International Trade and World Market
Korean Solar Company Plans to Build $2.5 Billion Plant in Georgia
Under the legislation, businesses receive a tax credit at every stage of the supply chain. The act includes an estimated $30 billion in production tax credits to accelerate manufacturing of solar panels, wind turbines, batteries and for the processing of critical minerals. The law also offers an investment tax credit to companies that build factories […]
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Prime Minister Liz Truss Pivots From Queen’s Funeral to U.K.’s Crises
LONDON — The flowers have been cleared. Union Jacks no longer fly at half-staff. Ads have replaced Queen Elizabeth II’s image on bus shelters. A day after burying their revered monarch, Britons returned to normal life on Tuesday to confront a torrent of pressing problems they had set aside in 10 days of mourning. Hours […]
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Biden Administration’s Bid to Cap Russia Oil Prices Faces Resistance
WASHINGTON — The Biden administration’s push to form an international buyers’ cartel to cap the price of Russian oil is facing resistance amid private sector concerns that it cannot be reliably enforced, posing a challenge for the U.S.-led effort to drain President Vladimir V. Putin’s war chest and stabilize global energy prices. The price cap […]
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Ukraine Grain Ship Passes Russia’s Black Sea Blockade
MYKOLAIV, Ukraine — A ship loaded with corn on Monday became the first cargo vessel to sail from Ukraine in more than five months of war, passing through Russia’s naval blockade of Ukraine’s Black Sea ports and raising hopes that desperately needed food will soon reach nations afflicted by shortages and soaring prices. The ship’s […]
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As Congress Debated Landmark China Bill, Beijing Surged Ahead
In the weeks before the House and the Senate ended 13 months of arguments and passed the $280 billion CHIPS and Science Act, China’s main, state-supported chip maker cleared a major technological hurdle that delivered a bit of a shock to the world. Experts are still assessing how China apparently leapfrogged ahead in its effort […]
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Senate Passes $280 Billion Industrial Policy Bill to Counter China
WASHINGTON — The Senate on Wednesday passed an expansive $280 billion bill aimed at building up America’s manufacturing and technological edge to counter China, embracing in an overwhelming bipartisan vote the most significant government intervention in industrial policy in decades. The legislation reflected a remarkable and rare consensus in a polarized Congress in favor of […]
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Russia Strikes Odesa Port, Stirring Doubts on Deal to Export Grain
ODESA, Ukraine — A string of explosions rocked Ukraine’s southern city of Odesa on Saturday, hitting one of the country’s most important ports less than 24 hours after Russia and Ukraine signed a deal to secure the transit of millions of tons of grain through Black Sea routes. The strikes raised concerns about Russia’s commitment […]
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Truckers’ Protests Over Labor Law Block Access to Oakland’s Port
For days, a convoy of truckers has blocked the roads that serve the Port of Oakland, crippling a major West Coast cargo hub already hampered by global supply chain disruptions. The protest is meant to send a message to Gov. Gavin Newsom: Keep the drivers clear of a California labor law that they say threatens […]
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Economy Is at Risk of Recession by a Force Hiding in Plain Sight
This past week brought home the magnitude of the overlapping crises assailing the global economy, intensifying fears of recession, job losses, hunger and a plunge on stock markets. At the root of this torment is a force so elemental that it has almost ceased to warrant mention — the pandemic. That force is far from […]
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