Stay Ahead with the October GCP Trade Report
Unlock the latest trade insights and practical strategies to strengthen your business and seize new opportunities.
Highlights from the Report:
- U.S./China trade tensions escalated after China imposed new export controls on rare-earth materials and the U.S. responded with threats of up to 155% tariffs effective November 1.
- U.S./India relations improved, with negotiations advancing toward a deal to reduce tariffs from 50% to 15-16%, marking the first major de-escalation since 2024.
- Global manufacturing growth slowed, though remained in expansion territory; business sentiment and employment levels weakened slightly heading into Q4.
- Raw material prices rose for the 12th straight month, up 11.6% year-over-year, driven by continued increases in steel and aluminum costs.
- Natural rubber prices stabilized around 170 U.S. ¢/kg amid stronger supply from Southeast Asia and softer automotive demand.
- Global basic-materials sectors returned to growth, signaling renewed momentum in upstream industrial activity, even as overall confidence stayed subdued.
- Trade flows grew more volatile as companies diversified supply chains to avoid tariff exposure.
- Canadian exports to the U.S. declined, reflecting weaker demand for metals, machinery, and forestry products.
- U.S. port volumes fell 6.8% year-over-year, with container traffic from China down 23%, underscoring the continued impact of tariffs and cautious importer sentiment.
- Freight markets remained uneven, ocean reliability improved marginally, while trucking capacity stayed soft but stable, with limited holiday-season spikes expected.
Learn more about these key issues in the full report linked below.
Estimated Reading Time: 9 minutes
Report Length: 2979 words
