In response to a new security law imposed by China on the citizens of Hong Kong, the Trump Administration on July 14 removed the special trading privileges that had been in place for Hong Kong, and changed them to reflect the current trading relationship with the People's Republic of China.
3 min read
What You Need To Know About The New USMCA
June 30, 2020 marked the end of the North America Free Trade Agreement (NAFTA). The NAFTA was put into place in 1994 to bolster trade between the US, Canada, and Mexico by reducing or eliminating trade barriers — primarily tariffs (duties). The agreement increased trade between the three nations from $290 billion in 1993 to more than $1.3 trillion in 2017.
Topics: International
8 min read
Tariff Update: Exemptions Expire On Nearly 100 Chinese Products
Nearly 100 items have lost their previous exemption status from China 301 tariffs. The sudden loss of exemption status for these products went into effect on July 9.
Topics: International Tariffs
2 min read
How To Keep Import History & Volume Confidential For 2 Years At A Time
We get asked many times a year by clients how they can keep their import shipment history confidential.
US Customs has created a new portal where companies can request confidentiality for their shipment history, including origins, product variety, volumes and numerous other data elements. This system allows shippers to protect their sensitive commercial data from their competitors.
Topics: International
3 min read
Guide To Incoterms 2020: What Shippers Need To Know
On January 1, 2020 Incoterms 2020 went into effect. These rules from the International Chamber of Commerce (ICC) establish guidelines for how shipments are handled between buyers and sellers in different countries.
Topics: International
9 min read
COVID-19 Impact On Transportation Service Updates
Update: 4/8/2020 Capacity in the LTL markets are currently available to meet the majority of customer needs. This is especially true when it comes to essential goods that are moving to retailers. Even when it comes to meeting MABD and OTIF agreements with retailers, Averitt is positioned to ensure that shippers meet their delivery windows.
Topics: International
5 min read
USMCA: How The 'New NAFTA' Will Impact The Trucking Industry
On January 16th, the long-delayed United States-Mexico-Canada Agreement (USMCA) was passed by the United States Senate by a vote of 89 to 10. On January 29th, President Trump signed it into effect. This agreement, drawn up as a replacement for the North American Free Trade Agreement (NAFTA) of 1994, offers many modifications that are expected to provide an uptick in cross-border trade.
Topics: International
2 min read
How the Coronavirus is Impacting Shipping Options
In addition to the human toll, the spread of the deadly Coronavirus has created challenges for international supply chain operations.
Topics: International
2 min read
Tariff Update: New Tariffs on Steel & Aluminum Products
In a Presidential Proclamation published on January 29, President Trump announced that additional Section 232 tariffs of 25 percent on steel and 10 percent on aluminum are being applied on derivative articles that circumvent existing duties.
