World's Wheat Heavyweights Are Exporting Grain at Just a Trickle
Russian shipments in July, when sales usually boom as harvests roll in, are set to drop by 30% from a year earlier, according to an estimate from consultancy IKAR. Ukraine is only exporting at about a third of 2024's pace, and the European Union is also shipping less.
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Yahoo
10 minutes ago
- Yahoo
On eve of US tariffs, Brazilian beef exports hit record high in July
By Roberto Samora and Ana Mano SAO PAULO (Reuters) -Exports of fresh beef from Brazil reached a record 276,900 metric tons in July, according to trade data on Wednesday, showing a steep rise before a hefty U.S. tariff applied on sales from the world's biggest exporter. July shipments exceeded those of the same month last year by nearly 17%, surpassing the previous monthly record from October 2024, when 270,300 tons of beef were shipped, the data showed. Some 12% of Brazil's beef shipments go the United States, its second most important importer after China. Other key markets for Brazil include Mexico and the Middle East. Brazilian exporter Astra, which sells 5% of its production to the U.S. from Parana state, said the company sent cargo this week to avoid the new duty, which is valid from today. Astra ships beef to practically every port in the United States. "We don't know what will happen," Diogo Oliveira, Astra's export coordinator, said in an interview. "My U.S. volume, although small, was consistent. And from September onward, I don't know if we'll have more business." Brazil's beef sales have steadily grown this year, with strong demand from major importers. In the first half, Brazil sent 181,400 tons of beef to the U.S. alone, which faces a persistent cattle shortage, and another 631,800 tons to the Chinese market. (By Roberto SamoraWriting by Ana Mano; Editing by Aurora Ellis) Sign in to access your portfolio
New York Times
13 minutes ago
- New York Times
Thursday Briefing: Trump Threatens to Double India's Tariffs
Trump ratcheted up tariffs on India to 50 percent President Trump signed an order yesterday that would double tariffs on India to 50 percent as punishment for the country's purchase of Russian oil. The new 25 percent tariff, which will be added to the 25 percent tariff Trump announced last week, will take effect on Aug. 27 if India doesn't stop buying Russian oil. Trump also threatened to impose similar penalties on other countries that buy Russian energy, as a way to pressure the Kremlin into ending the war with Ukraine. India's foreign ministry called the move 'extremely unfortunate' and reiterated that it was importing oil from Russia to meet the energy needs of its 1.4 billion people. India is the second-largest importer of Russian oil after China; Turkey is another major oil customer. Here's what to know about India's oil trade with Russia. Analysis: Trump had been expected to bolster trade with India as a counterweight to China. Now, Trump has all but declared economic war against India, writes Alex Travelli, who covers the Indian economy. Trump intends to meet with Zelensky and Putin Trump told European leaders during a call yesterday that he intends to sit down with President Vladimir Putin of Russia as soon as next week. He then aims to meet with both Putin and the Ukrainian president, Volodymyr Zelensky, according to two people familiar with Trump's plan. It was not immediately clear whether Putin or Zelensky had agreed to the joint meeting. Zelensky said in a statement that he had a conversation with Trump and that he and Europe's leaders agreed that the war in Ukraine 'must end,' but that it must be 'an honest end.' Trump's announcement came after his envoy, Steve Witkoff, met with Putin. Russian news agencies reported that the talks in the Kremlin lasted about three hours. Trump has been stymied for months in his efforts to negotiate a peace agreement between Russia and Ukraine after more than three years of war. Related: Thousands of Ukrainians now struggle with the trauma of severe facial injuries, but the country's doctors have made strides with 3-D printing in facial reconstruction. China turns to A.I. in information warfare The Chinese government is using companies with expertise in artificial intelligence to monitor and manipulate public opinion in Hong Kong and Taiwan, according to current and former U.S. officials and documents. Internal documents from the Chinese company GoLaxy show how Beijing had undertaken influence campaigns in Hong Kong and Taiwan, and collected data on members of the U.S. Congress and other influential Americans. Experts said that using A.I. in this way could result in far more sophisticated influence operations than those in the past. GoLaxy denied that it had done any work related to Hong Kong or other elections and said its products were mainly based on open-source data, and did not specifically target U.S. officials. After being contacted by The Times, GoLaxy began altering its website, removing references to its national security work on behalf of the Chinese government. Israel: Prime Minister Benjamin Netanyahu plans to convene his security cabinet today to discuss expanding Israel's military campaign into the rest of Gaza. Pakistan: A video of an honor killing has gone viral, forcing the authorities to confront gender violence. Sudan: The Rapid Support Forces paramilitary group is battling for gains in the Kordofan region after being driven out of central Khartoum. Syria: A cease-fire has taken hold in Sweida after a wave of violence between the Bedouins and Druse, but the atmosphere remains tense. 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World renowned: Some of London's blockbuster Indian restaurants are coming to the U.S. Home on the range: Buy a Wyoming ranch four times the size of New York City for $79.5 million. A Pacifist nation not entirely at peace Hiroshima has a Peace Boulevard, a Peace Bell and a Peace Memorial Park. The city and the rest of Japan were rebuilt with pacifism at their core after the American atomic bombings of Hiroshima and Nagasaki in 1945. But 80 years after the world's only nuclear attacks, Japan is not entirely at peace. Ultranationalist politicians are pushing for a more militaristic Japan in a world cleaved by conflict, and many younger Japanese are in favor. Here's more on why public opinion is changing, and watch this video of my colleague Hannah Beech explaining the shift. Cook: This chile crisp fried rice is vegan and packed with protein. Read: The memoir 'Tart' celebrates, and mocks, the London restaurant world. Watch: These are the best movies and TV shows coming to Netflix. Listen: Check out this playlist of eight early rap songs. Travel: Here's how to make a work trip with family work. Play: Spelling Bee, the Mini Crossword, Wordle and Sudoku. Find all our games here. That's it for today. See you tomorrow. — Dan. We welcome your feedback. Send us your suggestions at briefing@
Bloomberg
41 minutes ago
- Bloomberg
What's a ‘Secondary Tariff' Like the One Trump Imposed on India?
In his second term as US president, Donald Trump has used tariffs as a blanket solution to pursue a wide range of goals: increasing domestic manufacturing and foreign market access, boosting federal revenue, and even punishing the government of Brazil for prosecuting his political ally, former President Jair Bolsonaro. Now he's deployed a tool he calls a 'secondary tariff' in an effort to get countries to distance themselves from US adversaries. On Aug. 6, Trump announced that such a tariff on imports from India would take effect in 21 days. On top of an existing 25% levy on goods from India, he added an additional 25% tariff to penalize India for buying oil from Russia.
