Global Shipping Crisis

Red Sea Attacks: Houthis Sink Ship, Kill, and “Kidnap” Crew

Following an attack by the Houthis near Yemen, ten people have been rescued from the Red Sea, while several others are believed to be held captive by the rebel group. The Houthis claimed responsibility for the attack on the commercial bulk carrier Eternity C, which resulted in three fatalities and the sinking of the ship. The crew consisted of 21 Filipinos, one Russian, and a three-person security team, with the Houthis asserting they targeted the vessel due to its alleged destination of the Israeli port of Eilat. This attack marks the second sinking this week, fueling concerns of a shipping crisis on a crucial trade route, as the Houthis vow to continue targeting ships with alleged ties to Israel until the conflict in Gaza ends.

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Trump’s Two Weeks to Avert Empty Shelves

President Trump’s fluctuating trade policies, particularly the US-China trade war, are disrupting global shipping. This is leading to decreased bookings and increased “blank sailings” as freight companies struggle to adapt. Major retailers like Walmart, Target, and Home Depot have warned the White House that tariffs on Chinese goods could result in empty store shelves within weeks. These retailers heavily rely on Chinese imports, making them particularly vulnerable to the president’s actions. A significant change in trade policy is urgently needed to avert a major economic impact.

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