Did You Know That…

…China tariffs 'not sustainable'. Trump made the comments ahead of a planned visit by US Secretary Treasury Scott Bessent to China. Beijing and Washington are aiming to avoid another tit-for-tat tariff tussle.
China and the United States will conduct a new round of trade talks next week to avoid another denting tit-for-tat tariff tussle between the world's two biggest economies, as President Donald Trump called US tariffs on Chinese goods unsustainable. US Treasury Secretary Scott Bessent said on Friday that he was expecting to meet Chinese Vice Premier He Lifeng in Malaysia in the coming week.

…Fire rips through warehouses at Dhaka Airport cargo village. A huge fire broke out at the cargo village at Dhaka airport on Saturday noon, halting operations at the main airport of the country.

…Uncertainty for shippers as rates are boosted by GRIs and port fees loom. Container spot freight rates on the main east-west trades reversed months of consecutive declines this week with a series of general rate increases (GRIs) and new FAK [Freight All Kinds] rate levels on Wednesday.

… CMA CGM poised to make Russian return with St Petersburg feeder call. French carrier CMA CGM is set to resume container services to the Russian Baltic gateway of St Petersburg.

…Montreal Port expansion moves ahead. The Montreal Port Authority (MPA) has begun preparatory work for its Contrecœur container terminal, marking a key step in the USD445 million expansion. The contract for all water works has been awarded to the Canadian consortium CTCGP, formed by Pomerleau and Aecon.

…Japan Post aims to become a 3PL. Japan Post has agreed to acquire a 19.9% stake in Logisteed Holdings, formerly Hitachi Transport System, from investment fund KKR, forming a capital and business alliance with Logisteed and its subsidiary Logisteed Ltd.

…Fiata elects new global leadership team in Hanoi. Fiata has elected a new presidency and board to lead the world’s freight forwarding community, marking a historic first with the election of Nadia Abdul Aziz of the UAE as the federation’s first female senior vice president.

…The Argentine peso, and Javier Milei, are in trouble.

Lately, running Argentina has been quite a slog. On September 22nd Scott Bessent, the US Treasury secretary, promised that America is ready to “do what is needed” to steady Argentina’s currency. That intervention was prompted by the Argentine central bank being forced to sell over $1bn in two days to prop up the peso. Mr Bessent’s promises stopped the slide, but details are scant and even Republicans are questioning the bail-out. The situation is again fraught.The president’s economic team has decamped to Washington, trying desperately to confirm American support. With every social-media post by Mr Bessent, the peso and Argentine bonds lurch (see chart). By some estimates the Argentine treasury has sold more than $2bn over the past six days to support the currency. Mr Milei’s economic team is in Washington, trying to hash out the details of the bail-out and buy some calm. Yet even if they can navigate American politics, the Argentine variety may swamp them. A serious loss in the midterms would all but end Mr Milei’s radical economic reform programme.

…DHL reveals 2025 e-commerce trends. A new DHL study has identified artificial intelligence, social media commerce and sustainability as key drivers of e-commerce growth in 2025. Surveying 4,050 companies across 19 markets, the 'business edition' report highlights how online retailers are adapting to the market. .

…Wine from China is finer than Western snobs imagine. Government support and French expertise have made all the difference. Ningxia, a region in north-western China close to the Gobi desert, endures harsh winters. Nonetheless, it provides fertile ground for winemakers. The capital, Yinchuan, sits at the same latitude as Napa Valley, a centre of wine production in California. Ningxia gets 3,000 hours of fruit-ripening sun each year—the same as in parts of Spain. The rocky soil drains quickly and allows vines to put down deep roots.

People have been making wine in China at least since the Han dynasty (206BC-220AD) and perhaps even longer, judging from some archaeological evidence. Today wine is a big industry: in 2024 China produced 118,000 kilolitres of wine, roughly equivalent to 160m bottles (or about the amount drunk at the average office Christmas party). Ningxia is where much of the premium stuff is made. Revenues from wineries in Yinchuan reached 36bn yuan ($5bn) last year, up 20% from 2023.

It is not just the scale that is impressive: Chinese wine tastes better than many Westerners assume. The country’s vintners are earning ever more accolades in the world’s top competitions.

…Millions of people celebrate Diwali this week. Here is what you should know. Around one billion people worldwide and across the U.S. will celebrate Diwali this week. Diwali, also known as Deepavali and the Hindu “Festival of Lights,” is one of India's most widely celebrated holidays. It overlaps with other harvest rituals and festivals. The dates for the holiday vary each year as they follow the lunar calendar. Diwali originated in India more than 2,500 years ago. The annual festival, which expands to the Indian diaspora, is usually observed for five days or even as short as one day, depending on where a person lives or how the person celebrates. We wish our friends from Globus Logisys and all others celebrating a very happy Diwali festival!

…This DYKT news bulletin will be published on the website as well, go to www.eaanetwork.com.

Have a good week ahead!