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

Insuring Overseas: Your Guide to International Cargo Insurance

Posted by Ascent Global Logistics on Nov 4, 2019 4:05:14 PM

Trading globally involves risks, but having international cargo insurance is one of the best ways to offer peace of mind to both the buyer and the seller. Ascent Global Logistics wants your shipments to be monetarily safeguarded against physical loss or damage while in transit. If you have shipped many times before, or are new to the international shipping trade, it is worthwhile to review how insurance can help your company be protected.

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Topics: INCOterms, Export, Import, Cargo Insurance, Trade, Compliance, International

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

How IMO 2020 Could Impact Mega-Ships, Carriers and Ocean Freight Rates

Posted by Ascent Global Logistics on Oct 16, 2019 3:22:00 PM

In case you missed it, the International Maritime Organization (IMO) is implementing a new sulfur emission rule in 2020. This is expected to directly impact fuel, but it could have much further impacts across the shipping industry. With just over two months until implementation, our team is here to help supply chain managers plan for the impending changes approaching with the New Year.

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Topics: Trade, Shipping, 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

Compliance Circular: October 2019

Posted by Ascent Global Logistics on Oct 8, 2019 12:46:32 PM

Section 321 Entries – Voluntary Pilot in Place

In the Tariff Act of 1930, U.S. Customs and Border Protection (CBP) authorized an exemption of duty and taxes under Section 321(a)(2)(C) for goods not over a designated value. Originally, that value was $200 - one $200 shipment per person per day, with minimal documentation required for entry. On February 24, 2016, the de minimis value was increased to $800 – one $800 shipment per person per day. This increase was part of the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) and CBP implemented and met all TFTEA requirements by August of 2016.

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Topics: Trade, Compliance, International Trade Commission, International

Norfolk Southern Service Suspended: Bridge Collapse

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

Updated 10/4/2019:

Norfolk Southern services between Kansas City, MO and Moberly, MO are still suspended due to the collapse of the Grand River Bridge in Brunswick, MO on Wednesday, October 2.

Recovery efforts continue to restore services; however, current estimates suggest that Norfolk Southern's route to Kansas City will be unavailable through the remainder of October 2019

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Topics: Weather, Domestic, Updates, Trade, 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: Tropical Storm Mitag

Posted by Ascent Global Logistics on Oct 2, 2019 11:30:00 AM

Updated 10/8/2019:

Tropical Storm Mitag has caused delays of about 3-6 days for large vessels around Shanghai and Ningbo.

To read more about the storm, click here

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Topics: Weather, Updates, Trade, International