U.S. May Remove Tariffs for Least Developed Countries – The U.S. International Trade Commission is evaluating the impact of eliminating tariffs and quotas on products from the world’s poorest countries. Although World Trade Organization (WTO) members agreed in 2005 to implement such programs, a final agreement has not yet been reached. While most of these goods are already imported duty free in the U.S., certain products like textiles and sugar are treated differently in an effort to protect domestic production.
Read more from Reuters.
Plans to Grow LNG Infrastructure – Chesapeake Energy, one of the largest natural gas producers in the U.S., plans on investing $1 billion over the next decade to bolster demand for natural gas. Initially, they plan to build 150 liquid natural gas (LNG) fueling stations at truck stops across the country. Compared to current diesel prices, LNG is around $1.50 to $2.00 less per gallon compared to diesel. LNG also provides significant improvements in carbon monoxide, nitrogen oxide, particulate matter, and other emissions.
Read more from the JOC.
Tokyo Tops List of Most Expensive Cities – The strength of the Japanese Yen ensured that Tokyo would remain in the top position of the Economist Intelligence Unit’s worldwide cost of living report. Australian cities generally moved up in the rankings and Europe accounted for half of the list in the top 50. Although several Chinese cities dropped in the rankings, Shanghai now ranks well above New York in the list.
Read more from CNN.
Proposal for Maritime Carbon Standards – The World Shipping Council together with officials in Japan have created a plan to regulate vessel efficiency and penalize carriers that don’t meet the new requirements. The plan was submitted to the International Maritime Organization (IMO) and is designed to incentivize steamship lines to operate the most efficient vessels possible.
Read more about the report from the World Shipping Council.