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Duties, Markets, Trump: Italy Stock Exchange News

by Lucas Fernandez – World Editor
written by Lucas Fernandez – World Editor

European Markets Show Modest Gains Amid Trade Uncertainty

European stock markets opened with a generally positive sentiment, with Milan’s FTSE MIB index showing a slight rise. The benchmark index was trading at 39,971 points, up 0.51%.

This modest uptick occurs against a backdrop of significant market concerns. Investors are closely monitoring potential shifts in U.S. commercial policies, particularly the possibility of new tariffs.Specifically, there is apprehension regarding the implementation of 30% duties on European Union goods, which could take effect as early as August 1st.

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Business

Latin America Inventory Surge: Preparing for Trade War Risks

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

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Latin American Firms Stockpile Inventory Amid US-China Trade War Fears

Table of Contents

Companies across Latin america, particularly in Brazil, Mexico, Argentina, and Colombia, are proactively increasing their inventories in anticipation of potential disruptions stemming from the ongoing trade tensions between the United States and China. This preemptive measure aims to mitigate the impact of possible new tariffs and global economic uncertainties, as businesses brace for a possibly volatile trade landscape.

The rush to stockpile goods reflects a broader strategy to safeguard supply chains and maintain operational stability amidst global economic headwinds. Ports are experiencing congestion reminiscent of the post-pandemic period, further incentivizing companies to act swiftly.

Inventory Surge Driven by Trade War Uncertainty

Alejandro Arroyo Welbers,Director of Programs in International Trade and Regional Economies of the Universidad Austral in Argentina,noted that companies are “launching to import everything they can” within the current 90-day window before potential tariff increases take effect. This urgency is compounded by memories of supply chain disruptions experienced during the COVID-19 pandemic, prompting businesses to prioritize inventory levels.

Did You No? …

The Drewry container index, a key indicator of global freight prices, recently surged by 41% to $3,527 per 40-foot container, underscoring the rising costs associated with international shipping.

This proactive approach is not without its challenges. Increased demand is straining logistics infrastructure, leading to higher freight prices and potential delays. The global Drewry container index has already seen a meaningful increase, reflecting the growing pressure on shipping capacity.

Country-Specific Strategies

Mexico: Leveraging T-MEC

Mexico has partially shielded itself from tariff impacts through the T-MEC trade agreement with the US and canada. However, sectors like automotive, steel, and aluminum, particularly those outside the agreement’s scope, remain vulnerable. Companies are strategically advancing exports and importing key inputs to mitigate potential tariff adjustments.

According to Mexico’s National Institute of Statistics and Geography (INEGI),exports increased by 4.5% in the first four months of 2025, while imports grew marginally by 0.6%,primarily driven by oil purchases.

Brazil: Adapting to Shifting Trade Flows

Brazil, Latin America’s largest economy, faces significant uncertainty in purchase decisions, pricing strategies, and industry planning due to the trade war. Government data from Comexstats reveals a 12.2% decrease in exports to China between January and April 2025, totaling $28.5 billion. Conversely,sales to the united States increased by 3.7%, reaching $13.1 billion, boosted by agricultural goods.

ricardo Alban, president of the National Confederation of the Brazilian Industry (CNI), emphasized that the effects of trade deviations between China and the US are still unfolding, and the scenario remains subject to rapid changes.

Argentina: Increased Reliance on Chinese imports

While Brazil remains Argentina’s primary trading partner, the country has been increasing its imports from China amidst the trade war.Imports from China grew by 77.3% in the first quarter of 2025 compared to the same period in 2024, according to the Argentine Chamber of Commerce (CAC). This growth spans consumer goods and capital goods, reflecting China’s growing influence in Latin America.

The CAC also noted that economic growth, a stronger local currency, and the easing of trade restrictions have contributed to the increase in imports from China and other countries.

Colombia: Anticipating the Christmas Season

In Colombia, companies are anticipating the Christmas season by increasing orders during the 90-day tariff pause, according to javier Díaz, president of Analdex. This proactive approach aims to avoid potential high tariffs if no trade agreement is reached after the pause.

Last March, imports in Colombia totaled $5,543.1 million CIF (including cost, insurance, and freight), a 16.5% increase compared to March 2024.

