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Paul Fitzpatrick Examines The Trade Facilitation And Trade Enforcement Act of 2015

  • Logistics Insights, Regulatory Updates

As part of a recent video series, Paul Fitzpatrick, Managing Director of Global Trade Management, discusses key point regarding the “Trade Facilitation and Trade Enforcement Act of 2015.”

Back in December 9, 2015 Congress reached a final agreement on H.R. 644, the “Trade Facilitation and Trade Enforcement Act of 2015.”  The bipartisan, bicameral trade legislation was created to authorize U.S. Customs and Border Protection to put in place effective tools to: (a) strengthen trade enforcement at the border; and, (b) facilitate the efficient movement of legitimate trade and travel. The Bill went to the President for signature, was signed, and a statement was released by The White House Press Secretary on February 24, 2016.

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Retail Imports Up As Holiday Shoppers Head To Stores

  • Global Logistics, Ocean Market

Source: National Retail Federation

With the holiday shopping season officially under way, imports at the nation’s major retail container ports are expected to be up 4.4 percent this month over the same time last year and should see a slightly larger increase next month, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

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Insight on Trade Agreements including the Trans-Pacific Partnership

  • Logistics Insights, Regulatory Updates

Paul Fitzpatrick, MIQ Managing Director of Global Trade Management, recently presented on the Trans-Pacific Partnership and other trade agreements.

The TPP is a trade agreement among 12 Pacific Rim countries signed on February 4, 2016 in Auckland, New Zealand after 7 years of negotiations.  The TPP will create the world’s largest free-trade zone. The countries within its scope account for 40% of the world’s economic output. The Agreement will not enter into force until ratified by the respective governments.

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U.S. Economic Snapshot

  • Economic News

“The U.S. LEI increased in September, reversing its August decline, which together with the pickup in the six-month growth rate suggests that the economy should continue expanding at a moderate pace through early 2017,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “Housing permits, unemployment insurance claims, and the interest rate spread were the main components lifting the index in September. Overall, the strengths among the leading indicators are outweighing modest weaknesses in stock prices and the average workweek.”  – The Conference Board

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The Employment Situation – October 2016

  • Economic News

Bureau of Labor Statistics 

Total nonfarm payroll employment rose by 161,000 in October, and the unemployment rate was little changed at 4.9 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in health care, professional and business services, and financial activities.

The unemployment rate, at 4.9 percent, and the number of unemployed persons, at 7.8 million, changed little in October. Both measures have shown little movement, on net, since August 2015.

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October 2016 Manufacturing ISM Report On Business

  • Economic News

Institute for Supply Management

Economic activity in the manufacturing sector expanded in October, and the overall economy grew for the 89th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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ATA Truck Tonnage Index Fell 5.8% in September

  • North America Transportation

American Trucking Associations

American Trucking Associations’ advanced seasonally adjusted (SA) For-Hire Truck Tonnage Index contracted 5.8% in September, following a 5% rise during August (a slight downward revision from our press release last month). In September, the index equaled 132.7 (2000=100), down from 140.8 in August. The all-time high was 144 in February.

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Cass Freight Index Report – September

  • North America Transportation

Cass Information Systems, Inc.

After offering a glimmer of ‘less bad’ hope in August (only down 1.1% YoY and up 0.4% sequentially), the Cass Freight Index shipments data in September disappointed, providing hindsight that August only gave us ‘false hope.’ September data is once again signaling that overall shipment volumes (and pricing) continued to be weak in most modes, with increased levels of volatility as all levels of the supply chain (manufacturing, wholesale, retail) continue to try and work down inventory levels. That said, there have been a few areas of growth, mostly related to e-commerce, with lower levels of expansion being experienced in transit modes serving the auto and housing/construction industries. All of this added up to lower shipment volume in September on a YoY (Year-over-Year) basis, marking the nineteenth straight month of year-over-year decline. Bottom line, the Industrial Recession in the U.S. that began in March of 2015 continues to weigh on overall volumes.

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Manufacturing and Trade Inventories and Sales

  • Economic News

U.S. Census Bureau 

Sales. The U.S. Census Bureau announced today that the combined value of distributive trade sales and manufacturers’ shipments for August, adjusted for seasonal and trading-day differences but not for price changes, was estimated at $1,304.1 billion, up 0.2 percent (±0.2%)* from July 2016, but was virtually unchanged (±0.5%)* from August 2015.

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Hanjin Update – Oct 2016

  • Hanjin Bankruptcy

Hanjin Shipping, the world’s seventh-largest container shipper, filed for Bankruptcy protection on August 31.  On September 6, 2016, the Bankruptcy Court for the District of New Jersey issued a blanket stay of collection or enforcement efforts against Hanjin or its assets in the U.S. Three days later, the Court established a protocol for cargo interests to claim their cargo from Hanjin or third parties such as terminal agents, warehousemen or others. Unfortunately, the protocol did not address all of the issues.

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