Latest news with #globalcommerce
Bloomberg
4 days ago
- Business
- Bloomberg
Trade Court Battle Upends Trump Tariff Plan, Clouding Economic Outlook
I'm Cécile Daurat, manager of the US economy team. Today we're looking at the economic implications of the legal fight over tariffs. Send us feedback and tips to ecodaily@ And if you aren't yet signed up to receive this newsletter, you can do so here. A legal fight over US tariffs adds another layer of uncertainty for global commerce, as the Trump administration continues to pursue its protectionist trade policy.
Yahoo
19-05-2025
- Business
- Yahoo
PayPal brings Complete Payments Platform to Singapore
PayPal has extended its Complete Payments platform to all businesses in Singapore, providing a full-stack payments solution to facilitate global commerce for small and medium businesses (SMBs) as well as large enterprises. This expansion allows merchants to accept payments from over 200 markets with a single integration that can be customised to their needs. The service includes a range of payment options, such as PayPal, Apple Pay, Google Pay, American Express, Visa, and Mastercard, along with alternative methods such as Alipay, iDEAL, and BLIK. According to PayPal, merchants utilising Complete Payments could see an average increase of 4.7 percentage points in card processing authorisation rates. The inclusion of PayPal Wallet and Apple Pay is also associated with a potential increase of 17% in checkout conversions. Additionally, it features display of prices in local currencies, presenting costs in a familiar format for customers. The service aims to optimise business cash flow by allowing 'rapid' settlement of transactions and the option to hold balances in multiple currencies, reducing foreign exchange volatility. PayPal Complete Payments also allows eligible businesses to offer to store their payment methods in the PayPal vault and provides real-time account updates to refresh card details as necessary. To help maintain security, PayPal Complete Payments includes Fraud Protection and Seller Protection for eligible transactions. The service is compatible with several e-commerce platforms, including Adobe Commerce, Big Commerce, and WooCommerce. PayPal Asia Pacific general manager and international cross border trade senior vice president Nadia Syed said: 'PayPal Complete Payments will give businesses here access to an extensive suite of new tools which will help them sell more effectively to global customers, in just one integration. 'Our latest product for businesses in Singapore is designed to help businesses boost customer conversion, drive revenue growth, and streamline operations—all while enhancing fraud protection, improving cost efficiencies, and simplifying cross-border transactions.' Last week, PayPal partnered with AI startup Perplexity to integrate agentic commerce into the Perplexity Pro platform. "PayPal brings Complete Payments Platform to Singapore " was originally created and published by Electronic Payments International, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Forbes
16-05-2025
- Business
- Forbes
The Rented Economy Of Supply Chains: Why Ownership Is An Illusion
Shekar Natarajan is the founder and CEO of getty In the world of global commerce, we like to tell ourselves a comforting story: that we "own" our supply chains. But ownership is a myth. The truth is, we rent our supply chains—and the rent is going up. When I first took on leadership of the supply chain at a large retail clothing chain, I was welcomed with a bold statement: "Shekar, you own the supply chain." It sounded impressive. But when I started asking questions, the reality unraveled fast. We did not own the mills in India where yarn was spun. We did not own the factories across Asia where garments were stitched. We did not own the ships, the ports, the de-consolidators or even most of the distribution centers. The infrastructure we relied on belonged to someone else. All we really owned was a sliver of space in the middle—a few distribution centers and some contracts. Everything else was a handshake, a lease, a rented connection. This is not just true for retailers. Even the biggest players, such as Walmart, the world's largest retailer, rent the majority of their supply chain. Sure, they own some trucks, but the goods, the labor, the warehouses, the last mile capacity? Rented. And when you rent, you are exposed. Your whole supply chain is only as strong as your weakest link. Supply chains today are no longer neat pipelines. They are messy, fragmented webs, disconnected in time and space. What happened at a mill in Bangladesh three months ago can ripple into a retail shortage in Boston today. This "butterfly effect" is not rare. It is the operating system of modern supply chains. Today's supply chain leaders must shift from static planning to dynamic execution, from ownership illusions to ecosystem influence. You do not "command" a supply chain. You guide it. You shape incentives, anticipate friction and adapt as reality shifts beneath your feet. Forget trying to control your way out of volatility; think orchestration instead. AI is not a luxury here. It is the brain that makes orchestration possible. AI-powered agent networks can forecast disruption before it hits, reroute freight in real