WTO Rules Against U.S. Meat Labeling Rules – The World Trade Organization (WTO) rejected U.S. labeling requirements for packaged meats to identify where the animal was born, raised and slaughtered. The WTO argued that the rules created an unfair advantage for U.S. animals over Mexican and Canadian livestock.
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Busiest Month for Long Beach in 7 Years – The Port of Long Beach experienced its busiest month since September 2007. The port handled 629,771 TEUs in September, up 7.3% from the same month last year. Despite the overall increase, export shipments were down for the month. The rise in volume is exacerbating the current congestion problems at both the Long Beach and Los Angeles ports.
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IMF Reports on Eastern European Income Troubles – The International Monetary Fund (IMF) issued a report outlining the stalled income growth in Eastern European countries. From 1995-2008, these countries were catching up to average European Union (EU) levels at a rate of approximately 1% annually. However, the global economic slowdown has slowed, or in some cases, reversed this trend.
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