A new acronym–MASGA–has become a rallying call in South Korea ahead of today’s scheduled talks between President Lee Jae Myung and President Trump.

“Make America Shipbuilding Great Again” adorned baseball caps that Seoul rushed by air to Washington last month to press home the nation’s commitment to invest $150 billion to help revive America’s withered ship manufacturing, The Wall Street Journal’s Timothy W. Martin writes. China’s dominance of the global maritime sector is a central concern for the White House, prompting a vow for a swift turnaround through tax incentives and a new office dedicated to shipbuilding.

This led Seoul to reckon that no issue held the same potential for a breakthrough in trade talks with the U.S., which led to a pact for a 15% U.S. tariff on South Korean imports in return for duty-free treatment on many American products and pledges for hundreds of billions of dollars of investment. Seoul officials have said the investment in U.S. shipbuilding could encompass purchases of American shipyards, workforce training, supply-chain restructuring, repairs and other areas.

The end of the de minimis tariff exemption set for 12:01 a.m. on Aug. 29 is spurring demand for warehouse space in foreign trade zones and driving European postal services to suspend some shipments to the U.S.

The WSJ Logistics Report’s Liz Young writes that e-commerce brands are turning to warehouses with the federal foreign-trade-zone designation across the U.S. This allows them to defer tariffs until goods are shipped out to U.S. customers. One e-commerce fulfillment provider, ShipBob, says it has more than doubled the amount of FTZ-designated space it operates before the end of de minimis, which allows shipments of $800 or less to enter the U.S. duty-free. 

The looming end to the exemption led Deutsche Post and DHL Parcel Germany to suspend some shipments to the U.S., joining Austrian, Belgian and other European postal groups. DHL shipping from Germany will be suspended from Tuesday, but the logistics company says it hopes to resume operations as quickly as possible, adding it is in contact with U.S. authorities and European partners. Shipping via DHL Express remains possible.

• The U.S. will likely apply tariffs to imported furniture, Trump said, announcing a “major” new probe that could authorize levies on foreign-made home furnishings. Shares of furniture retailers fell. (WSJ)
• Canada said it would remove its 25% tariff on about half of the U.S. goods it has targeted since March,  though 25% duties on U.S. steel, aluminum and autos would remain in place. (WSJ)
• Indications of a pullback in retail spending by Canadians last month following a rebound in June could signal household consumption is cooling. (WSJ)
• In the tariff economy, retailers that cater to cautious consumers, such as Walmart, Amazon and T.J. Maxx are winning, while those who don’t are falling behind. (WSJ)
• GOP members of Congress are privately telling constituents and corporate leaders that they oppose Trump’s tariffs, but legislative action doesn’t materialize, sparking ire from businesses. (WSJ)
• Air-cargo volumes from the Asia-Pacific region to the U.S. are picking up some of the slack as tariff threats and the end of de minimis curb e-commerce from China. (Air Cargo News)

A partnership between CSX and Berkshire Hathaway’s BNSF Railway to connect the East and West Coasts sparked a debate over whether the two railroads are trial-ballooning a merger or trying to avoid a full-on consolidation.

The Journal’s Dean Seal writes that the railroads have teamed up to launch three new intermodal services. One will link Southern California to Charlotte, N.C., and Jacksonville, Fla. A second will connect Phoenix to Atlanta. A third will tie the Port of New York and New Jersey and Norfolk, Va., to Kansas City, Mo.

The pact follows the announcement of a planned $71.5 billion deal to combine Union Pacific and Norfolk Southern. CSX also be responding to activist pressure to reach a deal of its own, but the pact with BNSF gives the two railroads a way to wait and see how the regulatory path unfolds for the Norfolk Southern and Union Pacific, analysts said.

Federal Reserve Chair Jerome Powell said the labor market might be softening enough to rein in inflation pushed up by tariffs, opening the door for rate cuts next month. (WSJ)

The Fed said it would no longer intentionally allow inflation to run above the central bank’s 2% target, even after stretches of low price increases, a revision to its long-run strategy. (WSJ)

Japan’s consumer inflation cooled in July, but at 3.1%—excluding volatile fresh food—remained well above the central bank’s target of 2%. (WSJ)

Germany’s gross domestic product shrank by 0.3% in the second quarter, more than initially estimated, as U.S. tariffs hurt exports. (WSJ)

Wages in the eurozone rose at a slightly faster pace during the three months through June as unemployment remained at record lows. (WSJ)

President Trump said the government is taking a nearly 10% stake in Intel. (WSJ)

Keurig Dr Pepper is close to a roughly $18 billion deal for European coffee company JDE Peet’s. (WSJ)

Alphabet-owned Waymo received a permit to test autonomous vehicles in Manhattan and Downtown Brooklyn. (WSJ)

Cenovus Energy will buy MEG Energy for 7.9 billion Canadian dollars, or $5.68 billion, to consolidate Alberta oil-sands operations. (WSJ)

Some U.S. metal dealers are redirecting shipments of scrap copper bound for China through Canada, Mexico and other countries to avoid 10% import tariffs. (Bloomberg)

The U.S. is pausing the issuance of work visas for foreign commercial truck drivers. (Politico)

Saudi Arabia and China are strengthening their shipping links with a new container service and a joint venture with Cosco Shipping to build a new dry port. (Lloyd’s List)

Fire risk prompted Lynden’s Alaska Marine Lines to stop shipping electric vehicles and plug-in hybrids. (The Maritime Executive)

United Parcel Service is expanding voluntary buyout offers to some U.S. operations managers. (Supply Chain Dive)

A.P. Moeller-Maersk unit APM Terminals reached a $1.1 billion deal to upgrade and operate three ports in India. (Breakbulk News)

Arctic Gateway Group and dry-bulk carrier Fednav will explore setting up year-round operations at Canada’s only Arctic seaport. (gCaptain)

The U.K. government took over Liberty Steel unit Specialty Steels, the country’s third-biggest steelworks. (BBC)

Shipbuilder HD Hyundai Group’s holding company will acquire the Doosan Vina industrial complex in Vietnam for $207.5 million. (Seatrade Maritime News)

Mark R. Long is editor of WSJ Logistics Report. Reach him at mark.long@wsj.com. Follow the WSJ Logistics Report team on LinkedIn: Mark R. Long, Liz Young and Paul Berger.