Ascent Global Logistics Blog

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How Tariffs Could Impact Import Volumes and Gift Prices This Holiday Season

Posted by Ascent Global Logistics on Nov 13, 2019 10:31:44 AM

If you are one of the many shoppers looking for deals this holiday season, prices may be higher than expected due to new tariffs on imported goods. These tariffs are likely to impact both import shipping volumes and prices of goods throughout this holiday season. 

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Topics: Import, Holiday, Tariffs, Trade

USTR to Begin Accepting List 4 Tariff Exclusion Requests on October 31

Posted by Ascent Global Logistics on Oct 24, 2019 2:19:24 PM

The USTR (United States Trade Representative) has announced that on October 31, 2019, it will begin to accept tariff exclusion requests for Chinese imports that are subject to an additional 15 percent tariff (List 4), which went into effect on September 1, 2019. 

Exclusion requests will be received via the USTR exclusion request processing portal. Details regarding the application process will be published in the Federal Register next week. 

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Topics: Tariffs, Trade, International

$7.5 Billion in U.S. Tariffs Enacted Today on Specialty Foods From The EU

Posted by Ascent Global Logistics on Oct 18, 2019 4:15:00 PM

U.S. tariffs totaling to $7.5 billion will be enacted on the European Union today. Producers of specialty food products such as Italian Parmesan, French wine and Spanish olives have been put on the bargaining table as recompense for the illegal EU Airbus subsidies reported earlier this month. 

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Topics: Tariffs, Trade, International

Trade Negotiations with Turkey Halted: Steel Tariffs Raised to 50%

Posted by Ascent Global Logistics on Oct 15, 2019 3:30:00 PM

The U.S. administration has halted trade negotiations and doubled Turkish steel tariffs in response to Turkey's advance into Syria on Monday, October 14. The proposed $100 billion trade deal with the country is on hold due to the advance. 

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Topics: Tariffs, Trade, International

Miscellaneous Tariff Bill Portal Opening October 11

Posted by Ascent Global Logistics on Oct 9, 2019 9:54:15 AM

The current Miscellaneous Trade Bill (MTB) (H.R. 4318) is in place through December 31, 2020. However, the USITC is opening the new MTB Portal this Friday, October 11, 2019 to allow U.S. manufacturers and importers an opportunity to include products on the list for consideration over the next year.

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Topics: Tariffs, International Trade Commission, International

Tariff Update: WTO Grants U.S. Permission to Impose $7.5 Billion of Tariffs on EU Goods

Posted by Ascent Global Logistics on Oct 2, 2019 4:15:00 PM

This week, the United States was granted permission by the World Trade Organization (WTO) to impose up to $7.5 billion of annual tariffs on goods from the European Union. This action provides the U.S. administration with the ability to tax wine, airplanes and other goods exported from Europe to the United States.

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Topics: Updates, Tariffs, Trade, International

Weather Alert: Hurricane Dorian

Posted by Ascent Global Logistics on Sep 4, 2019 8:08:33 AM

Weather Alert: Hurricane Dorian

Please note that Hurricane Dorian's landfall is impacting port, rail and over-the-road operations across the Southeast. Below are the latest updates:

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Topics: Tariffs, Trade, International

Modification to S301: 10 Percent to 15 Percent

Posted by Ascent Global Logistics on Aug 30, 2019 5:20:59 PM

Modification to S301 Tariffs: 10 Percent to 15 Percent

The highly anticipated Federal Register notice was published today, confirming that "List 4A" of the S301 will go into effect on September 1, 2019 at the rate of 15 percent for the products of China covered by the $300 billion tariff action. On August 20, 2019, 84FR43304 was published, stating that Annex A would be 15 percent effective September 1, 2019 and Annex C would be 15 percent effective December 15, 2019.

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Topics: Tariffs, Trade, International

Section 301 Tariff Update: Increases Announced for List 3 and List 4

Posted by Ascent Global Logistics on Aug 27, 2019 6:10:54 PM

Section 301 Tariff Update: Increases Announced for List 3 and List 4

In an announcement on Friday, August 23, 2019, the USTR (United States Trade Representative) advised that Section 301 List 3 tariffs will be increasing from 25 percent to 30 percent effective October 1, 2019, following a notice and comment period. List 3 is comprised of approximately $250 billion worth of Chinese imports and was first implemented on September 24, 2018 at 10 percent. On May 10, 2019, the List 3 duty rate increased to 25 percent.

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Topics: Import, Tariffs, Trade, International

How to Navigate TFTEA and NAFTA Regulations During the Duty Drawback Process

Posted by Ascent Global Logistics on Aug 20, 2019 10:11:53 AM

The Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) is an authorization of CBP’s trade authority and was enforced to create an environment for fair, honest and competitive trade in the United States. Section 906 of TFTEA made a comprehensive set of changes to drawback claim filing. Even though TFTEA was only signed into law in 2016, it is necessary to know these recent changes since it greatly effects the drawback application process.

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Topics: Export, Import, Tariffs, Trade, International