On January 15, the US and China signed a long-awaited trade deal. For the first time in over 2 years, we have interrupted the forward march of increasing duties across a wider and broader scope of products that are imported from China.
2 min read
Tariff Update: China Trade Deal (Phase 1) - What Happens Now?
Topics: International Tariffs
5 min read
3 Major Transportation Trends to Watch in 2020
The last few weeks have shown that the volatility we saw earlier in 2019 is far from over. From high profile bankruptcies to the announcement (and debate) of a new North American Free Trade Agreement, many factors are working together to create widespread uncertainty in the industry. But despite this, there are a few key areas where the lessons of 2019 can show us where impacts will likely be felt by carriers and shippers alike.
Topics: International
1 min read
Tariff Update: Phase One Deal Reached With China
President Trump announced on Friday, Dec. 13 the details of a
Phase One
trade deal reached with China that will result in the additional 15% duty on what is known as List 4B will NOT go into effect as planned. In addition, the increase of List 4A duties from 15% to 25% that was scheduled to take effect on Dec. 15 will also not go into effect.
Topics: International Tariffs
1 min read
Tariff Delay = Tariff Relief
Over the weekend, President Trump announced via Twitter that he would be delaying "indefinitely" the increase of 5% duties that was scheduled to go into effect on Oct. 15 for all goods covered by Lists 1-3 and 4A. He is also postponing indefinitely the application of List 4B which was scheduled to go into effect on Dec. 15.
Topics: International Tariffs
5 min read
The Global Supply Chain Shuffling Game
As trade tensions between the world's two biggest economies continue, companies around the world are moving to reduce their dependence on Chinese factories.
Topics: International
1 min read
All Sec. 301 China Duties to Increase an Additional 5%
The trade dispute between China and the US heated up again on Friday as China announced their intent to raise the amount of duties they collect on US goods by 5-10% on roughly $75 billion of trade. President Trump tweeted he would have a reply by the end of the day, and true to his word, he announced that he was adding 5% to all of the previously enacted or announced duties, including the List
4-A
and
4-B
products. The official statement from the US Trade Representative can be found
HERE. There has not been an announcement in the Federal Register as yet, but that will be coming probably later this week.
Topics: International Tariffs
2 min read
China Tariffs: List 4 is Coming!
The USTR just posted yesterday an announcement on their website that the feared List 4 group of products ($300 Billion) will be hit beginning Sept 1. The listing, however, has been split into 2 parts, which are being called List 4A (Click here to view), and List 4B (Click here to view). List 4A will be charged at 10%, but is planned to rise to 25% on December 15 when List 4B is effective.
Topics: International Tariffs
3 min read
Sec. 301 Duties: How to Benefit from an Exclusion
There have been a lot of questions regarding Sec. 301 duties, and how they apply (or not) to our clients' import products. A comprehensive list of all tariff numbers subject to the various tariff actions known as Lists 1-4 can be viewed here. Lately, there has been a big push for companies to see if their products will be eligible for an official exclusion from these additional costs. We have tried to summarize the main points below regarding the current state of these exclusions and how to go about applying for one if you choose.
Topics: International Tariffs
2 min read
Receiving Notices To Increase Continuous Bond Amount?
Ever since the new 25% tariffs on China have gone into effect, many importers are receiving notices from their bonding company or from Customs directly that say the importer's current Continuous Bond amount is no longer sufficient, and it must be raised (rather quickly) to a new, higher minimum amount. Please do not ignore these notices!
