The EU should stop buying Russian natural gas and other goods, Romanian Prime Minister Ion-Marcel Ciolacu has said, even though the drastic measure would cost the bloc “a bit of comfort” as a result of higher prices. Speaking to the Austrian daily Der Standard on Thursday, the Romanian leader called …
Read More »US may roll back tariffs on some Chinese goods
US President Joe Biden has instructed his administration to look into lifting some tariffs on imports from China in an effort to curb record-breaking inflation, Commerce Secretary Gina Raimondo said on Sunday in an interview with CNN. “We are looking at it. In fact, the president has asked us on …
Read More »Moscow allows foreign goods under trade embargo
Russia’s Ministry of Industry and Trade on Friday published a list of goods allowed for parallel import into the country. The mechanism, which will circumvent the Western embargo on the export of goods to Russia by importing them from third party countries, will become effective on May 6. The list …
Read More »German consumer goods giant to continue business in Russia
German chemical and consumer goods giant Henkel will continue doing business in Russia, according to the company’s Chairperson Simone Bagel-Trah. “This is sometimes viewed very critically by the public. So, it is important to me to stress we are fully applying all applicable sanctions,” she told shareholders on Monday during …
Read More »Get ready to pay more for goods as container shipping costs skyrocket
According to grill maker Traeger, the company saw an 11.7% year-over-year increase in sales in its third quarter, as it recorded $162 million in revenues. However, its gross profit margin of 33.5% represented a steep decline from 45.3% in Q3 2020. “Bringing a 40-foot container from Asia to the US …
Read More »Europe’s imports of Russian goods soar 50% in 2021 despite lingering sanctions – Eurostat
The volume of Russian exports in the reporting period increased by 48.7% compared to the same period in 2020, to $73.7 billion. Europe’s top two exporters are China with $331.6 billion worth of exports, and the United States with $169.1 billion. The volume of European exports to Russia also surged in …
Read More »Dysfunctional US economy propped up by countries supplying it with goods it can’t produce itself – Peter Schiff
According to Schiff, a vibrant healthy economy needs production “Because you cannot consume what is not first produced.” “Since our economy is so weak and we’re unable to produce the things that we’re consuming, America relies on strong international economies that are able to produce what we consume,” he said. “How …
Read More »US suspends tariffs on French luxury goods over tax on Silicon Valley tech giants
The 25 percent levy, targeting French goods such as handbags, cosmetics, and soap, was set to become effective on Wednesday. However, the US Trade Representative’s office made a last-minute U-turn, announcing on Thursday the punitive measure wouldn’t be enforced. The top trade negotiator explained that the suspension comes “in the …
Read More »Erdogan urges Turks to not buy French goods as companies brace for boycott by Muslim nations
Recep Tayyip Erdogan doubled down on his accusations against France on Monday, officially calling for a boycott of French goods. “Just like they say, ‘Don’t buy good with Turkish brands’ in France, I am calling to all my citizens from here to never help French brands or buy them,” Erdogan …
Read More »Russians warned of a likely increase in the price of delivery of goods
In Russia delivery of goods from stores could grow by half, to an average of 600 rubles, due to new Sanitary services to the population. According to the draft document that is already on the approval of the CPS, will not be allowed to carry household chemicals in cars, delivering …
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