Logistical Challenges and Rising Costs

The surge in import activity is placing significant strain on logistics infrastructure across Latin America. ports are congested, freight prices are rising, and delays are becoming more frequent. In air transport, capacity is expected to be a challenge in 2025, driven by e-commerce growth and direct-to-consumer models, while delays persist in aircraft deliveries.

Land transport also faces challenges, with logistics and multimodal infrastructure deficiencies contributing to high costs, potentially reaching 22% of product value, considerably above the OECD average of 8%, according to the National Association of Foreign Trade of Colombia (Analdex).

Pro Tip: Companies should diversify their supply chains and explore alternative sourcing options to mitigate risks associated with the US-China trade war.

Inventory Levels Decline in Mexico

According to the logistics consultant MTM Logix, internal consumption in Mexico has remained relatively stable, but some business sectors have experienced inventory breaks due to commercial shocks. This is attributed to increased uncertainty, new rates, and higher costs for importing key supplies, particularly from Asia.

Mario Verraldo, CEO of MTM Logix, noted that the average inventory of companies in Mexico has fallen from 60 days to 45 days. Additionally, container freight rates on the China-Mexico route have risen to around $3,000, compared to an average of $1,600 at the beginning of the year.

Key Economic Indicators
Country Export Change to China (Jan-Apr 2025) Export Change to US (Jan-Apr 2025) Import Change from China (Q1 2025)
Brazil -12.2% +3.7% N/A
Argentina N/A N/A +77.3%
Mexico N/A +4.5% (Overall Export Increase) N/A
Colombia N/A N/A N/A

The DHL Trade Atlas 2025 report indicates that world trade has been surprisingly resilient despite recent disruptions and is expected to grow at an annual rate of 3.1% between 2024 and 2029,driven by Asia,despite tariff measures.

What strategies are Latin American businesses employing to navigate the complexities of the US-China trade war? How can governments in the region support businesses in mitigating the impact of these global trade tensions?

Evergreen Insights: Understanding the US-China Trade War

The US-China trade war is an ongoing economic conflict between the United States and China. It began in 2018 when then-President Donald Trump imposed tariffs on Chinese goods, with China retaliating in kind. the conflict has as escalated, impacting global trade flows and supply chains. the core issues revolve around trade imbalances, intellectual property rights, and market access.

The Peterson Institute for International Economics offers in-depth analysis and data on the trade war’s impact on various sectors and economies. Peterson Institute for International Economics

Historically, trade wars have often led to economic slowdowns and increased uncertainty. The current US-China trade war is no exception, with businesses and consumers feeling the effects of higher prices and disrupted supply chains. The long-term consequences remain uncertain, but the conflict has already reshaped global trade patterns and accelerated the

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Business

Rio Tinto alumina exports in Australia

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Prices of alumina, the main raw material for making aluminum, have risen this year due to supply interruptions in Guinea, Brazil and Australia.

Reuters.- Rio Tinto has lifted force majeure measures imposed on third-party contracts for the export of alumina from its Gladstone, Australia, refineries, a company spokesperson said.

Prices of alumina, the main raw material for manufacturing aluminum, have risen this year due to supply interruptions in Guinea, one of the main exporters of this raw material, Brazil and Australia.

Rio Tinto did not specify when the force majeure measure, declared in May due to the restriction of gas capacity levels in its operations, was lifted.

The miner said in its third-quarter production results that Gladstone operations were expected to return to normal levels by the end of 2024. Its third-quarter alumina production fell 7% year-on-year.

Alumina prices have risen 68% since the beginning of the year, to 5,564 yuan ($767) per metric ton, adding pressure on aluminum producers.

However, new bauxite-to-alumina capacity, due to come online next year, is expected to ease tensions.

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Business

Five unidentified Soviet cars with a diesel engine

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

Soviet diesel cars: five rare models you won’t see on the roads

Experts have compiled the TOP 5 little-known cars with diesel engines that were produced in the Soviet Union, but which not everyone knows.

Photo: unsplash.com by John-Mark Kuznietsov, PDM

The first place was taken by Moskvich-407. This car was created especially for export and was named Scaldia 1400 Diesel. Interestingly, it was collected by the Belgian company Scaldia Volga, which was the official dealer of Soviet cars in Europe.

