Georgia-EU Free Trade Agreement In Progress – Georgia, a sovereign state in the Caucasus region of Eurasia, will sign a free trade agreement with the EU in the next 18 months. Georgian Prime Minister Nika Gilauri states that Georgia’s regional functions will be further expanded after the negotiations on free trade with the EU are complete. He also states that the transformation into an open economy with a good transport infrastructure will provide Georgia with additional guarantees during a crisis.
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The Largest Container Ship Ever Calls at Port of LB – The Mediterranean Shipping Co.’s 12,500-TEU container ship, the Fabiola, is the largest container ship to ever call at a North American port. Many vessels calling trans-Pacific ports are already 8,000-TEU capacity; however, Long Beach anticipates that other carriers will gradually upgrade the size of their vessels. Long Beach is scheduled to spend $4.5 billion for marine terminal and infrastructure development in the next decade.
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U.S. Imposes Tariff on Solar Panels from China – After concluding that the Chinese government has provided illegal export subsidies to manufacturers, the U.S. Commerce Department stated that it will impose a small tariff on solar panels imported from China. Once the Commerce Department decides whether China is “dumping” solar panels into the U.S. at prices lower than their actual cost, additional tariffs could be imposed in May. Solar panels from China currently account for about half of the American market, while panels from the U.S. account for less than a third.
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Cotton Exports Banned in India – As the world’s second-biggest cotton producer and exporter, India has caused U.S. cotton futures to surge by banning all exports of cotton indefinitely. India imposed the ban because it’s worried about a possible supply crunch in the country. India’s move could start a new rise in cotton prices and in effect, a price spike for consumers.
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