USDA’s Under Secretary for Marketing and Regulatory Programs, Jenny Lester Moffitt, highlighted the program’s importance: “The Local Agriculture Market Program strengthens food systems across the country. By investing in these projects, we’re supporting small and mid-sized producers, keeping resources in local communities, and building food system resilience.”

Farmers Market and Local Food Promotion Programs (FMLFPP)

Under FMLFPP, $14.2 million will support 60 projects in 28 states and territories, with grants focused on expanding producer-to-consumer markets. These grants help farmers develop skills in marketing, fair pricing, agritourism, and new sales channels.

Project Highlight

The University of Wisconsin will use an FMLFPP grant to train 100 direct-to-consumer farmers in financial and business management to help grow their sales and profitability.

Local Food Promotion Program (LFPP)

The LFPP, which emphasizes indirect producer-to-consumer channels, is awarding $14.1 million to 43 projects across 29 states and territories. This funding supports regional food chain development through improved processing, distribution, and storage.

Project Highlight

In Her Shoes, Inc., located in Webb, Mississippi, received an LFPP grant to support 30 small, local farms. The project will provide training for farmers, create a mobile produce market, and improve fresh food access in the Mississippi Delta.

Regional Food System Partnerships (RFSP)

With $5.2 million awarded to 10 projects, RFSP strengthens collaborations between local food businesses and institutions such as schools and hospitals. These partnerships aim to boost the presence of locally grown food in cafeterias and meal programs.

Project Highlight

The Southeast Regional Cooperative in Georgia is forming a partnership to streamline transportation and logistics in the local charitable food network. The project will involve food businesses, non-profits, and universities to develop a regional service center, focusing on efficient food distribution and data management.

This latest round of funding continues USDA’s commitment to local and regional food system development, a priority supported by the 2018 Farm Bill and annual appropriations for fiscal year 2024. Through these projects, AMS is facilitating the growth of local food markets, enhancing community access to fresh foods, and promoting economic resilience across the U.S. food supply chain.

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Read also: BRICS Nations Embrace Economic Independence, Sideline U.S. Dollar in Global Trade

Political Upheaval Weakens Yen

The yen has come under pressure following Japan’s ruling coalition losing its parliamentary majority in recent elections, creating uncertainty around both political direction and monetary policy. The Bank of Japan (BOJ) is expected to announce its monetary policy decision on Thursday, with analysts anticipating no change in interest rates.

The dollar rose 0.1% on the day to 153.365 yen, continuing a trend that could result in the dollar’s largest monthly gain in over two years.

U.S. Data Boosts Dollar Outlook

Recent U.S. data highlights a mixed economic picture. Job openings hit a 3.5-year low in September, signaling a cooling labor market, while October’s consumer confidence climbed to a nine-month high, reflecting improved perceptions of job availability.

Helen Given, associate director of trading at Monex USA, noted the labor market’s gradual slowdown but expects limited downside for the dollar given the upcoming election and Federal Reserve meeting.

Market expectations of a Republican victory, with Donald Trump leading over Democratic rival Kamala Harris, have also contributed to the dollar’s strength, along with rising Treasury yields. The dollar index has gained 3.6% in October, on track for its best monthly performance since April 2022.

Key Economic Data Ahead

This week’s economic reports, including the Fed’s preferred inflation measure—the core personal consumption expenditures (PCE) index—and several jobs reports, will be closely monitored for signs of policy direction. However, Citi’s head of G10 FX strategy, Dan Tobon, cautions that the dollar may experience choppy trading until after the election.

Sterling Firms Ahead of U.K. Budget

Sterling edged up 0.2% to 1.2997 as investors await the Labour government’s first budget. Finance Minister Rachel Reeves and Prime Minister Keir Starmer are emphasizing the need for tough fiscal measures to manage the public finances while maintaining market confidence following the 2022 bond market crisis.

The Office for Budget Responsibility’s forecasts will be critical in shaping investor sentiment toward the government’s spending and tax plans.

Yuan Steady Despite Debt News

The Chinese yuan held steady offshore at 7.151 per dollar, with little reaction to reports that Beijing is considering issuing over $1.4 trillion in new debt to support the economy. The Standing Committee of the National People’s Congress is expected to approve the fiscal package, which includes 6 trillion yuan from special sovereign bonds, during meetings scheduled from November 4-8.

With political and economic uncertainties mounting globally, traders are bracing for volatile currency markets ahead of key policy decisions and election outcomes.