time, renegotiate contracts on the fly and rebalance inventory to buffer against cascading failures. Traditional dashboards just tell you what has already gone wrong. AI makes decisions before the damage is done. Imagine a decentralized nervous system—one that senses, learns and adapts without waiting for headquarters to issue a command. That is the future of supply chains. Not controlled from the center, but intelligently orchestrated from the edge. In a rented economy, resilience is no longer a "nice to have." It is the baseline for survival. And the key to resilience is optionality. Optionality means having multiple carriers, backup suppliers, alternate ports and diversified routes, even if it costs more upfront. It is like buying insurance against the unknown. One micro-disruption—a flood in Gujarat, a customs delay in Mexico, a fuel spike in Singapore—can trigger millions in lost sales if you have no alternatives. Yes, optionality adds cost. But the cost of not having it is higher. Leaders need to stop measuring supply chain success by how much they shaved off per unit moved. They need to measure it by how much they saved when the unexpected hit. Optionality is not redundancy. It is agility. It is the ability to pivot when the world does what it always does—change. Building optionality starts with mapping your dependencies. Digitizing your contracts. Creating smart contracts that can flex in real time, and building partnerships, not just transactions. All the while layering in AI-driven decision engines that optimize choices on the fly, factoring in cost, risk and time. Supply chains were built for a world that no longer exists—a world where the pipes were straight and the flows were predictable. But today's flows are nonlinear. The pipes bend, clog and burst without warning. Resilience comes from being able to bend with them. The global supply chain is a rented house. You do not control the foundation. You do not own the walls. What you own is how well you furnish it, how quickly you can adapt when a leak springs and how smartly you can pivot when the landlord raises the rent. Building a truly orchestrated supply chain starts with decentralizing intelligence. Not central command centers barking orders, but smart nodes—ports, warehouses, carriers—feeding real-time insights into an adaptive system. It means embracing digital twins that model not just the physical flow of goods but the causal relationships between events, so you can predict where a disruption today will become a crisis tomorrow. It also means designing agent networks that coordinate thousands of micro-decisions every day without waiting for human intervention, while recognizing that humans are the angels that make the system work. We are entering a world where agility will outplay scale—where orchestration will outlast ownership. The companies that win will not be the ones with the biggest supply chains, but the ones with the smartest, most adaptable ones. The rent is rising. The butterflies are already flapping their wings. It is time to stop pretending we own the chain. We own the strategy. And the future belongs to those who can orchestrate it. Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?
Reuters
14-05-2025
- Business
- Reuters
Breakingviews - US Congress will be reluctant trade war spoiler
WASHINGTON, May 14 (Reuters Breakingviews) - Donald Trump may have temporarily paused his trade war with China and other countries. But the extreme economic uncertainty unleashed by the president's tariffs still raises the question of what, if anything, can stop his assault on global commerce. The White House has relied on an expansive interpretation of existing laws to impose a dizzying array of levies on trade partners around the world. If risky legal challenges and faltering negotiations fail to bear fruit, Congress could reclaim its primacy over trade – but only if the economic and political costs become too large to ignore. Under the U.S. Constitution's Commerce Clause, the legislative branch has jurisdiction over foreign and domestic trade. Congress must approve treaties, including trade deals, while also determining tax policy, of which tariffs are a part. Over the past century, however, the legislature delegated more of that authority to executive bodies with technical expertise, like the U.S. Trade Representative and the Department of Commerce, relegating itself to an advice-and-consent relationship with the president. Until recently, it was easy to ignore how power had shifted from the Constitution's intent. But Trump's overreach has become more obvious, prompting a reaction. The most direct domestic challenge to the president so far has come through the courts. At least six lawsuits, opens new tab have been filed in federal courts challenging the Trump tariffs. The plaintiffs are small businesses, Democratic state attorneys general, and a Native American tribe. The lawsuits target the legal authorities underpinning Trump's 10% across-the-board tariff on nearly all goods imports, which the White House attributes, opens new tab to the 1977 International Emergency Economic Powers Act. No previous president has used the law to justify tariffs. Indeed, the word 'tariff' does not appear as a remedy the president may use to address 'unusual and extraordinary threats' to