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.
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.
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.
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.
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. While in transit, cargo is susceptible to natural disasters, severe weather, theft, pilferage, damage, fire and other challenges.
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.
Earlier this month, a fire broke out on the Hapag-Lloyd vessel Yantian Express as it departed from the Canadian port of Halifax. Crews immediately began attempts to extinguish the fire, however, the weather hampered efforts and there was severe damage to the vessel and cargo onboard.