Over the last several months, there have been a number of key updates to S232 Tariffs and S301 Tariffs Lists 1-3. In addition, the United States and China continue to hold trade talks. Last week in Beijing, key officials from the United States and China outlined a “10-item list of ways China can reduce its trade surplus with the US."
Congress has requested that the office of the United States Trade Representative (USTR) create the formal exclusion process for products outlined under the S301 List 3 tariffs. These tariffs for $200 billion worth of imports from China are scheduled to increase from 10 percent to 25 percent on March 2, 2019.
Now that 2019 is underway and our clients are actively planning for the rest of the year, industry experts predict that demand for industrial technology and manufacturing will continue to grow. Therefore, now is the time for manufacturers of industrial goods to make sure they have complete visibility and control over all aspects of their supply chains. Companies will need a partner to provide them with the right mixture of technology and personalized service through all aspects of their logistics needs.
Impending US Government Shutdown Averted
On the afternoon of February 15, 2019, US President Donald Trump signed an emergency spending bill to avert a partial government shutdown. The legislation provides $333 Billion worth of funding to several key Cabinet agencies through September 2019.
New England Motor Freight (NEMF) announced on February 11, 2019 that it voluntarily filed for relief under Chapter 11 of the Bankruptcy Code in the US Bankruptcy Court for the District of New Jersey in Newark. For more information, click here to read the official press release from NEMF.
In February, we often celebrate Valentine’s day with candy and flowers for the people who have a special place in our heart. This month’s compliance circular is going to focus on some of the people at the heart of the international freight forwarding industry, the Customs Brokers. As early as 1799, Customs Brokers were called “known agents or factors” and could make entry on behalf of cargo owners who were unable to do so, for a variety of reasons.
Cargo insurance is one of the most proactive steps companies can take to protect their supply chain. Insurance safeguards shippers' financial investments during domestic and international transit, when product is the most vulnerable. While in transit, cargo is susceptible to natural disasters, severe weather, theft, pilferage, damage, fire and other challenges.
Attention Drivers along the East Coast! Our Ascent Power team is searching for safety-first drivers to help us continue delivering exceptionally reliable asset-backed refrigerated transportation solutions East of the Rockies.
Topics: Domestic Freight Management
Believe it or not, it is still possible to ship items ahead of Chinese New Year. Starting on February 5, 2019, all manufacturing in and shipping to and from Asian ports will be affected by the celebration of Chinese New Year. Ports in Asia could continue to see delays up to one month after Chinese New Year.
Topics: International Freight Forwarding
Earlier this month, a fire broke out on the Hapag-Lloyd vessel Yantian Express as it departed from the Canadian port of Halifax. Attempts to extinguish the fire were immediate, but weather hampered the efforts. Now, Hapag-Lloyd has formally declared General Average on its fire-stricken vessel and has diverted the vessel to the Bahamas for salvage purposes.
General Average is a principle of maritime law with ancient origins, requiring all parties with cargo on the vessel to proportionally contribute to the total loss based on the voluntary sacrificed cargo and vessel’s value. Shippers who did not purchase cargo insurance for their cargo would be held responsible for payment to the ocean carrier.