Source: National Retail Federation Press Release – November 9, 2020
Imports likely saw their busiest “peak season” on record this summer and fall as retailers replenished inventories and stocked up for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
Source: Institute for Supply Management – November 2, 2020
Economic activity in the manufacturing sector grew in October, with the overall economy notching a sixth consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
Effective October 1, 2020, U.S. Customs and Border Protection (CBP) adjusted certain customs user fees pursuant to the Consolidated Omnibus Budget Reconciliation Act (COBRA) for fiscal year 2021 in accordance with the Fixing American’s Surface Transportation Act (FAST Act) as implemented by CBP regulations.
Source: National Retail Federation Press Release – October 8, 2020
Imports reached an all-time high this summer as retail sales bounced back from the pandemic and merchants replenished inventories and stocked up early for the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
On Friday, October 2, 2020, the United States Trade Representative (USTR) office announced in a press release that it is “initiating an investigation addressing two significant issues with respect to Vietnam.”
Source: Institute for Supply Management – October 1, 2020
Economic activity in the manufacturing sector grew in September, with the overall economy notching a fifth consecutive month of growth, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Thursday, October 1, 2020, U.S. Customs and Border Protection (CBP) released CSMS Message 44279197 to inform the trade of the expiration of the Caribbean Basin Trade Partnership Act (CBTPA).
Ocean Freight rates on the Asia to US trade lane and specifically to the US West Coast are at record high levels after two months of continuous increases. Rates are anticipated to stay elevated throughout the duration of this peak season. A variety of market forces and unique economic circumstances have combined to push rates to unprecedented levels in 2020.
On September 15, 2020, the United States Trade Representative (USTR) office announced in a Statement on Canadian Aluminum that they will “resume duty-free treatment of non-alloyed, unwrought aluminum.” This change will be effective retroactively to September 1, 2020.
