of the lowest-paid factory workers in the world—are protesting for better wages, a fresh sign that the era of ultracheap labor, and ultracheap clothes, on which many companies rely is increasingly under strain. Garment workers in Bangladesh make as little as $3 a day, … [Read more...]
Swedish Unions Standing Toe to Toe with Tesla
Morgan Meaker of Wired reports that unions claim Tesla is failing to play by Swedish labor rules. Now, a strike that started with mechanics is beginning to spread. She writes: Dock workers in Sweden are threatening to block deliveries of new Teslas entering the country, in the most serious labor dispute the company has faced in Europe to date. Teslas arrive into Sweden via four ports, Malmö, Gothenburg, Trelleborg, and Södertälje, according to the Swedish Transport Workers’ Union, which represents 57,000 workers in the transport industry and has threatened the blockade. It’s planned to … [Read more...]
China Reopens Its Ports; Australia Says No Thanks
Rhiannon Hoyle of The Wall Street Journal reports that the experience of steelmaking coal exporters and some other industries targeted by China suggests the trade relationship has suffered lasting damage. She writes: When China reopened its ports to Australian steelmaking coal in January, it soon ran up against a legacy of its two-year standoff with one of its biggest trading partners: The ships mostly weren’t coming back. Australian coal exporters had to cultivate new markets on the fly after being locked out of China when its leaders reacted angrily to former Australian Prime Minister … [Read more...]
Investors Tightening Purse Strings for Supply-Chain Tech Startups
Liz Young of The Wall Street Journal writes that once-highflying supply-chain tech startups are cutting staff, diversifying their businesses as a freight downturn collides with dimming investment. Thinning investor support is also contributing to the collapse of the digital freight startup Convoy. She tells her readers: Venture-capital firms that once provided supply-chain technology startups with hefty backing at gaudy valuations have been tightening their pursestrings this year, pushing some of the businesses to slash costs, cut staff and look for other ways to survive in a weak freight … [Read more...]
A Hundred a Day to Picket
Nora Eckert of The Wall Street Journal tells her readers that in an unusual deal, automakers have agreed to pay striking workers $100 dollars a day on the picket lines. She writes: Ford Motor, General Motors, and Chrysler-parent Stellantis agreed to pay striking workers for their time on the picket lines, as part of new labor deals reached late last month with the United Auto Workers to end the union’s walkout. The move is an unusual one in the union’s history of negotiating with the car companies, according to people familiar with the talks. UAW workers who walked the picket lines … [Read more...]
Can Toys “R” Us Learn to Fly Again?
Robin Lewis of The Robin Report reports that WHP Global brand is betting on that nostalgic desire for the resurrection of the Toys "R" Us brand and is simply pacing itself. He writes: Let’s speculate about Geoffrey, the lovable giraffe-like “mascot” of the once category-killer Toys”R”Us stores. To review, the brand went public in 1978, and during the peak of its power in the 1980s, had 1450 locations globally, selling 18,000 different toys, including all of the major toy brands. Indeed, they owned a 25 percent share of the overall toy industry. Geoffrey also became somewhat of a TV star as … [Read more...]
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