In second place are the legendary GAZ-21 and GAZ-22. These cars were also produced through a Belgian company. They had a powerful engine developing 65 horsepower, which was an amazing figure at the time.

The third position was taken by the UAZ-469 SUV, which was also exported and was not accessible to Soviet drivers. All copies were shipped to foreign markets.

Fourth place went to a VAZ-2104 with a VAZ-341 diesel engine. The power of this unit was 53 horsepower, and the engine capacity was 1.5 liters.

And the top five is completed by a special version of the VAZ-21215, which was also used for export.

Clarity

A vehicle – a motorized, untracked, on-road and/or off-road vehicle, usually autonomous, used to transport people and/or goods, usually with at least four wheels.

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2024-10-10 00:20:00
#unidentified #Soviet #cars #diesel #engine

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Business

Chilean José Luis Daza joined as deputy minister of Luis Caputo and would be appointed this week

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

zzzznacp2ARGENTINE NEWS BAIRES, JUNE 14: Photograph of Chilean economist José Luis Daza who will replace the Vice Minister of Economy, Joaquín Cottani, who will resign at the end of the month. Photo NAzzzz

The economist Jose Luis Daza He began working in recent days at the Ministry of Economy, where he will be the deputy minister of Luis Caputoa formal designation that would be made official this week, according to official sources.

In this way, the head of the Treasury continues the formation of his work team, which in recent weeks had the arrival of the former executive director of IDEA as a novelty. Daniel Gonzalez as coordinating secretary for Energy and Mining. The Economy cabinet will be completed with another coordinating secretary for Infrastructure in the hands of Martín Maccarone.

Daza will replace in his position Joaquin Cottaniwho left his post at the end of June. Born in Buenos Aires but of Chilean nationality, He is a long-time Wall Street executive, where he shared duties with Luis Caputo at Deutsche Bank and JP Morgan. In the latter position he was head of Emerging Markets.

In addition to being an economist, he is a man of the market: he was one of the founders in 2007 of the investment fund QFR Capital Management together with Demián Reidelthe head of the president’s council of economic advisers Javier Mileyalready David Sekiguchi, Kristen Boyle and other investors.

Daza has already begun working at the Ministry of Economy, although his formal appointment will take place this week. Caputo had already added two coordinating secretaries to complete his cabinet.

Daza, 65, graduated as an economist at the University of Chile and as a doctor in Economics from the Georgetown University, in Washington. In the public sphere, he was the representative of the Central Bank of Chile in Asia, based in Tokyo. His name sounded like candidate for the position of Minister of Economy of Chile during the 2021 election campaign if the far-right candidate had won José Antonio Kastwith whom he maintains political ties.

According to sources from the Ministry of Economy, Daza has already begun his duties as Caputo’s second in command at the Ministry of Finance and his appointment will be made official this week. In the coming weeks, the minister will have, as part of his economic program, a key negotiation with the International Monetary Fund for a new agreement that includes financing, an event that would take place closer to October.

Daniel González, seated to the left of Javier Milei, already works as the coordinating secretary of Energy and Mining at the Ministry of Economy

Caputo will also officially appoint in the coming days the executive director of IDEA and former CEO of YPF, Daniel Gonzalez, as Deputy Coordinating Minister from the areas of Energy and Mining. “González will be the coordinating deputy minister of energy and mining. Eduardo Rodriguez Chirillo He remains as Secretary of Energy. He is an excellent addition and very complementary to Chirillo and Lucero. [por Luis Lucero, secretario de Minería]”, official sources explained.

The executive, a member for three years of the top brass of IDEA – the CEO organisation that organises the traditional Colloquium every year and acts as a business entity that prepares proposals for all governments in different areas of the economy – will have particular influence over the energy and mining area for his career in the sector.

In the coming weeks, the minister will have a key negotiation with the International Monetary Fund for a new agreement as part of his economic program.

González has a degree in Business Administration from the Catholic University of Argentina (UCA). He joined YPF in 2012 after the company was nationalized and held various positions. He was the firm’s CFO for years and later served as interim CEO. Before joining the oil company, he worked at Merrill Lynch/Bank of America in Buenos Aires and New York.