national security, opens new tab or the U.S. economy. The plaintiffs argue that a 'persistent trade deficit,' the reason the administration gives for imposing the tariffs, hardly constitute a rare situation or a particularly dangerous threat that warrants an emergency response. A hearing for one of the cases took place in federal trade court on Tuesday. It's hard to see the U.S. Supreme Court, which will be the ultimate arbiter of the issue, accepting the plaintiffs' argument that the administration's actions far exceed its authorities under the law. Supreme Court justices have previously been reluctant to interfere with the president's conduct of foreign policy, including in recent immigration cases. At the same time, though, the court took a dim view of President Joe Biden's expansive use of emergency powers for domestic purposes during the pandemic. In 2023, it struck down his administration's mass cancellation of student loans, arguing that he was overstepping his power, despite the existence of a law giving the president the ability to 'waive and modify' government debts during a national emergency. Failure to block the tariffs in court would leave the Republican-controlled Congress as the remaining domestic avenue for stopping Trump's trade policy. That's not as far-fetched as it may seem. The Senate has already voted on resolutions of disapproval of the president's tariffs, one of which passed with four Republicans voting in favor. Republicans in the House of Representatives have used procedural chicanery to prevent a vote on the measure, at least for now. House Speaker Mike Johnson, a close Trump ally, says he's giving the president the benefit of the doubt on trade policy. But even he nodded, opens new tab to Congress's prerogative in setting trade policy: 'If it gets close to where the imbalance is there, then we would step in,' Johnson said on April 30. Challenging the president's signature economic policy would be a brave act of rebellion for Republicans in Congress that would carry heavy political costs, including the ever-present threat of an election primary challenge that hangs over insufficiently loyal members. Trump frequently targets legislative rebels on social media, an unwanted burden for representatives who face re-election in 2026. Besides, even if Congress did vote to limit his powers, the president still has a veto. Overcoming that would require a two-thirds majority in each chamber. That would require a lot of Republicans to defy Trump: 14 senators and upwards of 75 congressmen, assuming all Democrats supported the move. A challenge might become more feasible if Democrats take control of one or both legislative chambers after the midterm elections in November 2026, but that would be too late to prevent the economic fallout from the trade war. Still, the case for eventually pruning presidential trade powers continues to gain support. Senator Chuck Grassley of Iowa, the dean of farm state Republicans, introduced legislation the day after Trump's April 2 'Liberation Day' announcements to pry back authority from the executive. The bill, opens new tab, co-led by Senator Maria Cantwell - whose state of Washington is home to Amazon, Microsoft, and major Boeing facilities - would sunset presidential tariffs after 60 days if Congress did not vote to approve them. The bill now has 13 co-sponsors, seven of them Republicans. While the bill wouldn't resolve the current crisis, it's a sign that a backlash to Trump could codify longer-term changes to trade law. The administration's climbdown in its confrontation with China, announced on Monday, should limit the immediate damage from halting trade between the world's two largest economies. Still, retailers project imminent disruptions in the flow of consumer goods to shelves. Expectations for inflation in the year ahead have spiked to 5% in May from 2.6% in November 2024, according to the University of Michigan, raising the prospect of unexpected price increases that doomed Biden's presidency. The economic roller coaster has already hurt Trump's popularity: his net approval rating has slipped from -2.8% on April 2 to -6.9% on Monday, according to, opens new tab political analyst Nate Silver. All longer-term changes to trade policy remain on hold, for now, as the parallel tracks of litigation and international negotiation proceed. A supply chain crisis or rapid downturn in economic conditions would likely be necessary to change the political terrain enough for Republicans in Congress, tight in Trump's grip, to buck him in sufficient quantities. No doubt they are hoping it won't come to that. Follow @Rubinations, opens new tab on X CONTEXT NEWS On April 23, 12 Democratic state attorneys general sued to block many of the Trump administration's tariffs on grounds that they had 'upended the constitutional order and brought chaos to the American economy.' California separately sued the administration, claiming the president's policies harmed its economy and budget. Mike Johnson, speaker of the U.S. House of Representatives, said on April 30 that the 'executive has a broad array of authority that's been recognized over the years' related to trade, but left open the possibility of congressional intervention: 'If it gets close to where the imbalance is there, then we would step in.'
