What happened?
When Russia, the world's largest exporter of wheat, attacked Ukraine, the world's fifth-largest exporter of wheat earlier this year, the world's global food supply chain had a backup plan in place. That plan just fell through.
Over the weekend, India, the world's second-largest producer of wheat announced it was banning wheat exports last Saturday.
So what？
In common belief, a shortage, in the sense of an excess of demand over supply, is t...

What happened?
The U.S. and U.K. agree on a deal to ease 500,000 metric tons of steel annually to be imported duty free, with higher amounts subject to tariffs, starting June 1.
The U.K. also will end retaliatory tariffs on more than $500 million worth of U.S. exports, including distilled spirits, agriculture products, and consumer goods.
Despite vastly adjusted on local economies and trade imbalances, tariffs also ha...