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Is another union strike coming for Boeing? US manufacturer Boeing is expecting over 3.2k union workers at three St Louis plants — which produce fighter jets — to go on strike on the back of a denied proposal on Sunday that demanded a 20% pay increase spread over three years, according to a statement.
A truce period: The union workers entered into a seven-day “cooling period” until 4 August, in a bid to reduce the likelihood of a strike. The strike is set to begin after the week is over, although its duration was undisclosed. The International Association of Machinists and Aerospace Workers is insisting on eventually renegotiating their contracts.
SOUNDS FAMILIAR? Boeing’s last strike in 2024 lasted for six weeks, also over workers’ wages, delaying deliveries of 737 Max jets.
Chinese exports to the US are expected to fall by USD 485 bn within the next two years — driven by recent tariffs and their impact on global trade, CNBC reports, citing an OEC tariff simulator. The US is charging a 51% tariff on Chinese goods, while China is charging 33%. “Countries will have a natural tendency to rewire their trade relationships away from the US in many of these scenarios,” Datawheel founder Cesar Hidalgo told the news outlet. On the other hand, US exports will see a 12% increase by 2027, driven by Chinese tariffs and the latest EU trade agreement — despite a decline in Chinese goods.
Tariffs could reach 145% if disputes remain unresolved — pending the 12 Augustdeadline. The Trump administration has been intensifying its efforts to undercut China’s exports by targeting transshipment networks, risking choking off 70% of China’s exports to the US — equivalent to over 2.1% of China’s GDP. China has meanwhile increased its reliance on other countries like Vietnam, Mexico, and parts of the EU.
Other countries caught in the crossfire: Vietnam might see its exports to the US fall by USD 102 bn by 2027, while South Korea’s exports could decrease by USD 49 bn over the same period — with goods such as broadcasting equipment, computers, and cars affected the most, according to the outlet.
