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The U.S. port of Baltimore, closed due to the collapse of the bridge, officially announced the opening of a temporary reserve route to restore maritime traffic. The closure of the port affects coal exports, and the bridge rebuilding is expensive, impacting the supply chain and the economy.

The International Cotton Advisory Committee predicts that global cotton production will decline, weak consumption and increased inventory will affect the textile market.The Chinese and U.S. markets are weak, and the global textile industry needs to be flexible to respond to market changes and economic uncertainty.

The Baltimore Bridge collapse caused damage to important transportation hubs, and Maryland declared a state of emergency.The accident is expected to have a major impact on the global supply chain, especially on the automotive and coal industries, exacerbating already fragile supply chain tensions.

In the face of farmers’ tractor demonstrations in Brussels, the EU has revised the Common Agricultural Policy to make important concessions, including providing income support, reducing administrative burden, and taking a more flexible stance on environmental policy to seek a balance between agricultural production and environmental protection.

For not applying for export license, the export of high content of uranium oxide was seized by the customs of Shanghai Pudjiang and fined 47,3 thousand yuan.This case highlights the need for enterprises to strengthen compliance awareness to ensure that the export of two-use items complies with national safety regulations.

The EU plans to carry out the most comprehensive reform of customs legislation since 1968 to address the challenges posed by cross-border e-commerce, including the establishment of data centers, new types of corporate credit management, and significant adjustments to the tax and compliance requirements of cross-border e-commerce platforms, which could significantly increase the tax burden of Chinese companies.