Ascent Global Logistics Blog
As previously reported, the Chinese government announced the extension of the Chinese New Year Holiday until February 3, 2020, in hopes of containing the outbreak of the coronavirus.
On January 16, 2020, the United States Trade Representative (USTR) announced the reduction of the additional tariff on Section 301 List 4A goods from 15 percent to 7.5 percent, beginning at 12:01 AM on February 14, 2020.
Phase One Trade Agreement Signed
In a historic moment, a Phase One Trade Agreement was signed on January 15, 2020, between China and the United States, shining a positive light on the ongoing trade war between the two economic powerhouses.
This year, the Chinese New Year (CNY) holiday is starting early and will occur from January 24 through January 30. It’s not surprising that as the world’s number one exporter celebrates its major holiday, shipping delays can be expected, in some cases, even weeks after the holiday ends.
On December 5, 2019, the Commodity Classification Standards Board (CCSB) posted amendments to the National Motor Freight Classification (NMFC) class codes. These amendments will go in effect on January 4, 2020.
Each week, the trade community watches the giant chess match between China and the United States, seeing who will make the next move, who will potentially “win” the match or if the game will end in a draw.
When shipping urgent freight, time is of the essence. When there’s a hiccup in your supply chain, what do you do? Expedited shipping gives your organization a competitive advantage by providing a quick resolution to problems that arise.
The Canadian National Railway and the Teamsters Canada Union (TCRC) are currently engaging in contract negotiations to avoid a potential strike. The TCRC represents roughly 3,000 of Canadian National Railway’s conductors, train persons and yard persons.
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.