WASHINGTON—U.S. Trade Representative Katherine Tai and South Korean Trade Minister Yeo Han-koo, in a meeting on Monday, emphasized the importance of working together to strengthen supply chains, including for semiconductors, the office of the USTR said in a statement.
US, South Korea Trade Chiefs Discuss Strengthening Supply Chain
September 14, 2021
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Oil at One-Week High as US Supply Concerns Dominate
LONDON—Oil rose more than 1 percent on Monday, supported by concerns over shut output in the United States because of damage from Hurricane Ida, with analysts expecting prices to remain rangebound in a stable market over the coming months. Brent crude rose 90 cents, or 1.2 percent, to $73.82 a barrel by 1049 GMT and…
Toyota to Spend $13.5 Billion to Develop EV Battery Tech and Supply by 2030
TOKYO—Toyota Motor Corp said on Tuesday it expects to spend more than $13.5 billion by 2030 to develop batteries and its battery supply system—a bid to lead in the key automotive technology over the next decade. The world’s largest automaker by volume, which pioneered hybrid gasoline-electric vehicles with the popular Prius, is now moving rapidly…
BMW CEO Expects Chip Supply to Remain Tight for Another 6–12 Months
MUNICH—BMW expects supply chains to remain tight well into 2022, Chief Executive Oliver Zipse said on Monday, squashing hopes that a painful shortage of crucial semiconductors will end soon. “I expect that the general tightness of the supply chains will continue in the next 6 to 12 months,” he said at the IAA Munich car…
Walmart to Hire 20,000 Supply Chain Workers Ahead of Holiday Season
Walmart Inc. said on Wednesday it planned to hire 20,000 workers at its supply chain division ahead of the busy holiday season as the world’s largest retailer and other major rivals battle a logistics and labor crunch. The roles, a mix of part-time and full-time jobs ranging from freight handlers to lift drivers, will be…
Stranded and Shattered Seafarers Threaten Global Supply Lines
LONDON/SINGAPORE—”I’ve seen grown men cry,” says Captain Tejinder Singh, who hasn’t set foot on dry land in more than seven months and isn’t sure when he’ll go home. “We are forgotten and taken for granted,” he says of the plight facing tens of thousands of seafarers like him, stranded at sea as the Delta variant…
Many Key China Issues Still ‘Under Review’ at Biden’s First 100 Days
May 1, 2021
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WASHINGTON—As President Joe Biden’s first 100 days come to a close this week, a number of key policy positions and contentious issues remain “under review,” to use the White House’s terminology. Many relate to China, the United States’ strategic competitor, a rivalry that Biden has starkly defined, most recently in a speech to Congress on…
US Issues Subpoena to Chinese Company as Part of Supply Chain Review
April 13, 2021
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WASHINGTON—The U.S. Commerce Department said on Tuesday it had issued a subpoena to an unnamed Chinese company as part of the Biden administration’s review of its supply chain for any risks posed to U.S. national security. The administration of President Joe Biden has take a relatively hard line on Chinese companies, similar to that of…
Oil Jumps 2 Percent, Hits Highest in Year as Producers Limit Supply
NEW YORK—Oil prices rose more than 2 percent on Tuesday, reaching their highest in 12 months after major producers showed they were reining in output roughly in line with their commitments. The U.S. and global benchmarks rallied as optimism about more U.S. economic stimulus added to market bullishness from supply cuts. Brent crude was up…
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