The U.S.-Mexico-Canada Agreement (USMCA) enters its mandated six-year review on 1 July. The original intent of the review is outlined in Article 34.7, which obligates members to:
Provide recommendations and decide on appropriate actions. Extend the USMCA for another 16 years and meet again for another review in six years. If the USMCA members do not agree to extend it for another 16 years, the members will then review the agreement annually.
Given the Trump Administration’s aggressive trade policy, we should not expect the review to be a routine assessment. Instead, the July review will likely become a renegotiation of several important trade issues. Furthermore, Trump has on several occasions indicated that withdrawal from th...
What You Need to Know Today: Iran has developed an initial draft plan that would prohibit U.S. and Israeli ships from transiting the Strait of Hormuz, increasing concerns over potential disruptions to global energy trade. Although no restrictions have been enacted, the proposal adds anot...
Key Takeaways: Global freight markets are mixed this week with Capesize and Panamax vessel seeing strong performance, primarily on iron ore demand and U.S. Gulf and ECSA grain demand. Handysize and, to a lesser extent, Supramax vessels are trading lower as charterers focus on larger vess...
Wool is one of the most misunderstood U.S. agricultural commodities. Fine wool in the 17–21 micron range commands premium prices in luxury apparel, technical outdoor gear, and high-end knitwear, while coarser wool is gaining support as building codes and standards shift toward natural-fib...
