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High Drama and Big Impact: Trump’s Bold Tariff Plans and What to Expect

Expect significant new tariffs on Chinese imports and moderate levies on goods from other nations , as President-elect Donald Trump rolls out his protectionist agenda. However, with his preference for chaotic policymaking and sudden shifts , there’s uncertainty on how soon these import taxes will actually hit. Dubbed “ Tariff Man ,” Trump aims to use tariffs both strategically and tactically . He’s mentioned taxing all Chinese goods up to 60% and potentially setting 10%-20% tariffs on imports globally , but details on these plans remain vague . Key players within Trump’s team are divided: Robert Lighthizer , a staunch tariff advocate, sees permanent duties as crucial to balance US trade , while others, like billionaires John Paulson and Scott Bessent , view tariffs as temporary leverage. Trump’s previous administration had mixed feelings, especially on national security-related trade limits , which he sometimes dismissed, favoring an “open for business” approach. High-profile busin

China’s Cosco Shipping and Fortescue Partner to Build Green Fuel Supply Chain

 

China’s Cosco Shipping Corp has entered into a preliminary agreement with Australia’s Fortescue Metals Group to develop a green fuel supply chain aimed at reducing pollution in the shipping industry, the Chinese company announced on Monday.

Key Takeaways:

  • Green Fuel Collaboration: The memorandum of understanding between Cosco Shipping and Fortescue includes the exploration of constructing and deploying green ammonia-fueled vessels. These vessels will be used to transport iron ore and other minerals, significantly cutting carbon emissions in the China-Australia iron ore green shipping corridor.

  • Commitment to Sustainability: "We are committed to increasing cooperation with global partners to actively promote the green and sustainable development in the shipping industry throughout its life cycle," stated Cosco Shipping, headquartered in Shanghai, via its WeChat account.

  • Decarbonization Goals: Fortescue, known as the world’s fourth-largest iron ore supplier and an integrated green technology, energy, and metals company, emphasized the importance of this cooperation. "The cooperation marks another big step in decarbonizing the shipping industry ... These solutions will be integral to achieving our net zero Scope 3 emission target by 2040," Fortescue said.

  • Recent Developments: Fortescue's executives have been in China recently, engaging with potential partners for joint projects. On July 25, CEO Dino Otranto highlighted these discussions.

  • Innovative Trials: Earlier this year, Fortescue conducted the world’s first trial using ammonia as a shipping fuel in the port of Singapore, demonstrating its commitment to pioneering green fuel technologies.

This partnership between Cosco Shipping and Fortescue represents a significant move towards reducing the environmental impact of the shipping industry and advancing green technology in global logistics.

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