The post Dollar Strengthens Amid Japan Uncertainty and U.S. Election Anticipation appeared first on Global Trade Magazine.

Transforming Ports with Zero-Emission Technology

The funding will support the acquisition of more than 1,500 units of cargo-handling equipment, 1,000 drayage trucks, 10 locomotives, and 20 vessels. Additionally, ports will benefit from the development of shore power systems, battery-electric and hydrogen charging infrastructure, and solar energy generation.

Cary S. Davis, President and CEO of the American Association of Port Authorities (AAPA), celebrated the grants, stating, “These awards will usher in a cleaner and more resilient future for our ports and national transportation system. We are grateful to Congress and the Biden-Harris Administration for their commitment.”

A Cleaner Future for Ports and Communities

EPA Administrator Michael S. Regan emphasized the importance of this investment, saying, “Our nation’s ports play a vital role in powering the economy and offering good-paying jobs. This $3 billion investment delivers cleaner technologies that will reduce harmful emissions, protecting both workers and nearby communities.”

A Path Toward Permanent Funding

With the current funding provided through the Inflation Reduction Act (IRA), the AAPA is focused on collaborating with the EPA to streamline the grant deployment process. The association aims to demonstrate the program’s impact through emissions reductions and technological advancements, making a case for Congress to turn the Clean Ports Program into a permanent, annually funded initiative.

This investment positions U.S. ports as leaders in sustainable practices, advancing both economic and environmental goals.

The post EPA Grants $3 Billion to Decarbonize U.S. Ports with Clean Technologies appeared first on Global Trade Magazine.

A notice from the Army Corps confirmed that the solicitation was canceled because bids exceeded available funding and statutory procurement limits. The project had been heralded as a significant step toward bolstering U.S. presence in the Arctic, countering increased Russian and Chinese activity, and enabling military operations closer to the region.

The proposed $662 million port expansion—discussed for more than a decade—had secured federal and state funding earlier this year. Under a partnership agreement between the City of Nome and the Army Corps, the federal agency would cover 90% of the costs, with Nome funding the remaining 10%.

The urgency behind the project intensified earlier this month when Russian and Chinese vessels conducted their first joint patrol in the Arctic, passing near Nome. As Dr. Troy Bouffard, Director of the Center for Arctic Security and Resilience at the University of Alaska Fairbanks, explained: “Presence is the most important factor in addressing Arctic challenges, and a deepwater port in Nome is the best solution.”

The nearest U.S. maritime base, Dutch Harbor, sits 750 nautical miles south of Nome—a two-day sail. Without progress on the deepwater port, the U.S. sends “the wrong strategic message to Arctic competitors,” Bouffard emphasized.

The project was to unfold in three phases. Phase 1 planned for a 3,400-foot extension of the west causeway, with dredging for a deeper channel following in Phase 2. The final phase included demolishing and rebuilding the east causeway, deepening the port from 22 feet to 40 feet. Completion was targeted for 2030, with the expanded port accommodating large cruise ships, cargo vessels, and U.S. military vessels—except aircraft carriers.

However, cost overruns have derailed these plans. Although the Army Corps solicited bids in February 2024, no public updates were provided on the number or scope of proposals received. Spokesperson John Budnik confirmed that pricing came in “well above the statutory limit,” forcing the cancellation of the phase 1 solicitation.

While Budnik assured that efforts to move the project forward remain ongoing, it is unclear how timelines will shift or whether funding will be adjusted. The City of Nome declined to comment on the development.

The Nome port project is the latest Arctic initiative facing rising costs and delays. Similarly, the U.S. Coast Guard’s icebreaker program—essential for Arctic operations—has seen cost estimates balloon by 250% since its 2019 contract award. Construction of the first icebreaker is now expected to begin by the end of this year.

The cancellation of the Nome solicitation leaves U.S. policymakers grappling with how to advance Arctic capabilities amid mounting geopolitical competition and escalating costs.

The post Setback for U.S. Arctic Strategy as Nome Deepwater Port Project Hits Cost Barrier appeared first on Global Trade Magazine.

“One out of every eight jobs in the U.S. and almost $2.9 trillion in GDP means we cannot imagine our world without American ports,” said AAPA President and CEO Cary S. Davis. “Despite facing significant challenges—such as the pandemic, macroeconomic shifts, and protectionist trends—the port industry remains crucial to the U.S. supply chain and economic growth. It’s essential for policymakers to continue investing in our ports to ensure long-term prosperity.”

