Afternoon Coffee: Trans-Pacific Trade Deal Signed Without U.S., KFC Returns to Bidvest After Logistics Fiasco

Eleven Asia-Pacific nations have signed the trade pact formerly known as the Trans-Pacific Partnership (TPP), the trade deal President Trump backed out of over a year ago, the BBC reports. The new agreement covers a market of nearly 500 million people, and supports say it could be helpful model for future trade deals.

Coming Home to Roost

After high-profile supply chain failures in the U.K., KFC has decided to rehire Bidvest to manage a portion of its logistics operations, according to the Guardian. The decision comes as a small number of KFC outlets still remain closed and others are still offering only a limited menu.

“We are delighted to welcome KFC back to Bidvest Logistics,” said Bidvest business unit director Paul Whyte. “As the U.K.’s leading food service logistics specialist, we understand the complexities of delivering fresh chicken … We will provide them with a seamless return to our network.”

German Exports

Exports from eurozone powerhouse Germany fell their most in seven months, dropping 0.5% to €111 billion, the Financial Times reports. The decline comes as worries mount about Germany’s trade future, which will likely be hurt by Trump’s steel and aluminum tariffs.

Jobs Report 

And finally, an economic update: The U.S. economy added 313,000 jobs in February, “crushing” economist expectations of 200,000, according to CNBC. An increase in labor force participation helped drive the increase, which sent stock markets surging.

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