Trade

A 94% Collapse in Container Traffic Shows the Gulf Crisis Is Bigger Than Oil

Container traffic through Hormuz has reportedly fallen 94%, while grain, steel, fertiliser and manufactured goods are also being disrupted. With insecurity spreading towards Bab el-Mandeb, the Gulf crisis is becoming a global supply-chain problem far beyond oil.

On France’s Tiny Atlantic Outpost, Macron and Carney Make a Bigger Point

France’s Emmanuel Macron and Canada’s Mark Carney are meeting in Saint Pierre and Miquelon, a French territory just off Canada’s coast. The summit will focus on defence, energy and technology, but its location gives it added weight amid mounting tensions with Washington.