While the trade world has been focusing on the S232 and S301 remedy tariffs, the Miscellaneous Tariff Bill of 2018 has been quietly implemented. This has allowed for a temporary reduction or suspension of import tariffs paid on particular imported items into the United States.
As the capacity crunch continues, freight demand levels are at an all-time high. LTL carriers are now charging an Over Dimensional fee when a shipment contains an article that is eight or more feet in length. With some carriers, this charge will also be applied if an article is both six or more feet in length and six or more feet in width.
When is the last time you found a few random quarters lying around your house? Was it last week? Last month? Last year? One can only image how satisfying it was to find extra change lying around. Ultimately, that day was probably a very good day for you…
In 2018, the S232 and S301 tariffs have increased duty payments to Customs and Border Protection (CBP) by up to 25 percent. Ultimately, this affects the daily duty payments to CBP and the subsequent billing from Ascent Global Logistics. We predict that duty outlay could be up to six times more per month than in months previous to the S232 and S301 tariffs.
The duty liability for the importer is increasing. To better manage this duty outlay as well as credit terms with their broker, importers are encouraged to apply for and begin managing their own duty payments to CBP with the assistance of their broker through the statement process.
In recent years, the United States government and Customs and Border Protection (CBP) have taken a closer look at goods imported into the United States that are potentially made from forced labor or child labor. The goal of this increased scrutiny is to ensure the United States is involved in a fair and competitive trade environment.
On August 25, 2018, National Motor Freight Traffic Association, Inc implemented a change in the National Motor Freight Classification (NMFC) of cleaning compounds under NMFC 48580. Prior to August 25, NMFC 48580 had three subclasses: 100, 70 and 55. Now, all cleaning compounds are under a single sub class (sub class 70).
In August 2018, Chris Moore, Vice President of Sales and Customer Solutions for Prime Distribution Services, An Ascent Global Logistics Company, participated in a Greater Bentonville Chamber of Commerce Fireside Chat to discuss topics related to retail consolidation and e-commerce.
In May 2016, the American Manufacturing Competitiveness Act was enacted, which established a new process for “the submission and consideration of petitions for temporary duty suspension and reductions.”
When is the last time you asked yourself if you are getting the best deal for your partial truckload freight? In the past, it has been common practice for shippers to book multiple partial shipments independently. However, optimizing and consolidating partial shipments that are destined for the same geographic regions could save shippers time and money.
With all the recent updates to tariffs, Ascent Global Logistics hopes to provide key information that will allow you to maintain peak supply chain performance. Currently, there are three main lists of tariffs of U.S. imports from China that you should be familiar with: