FedEx reported rapid revenue growth thanks to the pandemic’s e-commerce boom, though the freight business has developed more slowly while Europe may take years to recover. Nike’s revenues were held back by logistics challenges. Also: Hapag-Lloyd recovery at risk as bunker-adjusted rates reverse; fireworks stuck at sea, pandemic casts cloud over July 4 celebrations; Brexit, different customs approaches drag on global export growth; Tai-Truss meeting to rekindle special trade relationship, in places; tariffs, phase 1 trade deal likely to remain after frosty U.S.-China talks; Biden’s appare...