Skift
13-05-2025
- Business
- Skift
Tariff Truce Sparks Cautious Optimism in Meetings Industry
The U.S.–China tariff rollback is welcome news for the industry, but it doesn't erase uncertainty. The recent agreement between the United States and China to roll back tariffs for a 90-day period has provided welcome, if tentative, relief to the global events industry. While the move could restore some momentum for cross-border events, industry leaders warn that the underlying economic and geopolitical tensions remain unresolved. Greater Pacific, a 31-year-old U.S.-based promotional products supplier, had paused all projects after the tariffs took effect. With the rollback, production on 180 projects will resume and be shipped. The impact has been significant. Ben Zhang, Greater Pacific's founder and CEO, had to lay off three full-time employees and two independent contractors. 'As the founder of the company, eliminating jobs is heartbreaking,' said Zhang. Greater Pacific has also begun diversifying its supply chain beyond China. A recent order for 4,000 pickleball sets came with the stipulation they are not produced in China. 'We are using a factory in India but the price will be 25% higher,' said Zhang. While the rollback offers short-term relief, Zhang said that Section 301 tariffs remain in place. 'This could be as high as 25% plus 30%,' he said. 'That could cause inflation in the U.S.' Caution Prevails The rollback signals a positive shift for global commerce and exhibitions, but industry leaders remain cautious about broader tariff implications involving other countries and economic volatility, said Jochen Witt, president and CEO of trade-show consultancy JWC. 'I anticipate a further weakening of the U.S. dollar, which, combined with tariffs, will likely lead to rising inflation and a decrease in both exhibitor and visitor spending,' said Witt. Michael Kruppe, chief executive of the Shanghai New International Expo Centre (SNIEC) — the only Sino-German joint venue with Western management — echoes the caution. 'That rollercoaster drama left most people in doubt, and doubt is always negative for most, if not all, businesses around the world, but particularly our expo business, which at its core is face-to-face and needs more time to rebuild trust,' he said. 'Here in China, most expo companies are easily 10–20% behind 2024 results, and I guess the rest of the world does not look much better.' Joint U.S.-China trade shows have taken a hit. "Right now, on both sides, the trust is not there yet to go bigger, so we may have to wait one to two years," Kruppe said. "It's a pity as we had super American shows in SNIEC like CES." China Less Vulnerable Speaking at the UFI Middle East & Africa Conference in Cairo in late April, Witt said China is less vulnerable to U.S. trade pressure. 'China doesn't rely heavily on exports to the U.S., only about 13–14% of its total export volume,' he said, 'making it difficult for the U.S. to gain leverage.' Witt warned that continued economic tensions could hurt international participation in U.S.-based events. 'This could degrade the overall quality and competitiveness of U.S. shows. At the same time, a weakening dollar and inflation could reduce overall spending,' he said. While U.S. events may struggle, Witt said European exhibitions could benefit from an uptick in Chinese participation. 'We've seen what happens when organizers become too reliant on a single source of exhibitors,' he said, citing the cancellation of the Cologne Furniture Trade Fair. 'It lost its balance when Chinese sourcing overwhelmed its traditional base.' Adapting to New Realities Despite the disruption, Witt sees opportunity. 'Our industry is a mirror of global trade flows. If you watch those shifts closely, you can adjust your strategy and stay ahead,' he said. Still, he cautioned against overconfidence. 'We are living in a new era,' Witt said. 'With conflicts continuing in Ukraine, the Middle East, and South Asia, and with increasingly autocratic behavior around the globe, the age of long-term planning is over.' Yet he remains optimistic about the industry's resilience. 'If we stay agile, we can adapt to whatever comes next.'