Meanwhile, Martín Maccarone, who will be the coordinator of the areas of Infrastructureis a long-standing businessman in the construction sector. “He will be in charge of everything related to infrastructure, public works, transportation and housing. He has been in the ministry since last week, but has not yet been officially announced,” reported the Nation.

Maccarone graduated in industrial engineering from ITBA University and obtained a Master’s degree in Corporate Finance from the University of CEMA. Since 2001 and until now, he has served as director of Coinsa Construcciones SA

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From parmesan to pecorino, the Chinese war on cheese is terrifying – News – Ansa.it

by Chief editor of world-today-news.com
written by Chief editor of world-today-news.com

There is a risk that the cheese war will explode on the Beijing-Brussels axis. And the consequences of throwing another war over obligations could be paid ​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​​fronts worth paying for by exporting many products to China that represent the excellence of Made in Italy: from parmesan to pecorino romano, from fontina to buffalo mozzarella, passing through gorgonzola, exports to China of the ‘milk and derivatives’ sector are growing strongly from a value that in 2023 was just over 80 million.

The Asian giant confirmed that an investigation has been launched into the subsidies that are responsible for the import of dairy products from the European Union, saying that it was the Dragon business that requested intervention. Beijing’s offensive, in particular, aims to find out if the subsidies given by 20 European states (including Italy) comply with the rules of the World Trade Organization. In Brussels they have no doubts: it is a real revenge for the duties on Chinese electric cars: “We will do everything to protect the European agricultural sector”, the warning that comes from the Commission EU, where they ensure that these subsidies. in Europe in full compliance with international and WTO rules.

In Beijing, however, they don’t think so, and a big hit in the export of cheese and dairy products to China is happening not only throughout our country, but also especially over on Austria, Belgium and Ireland. The industry minister, Adolfo Urso, tries to avoid tension: “Regarding the commercial retaliation measures announced by China on European cheeses, in response to the measures of the European Commission – he said from the meeting in Rimini – I believe that there is still time, in the coming weeks, to work together on a negotiated solution aimed at sharing these measures to restore fair competition conditions where cases of violation according to WTO rules were determined”. “Because the market must be free but fair – said the minister – and fairness is based on equal conditions”.

At the same time, not only Coldiretti raises the alarm, but also the Coalition for the Protection of Grana Padano, that buffalo mozzarella DOP and Roman pecorino. “The trade war on electric cars between the EU and China – warns Coldiretti – threatens the growth of exports of cheeses in Italy to China, which recorded in the first five months of 2024 an increase of 35% compared to the same period. Last year.” The association complains that “Italian food is becoming a bargaining chip in the political and economic disputes that have broken out in other regions and which, as happened in the past gone, at risk of affecting the export of Italian agricultural food to the Asian country which is worth 590 million euros”.

“If China imposes duties on cheeses coming from the European Union, we will definitely be punished,” says Stefano Berni, general director of the Coalition for the Protection of Grana Padano: “Despite the fact that we have not reached levels in – trade of our product in large quantities – he said – However, China is a market that is growing a lot. ” The head of the Coalition for the Protection of Campania DOP buffalo mozzarella, Pier Maria Saccani, speaks of “bad branding” and of “instrumental use of excellent cheeses in disputes that do not concern the region”, also affirming how China is “a market with great potential.” “As usual, the producers always pay”, complains the president of the Consortium for the protection of Pecorino Romano Dop, Gianni Maoddi, who remembers that the region is still paying for the Russian embargo: “Everyone is taking it out on Europe, however -trade suffers the consequences.”

In 2023, imports of dairy products from the European Union into China would be worth 1 billion and 700 million euros, equivalent to 36 percent of the total. Only New Zealand has a larger share. Italy, with more than 4,000 tons, is in sixth place among the countries that export dairy products to China, with a share of 3.3% of the total cheese imported from the Dragon. In the first 4 months of 2024, in particular, Italian milk exports to China reached 30.5 million euros, with +20.5%, and Italian agricultural food exports reached 194 million with +26.0%.

2024-08-22 19:22:00
#parmesan #pecorino #Chinese #war #cheese #terrifying #News #Ansa.it

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