Air freight:

Late Thursday (March 20^th), London’s Heathrow Airport experienced a fire, causing a power outage and leading to a complete shutdown, the JOC reports. Impacting both freight and passenger services. Service has since returned, the airport said in an online update.

Regulatory:

— In an FMC notice, they announce plans to launch a probe into seven maritime choke points: English Channel, the Malacca Strait, the Northern Sea Passage, the Singapore Strait, the Panama Canal, the Strait of Gibraltar and the Suez Canal.

The FMC will look to identify whether their might be unfavorable conditions for shipping in U.S. foreign trades, and if additional FMC action is merited.

Tariffs:

— The Canada/Mexico tariffs that went into effect March 6^th have since been paused until April 2^nd, under President Trump’s executive order. This applies to imports covered by the U.S.–Mexico–Canada Agreement, which accounts for approximately 50% of goods from Mexico and 38% from Canada, according to NBC News.

— Steel/Aluminum: New tariffs on steel and aluminum have gone into effect as of March 12^th at 12:01am EST.