Key Findings from the Report

1. 21.8 million jobs are supported by the maritime industry, including consumer spending, suppliers, and port users—equivalent to one out of every eight jobs in the U.S. workforce.

2. Employment related to ports and maritime activities exceeds the workforce in 90% of U.S. metropolitan areas.

3. The average annual wage of a port-related worker is nearly $100,000—20% higher than the national average.

4. Ports contribute $2.9 trillion to U.S. GDP.

5. Wages and benefits tied to the maritime sector total $2.8 trillion

6. Over 40% of U.S. goods—valued at more than $2.1 trillion—move through American ports.

The report was developed using the IMPLAN economic model in collaboration with Congressional economists from Ernst & Young, offering a more detailed view of the industry by including additional sectors like cruise and liquid bulk cargo. This broader scope reveals a rise in direct jobs tied to port operations compared to prior reports.

Strategic Value of Ports in the U.S. Economy

The report underscores how U.S. ports have continued to power through disruptions, from global supply chain challenges to geopolitical pressures. According to Davis, investing in the port system will yield “exponential dividends,” helping the U.S. economy grow stronger in the face of future challenges.

With ports handling over 40% of the country’s goods and supporting millions of jobs, the maritime sector remains indispensable to both national and regional economic stability. As policymakers consider future infrastructure investments, the AAPA’s report serves as a timely reminder of the importance of ports in maintaining a robust U.S. economy.

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Read also: ALAN Mobilizes for Hurricane Milton as Supply Chain Prepares for Another Major Storm

“Our priority is to support our customers and lenders as they navigate the challenges brought by these severe weather events,” said EXIM Chair Reta Jo Lewis. “We are offering flexibilities to help those affected focus on safety and recovery.”

Relief Measures for Businesses and Lenders:
EXIM’s assistance includes several accommodations to help businesses resume operations without penalty for missed deadlines:

Working Capital Guarantee Program

1. Automatic loan facility extensions of up to 180 days for loans maturing during the disaster period.
2. Additional 180-day extensions for loan facility fee payments upon request, with the possibility of fee waivers under exceptional circumstances.
3. Waivers for noncompliance with program requirements and for defaults related to nonpayment of interest, inventory losses, or sales disruptions for up to 180 days.

Short- and Medium-Term Insurance Programs

1. Automatic policy renewals for multibuyer policies expiring during the declared disaster period.
2. Extensions of shipment reporting and premium payment deadlines by up to 180 days from the disaster start date.

These temporary measures align with EXIM’s policy of providing aid to customers in disaster-affected areas across the U.S. The agency encourages participants to review the full list of current relief measures available on its Fact Sheet.

By offering these accommodations, EXIM aims to help businesses and financial institutions weather the disruptions caused by Hurricanes Milton and Helene and return to normal operations as soon as possible.

The post EXIM Bank Offers Relief to Businesses Affected by Hurricanes Milton and Helene appeared first on Global Trade Magazine.

Read also: ALAN Mobilizes for Hurricane Milton as Supply Chain Prepares for Another Major Storm

“The ability to get relief items stored, transported, organized, and delivered to disaster sites can be a game-changer,” said ALAN’s Executive Director Kathy Fulton.

Fulton expressed deep sympathy for those affected by the storm, which unleashed widespread destruction and tornadoes. “We mourn the loss of family members, pets, and homes. ALAN is already collaborating with non-profit partners to deliver aid where it’s needed most,” she said.

Earlier this week, ALAN received its first logistics assistance request related to Hurricane Milton. More requests are expected in the coming days and weeks, similar to the response following Hurricane Helene two weeks ago.

“During the initial 48 to 72 hours after a hurricane, search and rescue operations are the primary focus,” Fulton explained. “Humanitarian organizations begin requesting logistics support only after conducting damage assessments, which is when ALAN sees a surge in requests.”

Fulton encouraged logistics organizations eager to help not to get discouraged by early delays. “The need for logistics support may emerge days, months, or even longer after the disaster. Every contribution remains critical to delivering aid effectively.”

“While logistics professionals may not be first responders, their role in delivering relief supplies is life-saving,” Fulton emphasized. “We’re grateful to be part of a community that steps up in the most challenging times.”

The post ALAN Mobilizes Supply Chain Support for Hurricane Milton Relief appeared first on Global Trade Magazine.

