New Bill Could Repeal Federal Excise Tax (FET)
The Modern, Clean and Safe Trucks Act of 2019 would rescind the 12 percent FET, which was originally constituted to fund WWI. While the FET finances the Highway Trust Fund, it also reportedly adds between $12,000 and $22,000 to the price of each new truck. Learn more about the FET.
Vote on Oakland A’s Ballpark at Howard Terminal to Take Place on May 13
If approved by Port of Oakland commissioners, the baseball team will be given four years to perform an environmental impact report (EIR) and obtain any necessary documentation. The maritime industry worries that the construction of the stadium will hinder port traffic and pose safety risks. Read more about the proposal here.
S301 List 3 Tariff Rates Expected to Increase to 25 Percent
On May 5, the Administration announced that List 3 of the S301 tariffs, which are currently at ten percent of $200 billion of Chinese imports, are expected to increase to 25 percent effective Friday, May 10, 2019. For more about this week’s tariff updates, visit our blog.
Port Kembla’s $175 Million Gas Import Terminal Receives Approval
The Australian Government has endorsed the construction of a liquefied natural gas (LNG) terminal in New South Wales. According to the International Gas Union, Australia exported over 151 billion pounds of LNG in 2018. Read more about the terminal here.
GSP Not Discussed During Monday’s India-U.S. Meeting
GSP eligibility on import products originating from India was expected to be terminated on May 3, but no official decision was made during the May 6 meeting between the U.S. and India. For more about the meeting, click here.
Walmart Releases Inaugural Environmental, Social and Governance Report
Walmart’s inaugural Environmental, Social and Governance report disclosed that the retailer achieved a 6.1 percent decrease in scope one and two emissions in 2017 as compared to 2015. It was also announced that more than one thousand suppliers have officially signed on to Project Gigaton. View the full report here.
U.S. Shoppers Refer to Phones More Often Than Retail Associates
According to a survey released by RetailMeNot, 85 percent of Americans use their cell phones to make decisions while shopping in brick and mortar stores. For more on the survey, click here.
Statistic of the Week
The investment in equipment and infrastructure for the U.S. freight rail network since 1980, according to the Association of American Railroads. Click here for more stats.
Links of the Week
Catch up with the Ascent Global Logistics team at the below upcoming events:
2019 PPAI EXPO EAST
Atlantic City, NJ – June 3-5, 2019
2019 3PL AND SUPPLY CHAIN SUMMIT
Atlanta, GA – June 10-12, 2019
International Holiday Calendar