GTR News Brief: Global trade left reeling by Trump’s tariffs
Long before US President Donald Trump returned to power, he promised to unleash “obnoxious tariffs” on all trading partners, and in recent days, has worked to fulfil this pledge.
Last week, he announced levies of 10% on many nations and higher tariffs on countries perceived to have a particularly unfair trade deficit with the US.
Host Felix Thompson is joined by GTR reporting colleagues, John Basquill and Isaac Hanson, to discuss the tariff rollercoaster and its impact on commodities markets.
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GTR News Brief: Trump promise of “obnoxious” tariffs signals global trade shake-up
Last week, Donald Trump claimed a convincing win over his Democratic rival Kamala Harris in the race to become the next US President, and his Republican party also retook control of the Senate.
Host Felix Thompson is joined by GTR senior reporter Jacob Atkins to discuss the President-elect's promise of "obnoxious" tariffs and how these measures are set to upend global trade.
They also consider the impact of Trump's electoral win on negotiations within the OECD Arrangement on Officially Supported Export Credits, as members prepare to discuss a proposal from the European Union to ban the export financing of oil, gas and coal supply chains.
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GTR News Brief: UK drops plans to hike capital requirements for trade finance
In recent years, banks have been closely watching to see if regulators in the EU, UK, and US would impose higher capital requirements on trade finance products like standby letters of credit and guarantees.
In a significant win for trade finance providers, the Bank of England has recently abandoned its proposal to raise capital requirements for key trade instruments. The decision came after the Bank received compelling data indicating that the original plans were overly conservative.
On the latest episode of the GTR News Brief, senior reporter Jacob Atkins discusses why the central bank took this decision and the implications for the trade finance sector.
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GTR News Brief: Energy traders face volatile future
Since late last year, Houthi rebels in Yemen have been escalating their attacks on commercial shipping routes in the Red Sea, firing Iranian designed anti-ship missiles and launching drone strikes on vessels carrying goods between Europe and Asia.
The number of container ships in the region plummeted in December, as shipping companies opted to use the much longer – and more expensive route – around the Cape of Good Hope.
Initially, and despite the growing risks, oil and gas tankers continued to use the Red Sea corridor.
But in recent weeks, this has all changed, with the number of vessels carrying crude or petroleum products having dropped to almost zero in the region, in the wake of ongoing Houthi assaults.
In today’s episode, GTR senior reporter, John Basquill, provides an update on the Red Sea crisis and explains the potential ramifications, both direct and indirect, for the commodities trading sector.
Host Felix Thompson is joined by senior reporters John Basquill and Eleanor Wragg, as well as reporters Jacob Atkins and Jenny Messenger, to discuss some of the most-read articles on the GTR news site this year.
Insurance-related court disputes, the impact of Basel requirements on the trade finance industry, efforts to ban fossil fuel support within the OECD Arrangement on Officially Supported Export Credits and the demise of yet another digital trade consortia, all feature in our 2023 review.
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