China Imposes Tariffs Reductions
February 10, 2020.
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...
Read MoreShipping Market Takes the Hit from Coronavirus
February 07, 2020.
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...
Read MoreTrump Proclaims More Tariffs on Aluminum and Steel
January 30, 2020.
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...
Read MoreCoronavirus Extends Wuhan Production Halt
January 29, 2020.
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...
Read MoreDuty-Free as Tools of Trade
January 15, 2020.
Trade Publications
What do an MRI machine, a screwdriver, and a laptop have in common? A random assortment of goods for sure, but each of these products, as well as many other items, could be eligible for duty-free importation under the US Customs Provision: Tools of Trade. According to Customs and Border...
Read MoreWhat to Expect for Trade Compliance in 2020
December 17, 2019.
Trade Publications
The world of international trade continues to be in a state of constant change. Here are a few topics that will help shape the international trade landscape in 2020. 1. Regional Comprehensive Economic Partnership: The RCEP is a trade agreement launched in 2012 in Cambodia, that involves 16 Asian countries that together make one...
Read MoreWTO Approves Additional Tariffs on EU Aircraft
December 17, 2019.
Trade Publications
A trade battle that has spanned over a decade, the United States has been given the OK from the World Trade Organization to impose tariffs on European made aircraft. The main target is the aircraft manufacturer Airbus, the biggest competitor of the United States aircraft manufacturer Boeing. The United States...
Read MoreSection 301 Tariff Update
December 16, 2019.
Trade Publications
On December 13th President Trump reduced and suspended tariff changes that were due to take place on December 15th. The other 301 tariff lists are to remain at the current rate that they are in and will not be changed. The list 4b which includes all goods that were...
Read MoreSimplifying Incoterms 2020
December 10, 2019.
Logistics Publications, Trade Publications
International commercial terms (incoterms), are the guidelines for global trade around the world. To provide clarity in the contractual flow, we must understand the incoterms that are being used in the contract between the buyer and the seller for each transaction. Correctly understood incoterms ensure a smoother and effective process....
Read MoreLatest Tariff News
December 05, 2019.
Logistics Publications, Trade Publications
On Monday December 2, President Trump advised that his administration is considering tariffs as high as 100% on French goods in retaliation for a new Tax on digital services, greatly impacting U.S technology companies. The office of the U.S. Trade Representative deemed the tax discriminatory against U.S. companies. The...
Read MoreSection 301 News: Progress on Trade Talks
October 14, 2019.
Trade Publications
After negotiations last, week the U.S. and China have agreed on the first steps to de-escalate the trade war. The results of this talks are the following: Lists 1, 2, and 3 will not increase to 30% on October 15th, 2019 but will stay at 25%. As of right now, list 4B is still...
Read MoreMPF Increase in 2019
October 10, 2019.
Trade Publications
To account for inflation, US Customs and Border Protection (CBP) adjusted certain user fees on October 1, 2019. The minimum merchandise processing fee (MPF) will be increased to $26.79 from $25 and the maximum will be raised to $519.76 from $485. MPF is assessed by CPB for most imports into the US on an ad...
Read More