From NAFTA to USMCA: What Will Change?

Posted on February 27, 2020. Category: Trade Publications

The North American Free Trade Agreement (NAFTA) is the current free trade agreement among the United States, Canada, and Mexico, and will soon be replaced with the United States—Mexico—Canada Agreement (USMCA). NAFTA went into effect in 1994, making favorable changes to encourage trade and production in North America. Since its inception, US exports to Canada have increased by almost 300%, and exports to Mexico have increased by over 500%.Approximately one-third of United States trade is with Mexico and Canada. With such a large volume of products crossing our neighboring countries’ borders, it is important to have an...

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Top 5 Reasons Why A Career in Logistics May Be Right for You

Posted on February 25, 2020. Category: Logistics Publications

The overall challenge of logistics is to ensure the transportation of the correct product to the right place, at the right time, at the right price. Why should you choose a career in logistics? All types of businesses whether they are big or small, require logistic specialists, coordinators, and managers to keep the business world moving.The Kangan Institute states that the following are the 5 top reasons you should consider a career in logistics.      StabilityAs times are changing, one of our main focuses on selecting a career is stability. It is very easy to...

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Reverse Engineering in Supply Chain: White House Discussing Block of Increased GE Jet Engine Sales to China

Posted on February 19, 2020. Category: Logistics Publications, Trade Publications

In an ever-competitive global market, industries have looked toward any slight advantage over rival businesses. One method of bridging gaps in tech or design in your product is through a method known as reverse engineering. Merriam-Webster defines reverse engineering as, “to disassemble and examine or analyze in detail to discover the concepts involved in manufacture usually in order to produce something similar”.The Wall Street Journal and CNBC are reporting a White House discussion to potentially halt an increased number of engine deliveries into China by international business partners Safran SA and GE Aviation. As defined above, President...

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China Asks the U.S. to be Their Valentine

Posted on February 10, 2020. Category: Logistics Publications, Trade Publications

February 14th, Valentine’s Day, is quickly approaching and there is still time to get your beloved partner the perfect Valentine’s gift.  The classics – flowers, chocolates, dinner and a movie, and jewelry are all great options. However, nothing says “Be Mine?” more than tariff reductions.President Donald Trump’s plans to reduce tariffs on roughly $120 billion of Chinese imports from 15% to 7.5% will go into effect on February 14th.  While they do include Valentine’s favorites such as negligees, chocolate, and wine, they also contain most apparel and footwear.In return,...

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Shipping Market Takes the Hit from Coronavirus

Posted on February 07, 2020. Category: Logistics Publications, Trade Publications

The emergence of the coronavirus has shaken the supply chain industry, as retailers and shippers battle against a series of obstacles surrounding the outbreak. The coronavirus, causing pneumonia-like symptoms, is thought to have originated in the wild animal food markets of Wuhan city, one of China’s leading manufacturing centers. The Chinese government has taken efforts to minimize the spread of the deadly virus, which has already taken the lives of many and sickened thousands, by extending the Chinese New Year holiday until February 10th. This extension has already had a noticeable short-term impact on supply chains and will...

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Marketplace Facilitators: Economic Nexus Extends Reach into eCommerce

Posted on February 04, 2020. Category: Tax Publications

As ecommerce has exploded over the last two decades to become a pillar of our global economy, state and local taxing authorities have fought to expand the tentacles of sales tax as an effective and lucrative means of growing tax revenue with an expansive reach from coast to coast. With the advent of economic nexus after the Wayfair Supreme Court ruling, state taxing jurisdictions have expanded their taxing authority through marketplace facilitator legislation. These laws take aim at ecommerce and, specifically, at online marketplaces. With state purses filling up with the extra revenue realized from the success of taxing the...

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Chinese Logistics Specialist Speaks Out on Coronavirus

Posted on January 31, 2020. Category: Logistics Publications

Since January 23, Wuhan, China – a major industrial and transport hub in the inland Chinese province of Hubei – has experienced a deadly novel coronavirus that has already infected more than 7,900 people globally. Now, human beings are fighting with the disease.Source: https://weibo.com/dxydoctor?topnav=1&wvr=6&topsug=1&is_hot=1#_rnd1580363276893Overnight, British Airways announced that it would suspend all direct flights to and from mainland China, with others expected to follow. United Airlines, Cathay Pacific and Air Canada are amongst the other airlines that had already announced plans to reduce flight numbers....

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Trump Proclaims More Tariffs on Aluminum and Steel

Posted on January 30, 2020. Category: Trade Publications

On Friday, January 24, 2020, President Trump proclaimed that beginning February 8th, additional tariffs will be added to the pre-existing Section 232 of the Trade Expansion Act of 1962. In an attempt to bolster the domestic steel production rate, the president has imposed tariffs on articles derivative of steel and aluminum (articles that contain at least two-thirds of steel or aluminum). According to the proclamation, the expanded duty rates are as follows:An additional 25 percent ad valorem tariff will be imposed on imported steel articles of foreign manufacture such as nails, tacks, staples, and bumper and body stampings.(Excludes imports manufactured in Argentina, Australia,...

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Coronavirus Extends Wuhan Production Halt

Posted on January 29, 2020. Category: Logistics Publications, Trade Publications

The city of Wuhan is one of China's manufacturing centers. The automotive and steel industries have established a huge presence in Wuhan. Many tech companies as well as pharma companies have locations in or around Wuhan, which is now recognized as the center of the Coronavirus outbreak.Currently there is no transportation allowed, either in or out of Wuhan. If you are sourcing or manufacturing items in Wuhan, your supply chain is currently at a standstill.The issues and risk aren’t limited to Wuhan based factories. However, it remains to be seen how other cities will be...

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Top Five Mistakes to Avoid in Property Tax

Posted on January 27, 2020. Category: Tax Publications

Tangible Personal Property Tax OverviewCompanies who operate in or have tangible business personal property or inventory located in the US are required to file annual returns of such assets or inventory to local taxing authorities. These property tax returns include listing the year acquired and first cost of the assets (and inventory value for states that tax inventory).Many people don’t realize that a tax is paid on business assets every year as long as the assets are in use regardless of the company’s book depreciation. Local taxing authorities include counties, cities, and states who...

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