Europeans may have to pay more for barbecues this summer as African swine fever decimates hog herds around the world. Producers in the European Union are the big winners, with sales to China climbing 43% through May.
Germany said any escalation of U.S. tariffs on metal imports into a full-blown trade war could cause tangible damage to the global recovery, although the tariffs themselves should have only a limited effect.
The U.S. will shield a list of allies including Europe, Australia, South Korea, Argentina and Brazil from steel and aluminum tariffs that take effect on Friday, according to U.S. Trade Representative Robert Lighthizer.
Yum! Brands Inc.’s KFC warned that a supply-chain breakdown that has shut more than half of its 900 U.K. outlets would persist for the rest of the week, continuing to deprive fans of their fried-chicken fix.