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New report outlines negative effects of tariffs

A report, commissioned by the International Chamber of Commerce, provides global policymakers with an evidence-based overview of the far-reaching economic and social consequences of trade tariffs. The report outlines 10 possible effects of a return to the destructive tariff increases of the 1930s. The consequences, illustrated by two case studies, range from an increase in poverty to worse health outcomes.

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No-Deal Brexit will affect all Britain, report says

According to the Confederation of British Industry (CBI), all parts of Britain will experience economic difficulties in case of a No-Deal Brexit. Namely, if the UK leaves the EU without a deal, then it will suffer an economic loss which may last until 2034. The CBI noted that the North East of England region would receive the hardest hit, as it would lose 10.5% of its real gross value added.

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UK Gov launches Maritime 2050 strategy

Maritime 2050 is the first long-term strategy developed in close partnership with industry that highlights the government’s recognition of the importance of the maritime sector to Britain’s future success. That importance has only increased in the context of the Brexit, with 95% of all UK trade being enabled by the sector. Maritime 2050 is published at a time when the UK faces intense competition from maritime nations in the Far East, Northern Europe, Gulf and North America.

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BPA responds to survey on port Brexit preparations

British Ports Association responds to Odgers Berndston survey 'Brexit, Business Leaders and Investment'. The survey focuses on UK's preparedness for Brexit and in the possibility of a no-deal scenario. The British Ports Association has suggested ports and terminals are considering a range of potential outcomes. The uncertainty has made it difficult for ports to make firm investment decisions in potential solutions.

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LNG can be a compelling investment, report notes

SEA\LNG released a study revealing a strong investment case for LNG as a marine fuel in the container shipping market. Peter Keller, Chairman, SEA\LNG, noted that the results show that for this type of vessel, LNG can deliver the best return on investment on a net present value basis over a conservative 10-year horizon. The study analysed the case of a newbuild 14,000 TEU container vessel operating on an Asia-US West Coast (USWC) liner routing and compared six fuel pricing scenarios.

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