Early each morning, the content team at the Institute of Export & International Trade sifts through the national news headlines to find the stories relevant to global trade – so you that don’t have to.
Below are four stories from the national papers and trade press that caught our eyes today.
1. World’s largest cargo ship
The world’s largest cargo ship was a sight to behold as it arrived in the UK for the first time, report Sky News.
HMM Algeciras, 400m long and 61m wide, is delivering a variety of goods at DP World London Gateway in Thurrock, having already journeyed from China via South Korea, the Netherlands, Germany and Belgium.
Preparations for the ship’s arrival have been months in the making, with the Port of London Authority carrying out simulator modelling to ensure it could arrive safely.
2. WTO chief: 'Fast recovery from COVID-19 possible'
The director general of the WTO, Roberto Azevedo, appeared on the BBC’s The Andrew Marr Show on Sunday (14 June) and said the global economic recovery from the pandemic “can be faster than in previous recessions”.
When asked about the UK possibly leaving the EU without a deal, he said, “the less turbulence the better” and a deal could be reached if there is sufficient “political will”.
3. UK-US trade talks, round two
The second round of UK-US talks begin today. Former Brexit secretary David Davis argues the parallel talks could be "psychologically very useful" for Britain as they could convince the EU it is no “supplicant” and that it could walk away and go elsewhere.
However, a report in Politico argues this is a risky strategy because the UK “cannot afford to jeopardise vital commerce with the [EU] bloc and has already bartered away much of its clout by accepting new trade barriers across the Channel”.
4. Fossil-fuel funding
The government is looking at ways to stop funding fossil-fuel-related projects overseas, report the Guardian.
The UK has reportedly put £3.5bn of public funds into such projects since signing the Paris Agreement in 2016, including through Department for International Trade credit agency, UK Export Finance.
“For the government to show real climate leadership ahead of Cop26 and support a global green recovery from Covid-19, it needs to end these highly damaging investments,” said Daniel Willis, a climate campaigner with Global Justice.