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DECEMBER 2019 MANUFACTURING ISM® REPORT ON BUSINESS®

Source:  Institute for Supply Management – January 3, 2020 Release

Economic activity in the manufacturing sector contracted in December, and the overall economy grew for the 128th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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China Tariffs: USTR Issues Extension for Specific Product Exclusions

On December 23, 2019, the United States Trade Representative (USTR) issued a Notice of Product Exclusion Extension extending, for one year, 6 of the 31 exclusions originally issued on the first list of Product Exclusions: December 28, 2018.  Only the 6 item exclusions listed below will be extended for one year. The remaining 25 item exclusions have expired.

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CTPAT: Portal Update to Include New Minimum Security Criteria

On Thursday, December 19, 2019, U.S. Customs and Border Protection (CBP) issued an update on the new Minimum Security Criteria (MSC) in CSMS Message 41052241. The message is addressed to CTPAT members and provides important information on the effective date for the MSC, along with how to find the new requirements and when you can update your profile with the new information.

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China Tariffs: December 17 List 3 Exclusions Announced

On Tuesday, December 17, 2019, the United States Trade Representative (USTR) office released a new list of product exclusions to the Section 301 List 3 products currently subject to a 25% tariff in the  Federal Register Notice 84 FR 69012

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Revised United States-Mexico-Canada Agreement (USMCA) Signed

On December 10, 2019, a revised version of the USMCA was agreed upon and signed by the United States, Mexico and Canada.  The USMCA, which is set to modernize the North American Free Trade Agreement (NAFTA), was initially agreed upon and signed in 2018.  USMCA updates provisions on agriculture, automobiles, textiles, apparel, rules of origin, communications technology, intellectual property rights, low-value shipments, digital trade, currency and other issues.

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China and United States Reach Phase 1 Deal – List 4B Canceled

On Friday, December 13, 2019, the United States Trade Representative (USTR) announced a  Phase 1 Trade Agreement  with China.  This enforceable agreement requires structural reforms to China’s economic and trade regime in the areas of intellectual property, technology transfer, agriculture, financial services, and currency and foreign exchange.

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Retail Imports Surged in November Ahead of December Tariffs

Source: National Retail Federation Press Release – December 9, 2019

Volume at the nation’s major container ports bumped up significantly in November as retailers imported merchandise ahead of new tariffs set to take effect this month, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

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CHINA TARIFFS: LIST 4B STARTS DECEMBER 15, 2019

Reminder:  On December 15, 2019, the China List 4B Tariffs will go into effect at 15%. These tariffs were first posted in the Federal Register Notice 84 FR 43304  dated August 20, 2019.  This list was modified on August 30, 2019, in Federal Register Notice 84 FR 45821 increasing the tariff rate to 15% from 10%. List 4B includes products such as cell phones, laptop computers, video game consoles, certain toys, computer monitors, and certain items of footwear and clothing.

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China Tariffs: Additional List 3 Exclusions Announced

On Friday, November 29, 2019, the United States Trade Representative (USTR) office released a new list of product exclusions to the Section 301 List 3 products currently subject to a 25% tariff in the Federal Register Notice 84 FR 65882.

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November 2019 Manufacturing ISM® Report On Business®

Source: Institute for Supply Management – December 2, 2019 Release

Economic activity in the manufacturing sector contracted in November, and the overall economy grew for the 127th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

Read More