Dec 28, (V7N) - Chattogram Port has achieved a record-breaking feat, handling over 32.30 lakh TEUs (twenty-foot equivalent units) of containers in 2024, surpassing its previous highest of 32.15 lakh TEUs in 2021. The figure is expected to rise to 32.8 lakh TEUs by year-end. Despite global crises, natural disasters, and political disruptions, efficient management and rising trade activities contributed to this milestone. Port authorities anticipate an improved global ranking, currently standing at 67th, as per Lloyd’s List.

China Investigates Beef Imports Amid Domestic Concerns
China’s commerce ministry has initiated an investigation into imported beef following complaints from domestic producers citing adverse effects on local industries. Beef imports in 2023 surged by 65% compared to 2019. While the probe could take up to eight months, normal trade will continue, and tariffs remain unchanged. Brazil, a major beef exporter, pledged to demonstrate its exports' complementary role to China’s production while seeking mutually beneficial resolutions.

US Faces Debt Ceiling Deadline in January 2024
Treasury Secretary Janet Yellen warned that the US could hit its debt ceiling between January 14 and 23, urging Congress to act swiftly. The suspension on the borrowing limit ends January 1, with a new limit matching existing debt levels. If Congress fails to raise or suspend the ceiling, the government risks defaulting on obligations, potentially triggering severe economic consequences. The US debt currently stands at $36.2 trillion.

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