Read also: Ports Reopen Across Southeast U.S. as Hurricane Milton Recovery Progresses

“Through coordinated efforts with Manatee County, state and federal agencies, and industry partners, fuel distribution activities are back online as of this morning,” announced Kevin Van Ostenbridge, chairman of the Manatee County Port Authority, on Sunday, October 13.

With power restored at the port, limited landside cargo operations have resumed. Per U.S. Coast Guard guidance, waterside activities are restricted to daylight hours, and vessel movement is limited to one-way traffic within the shipping channel.

“SeaPort Manatee is essential in supplying fuel to stations across the region,” said Carlos Buqueras, the port’s executive director. “Given that our area has been hit by two hurricanes in quick succession, restoring this supply is particularly vital.”

As a strategic gateway where Tampa Bay meets the Gulf of Mexico, SeaPort Manatee plays a key role in supporting Florida’s economy. The port handles nearly 400 million gallons of fuel annually and connects to major logistics networks, including railways and the Tampa-Orlando I-4 corridor. Its 10 deep-draft berths accommodate a wide range of cargo, from liquid and dry bulk to containers and project shipments.

The port generates more than $5.1 billion in annual economic impact and supports over 37,000 jobs—without relying on local property taxes. Located close to the expanded Panama Canal, SeaPort Manatee ensures smooth global trade flows while meeting regional supply chain needs.

Fuel distribution from the port marks a critical step in post-storm recovery as communities across Florida work to rebuild after Hurricane Milton.

The post SeaPort Manatee Resumes Fuel Distribution to Hurricane-Hit Florida Regions appeared first on Global Trade Magazine.

Read also: ALAN Mobilizes for Hurricane Milton as Supply Chain Prepares for Another Major Storm

While dockworkers agreed to pause their strike for further negotiations, the three-day disruption on the east and Gulf coasts initially raised fears of severe supply chain delays. However, thanks to proactive measures like front-loading goods before the strike, its impact appears to have been minimal.

Jackson Campos, corporate director at Brazil-based AGL Cargo, shared: “Our average delay has been about a week, but in some cases, we’ve seen faster deliveries. We anticipated the strike and moved goods early, but even those in transit during the strike arrived on time.”

However, Campos is more concerned about the ongoing hurricane season. After Hurricane Helene struck Florida and Georgia in late September, multiple ports closed, and airports experienced significant delays. Now, with Hurricane Milton — one of the strongest storms in nearly a century — wreaking havoc across Florida, the situation has grown dire.

The storm left millions without power, closed ports like Jacksonville, and caused widespread damage through floods and winds exceeding 150 mph. Airports such as Miami remain operational, but delays are expected. Atlanta, recently impacted by last month’s hurricane, is being used as an alternative route for cargo normally destined for Miami.

Campos added: “These weather events are much more worrisome than the recent strikes. While we’ve been able to reroute goods, the scale and frequency of these storms present a far greater challenge.”

Emergency responders are currently working to reopen highways and restore power to affected areas, but the fallout from this powerful storm is expected to linger.

The post Forwarders Shift Focus to Hurricane Fallout as Strike Concerns Ease appeared first on Global Trade Magazine.

Read also: A Prolonged Port Strike Narrowly Averted, for now 

Retailers and consumers alike were relieved by the swift resolution. Jonathan Gold, Vice President for Supply Chain and Customs Policy at the National Retail Federation (NRF), emphasized that while ports will need a few weeks to recover, no significant impact on holiday shipments is expected.

In fact, U.S. ports have been handling robust cargo volumes. August saw a 19.3% year-over-year increase, reaching 2.34 million Twenty-Foot Equivalent Units (TEUs) – the highest since May 2022. September’s numbers are projected to have risen by 12.9%, with October forecasted to see a more moderate 3.1% increase. The overall trend suggests that 2024 could close with a 12.1% rise in total imports compared to 2023, aligning with retail sales growth forecasts.

Ben Hackett, Founder of Hackett Associates, attributed the recent surge in imports to strategic contingency planning by wholesalers and retailers ahead of the strike, rather than an unexpected spike in demand. However, industry experts warn that a long-term labor agreement needs to be in place by mid-January to prevent future disruptions.

For now, the retail sector appears poised for a strong holiday season, buoyed by stable import levels and continued economic resilience.

The post Brief U.S. Port Strike Won’t Derail Import Surge Ahead of Holidays appeared first on Global Trade Magazine.