The trade ministers from the 12 participating TPP countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam) after five (5) days of round-the-clock negotiations in Atlanta agreed on Monday, Oct 5, 2015 to the largest regional trade agreement in history. The final sticking points in Atlanta centered on the length of market protections for an emerging class of pharmaceuticals, tariffs for dairy products and rules governing how to classify where automobiles are manufactured.
The TPP still faces months of debate in Congress even as presidential candidates, labor unions and liberal activists line up to oppose the agreement. On the other hand, Congress gave the president “fast track” trade promotion authority (TPA) in June, which guarantees that trade agreements will receive expedited consideration in Congress and a yes-or-no vote without amendments or filibusters.
The full text of the Agreement’s thirty (30) chapters will not be available for a month. Under the terms of the fast-track legislation, the president must wait 90 days after the TPP agreement is completed before he signs it and sends it to Congress for a vote, and the text of the accord must be made public for at least 60 of those days.
For more information, please contact your local MIQ Logistics representative.
The U.S. Customs & Border Protection announced this week they are delaying the mandatory migration date of the Automated Commercial Environment (ACE) to February 2016. Please keep in mind these two deadlines:
- November 1, 2015 is the beginning of the transition period for using ACE for all electronic cargo release and related entry summary filing.
- February 28, 2016 is the mandatory use date of ACE for all remaining electronic portions of the CBP cargo process, as ACS will no longer be available.
Four more fires broke out today at the industrial park where the Tianjin explosion occurred on August 12th. One fire was reported to have occurred in a logistics site for vehicles, and the other three fires were reported within the central blast area.
Also reported today was an increase to the death toll, which has now reached 116, with 60 people still missing.
MIQ Logistics has been providing updates on the logistics situation in Tianjin, since the explosion occurred last Wednesday, August 12th. The latest reports indicate that 114 people were killed in the blast, including 39 firefighters. As of this morning at least 70 people remain unaccounted for, and at least 700 have sustained injuries from the explosion. There are additional reports regarding the concerns around both air and water contamination near the site.
In the 36 hours since MIQ’s last Supply Chain Alert, there have been many new details surfacing in the aftermath of the Tianjin explosion.
While there are many details that are still unknown, MIQ Logistics would like to report to you what we do know at this time.
A large explosion took place at 11:30 p.m. local time in the port city of Tianjin, located in Northern China. According to state-run Xinhua news, the explosion originated in a container warehouse that was storing “dangerous goods” in the Binhai District of Tianjin. Reports from Xinhau news have indicated that the initial explosion led to further damage to nearby companies.
Over the last few weeks there have been two separate trade related bills making headlines.
Both the Trade Promotion Authority (TPA) and the Trade Adjustment Assistance (TAA) have the potential to help American workers. Understanding the purpose of each bill, and where the bill is at in Congress, can become a bit complicated. To help sift through the acronyms and related details, we have provided you a definition of each bill, as well as where the bill stands in the legislative approval process currently.
After nearly 11 months, the Pacific Maritime Association (PMA) and the International Longshore & Warehouse Union (ILWU) have announced a ratification of a new five-year contract.
CBP announced that the next phase of its Importer Security Filing (ISF) enforcement will begin on May 14, 2015. This marks the end of the final one-year limited liquidated damage (LD)/”three strikes” phase of a six-year evolution of ISF enforcement. In summary, here is what will change:
Trade Agreements Put on Fast Track
The Bipartisan Congressional Trade Priorities and Accountability Act (TPA)  introduced by Senate Finance Committee Chairman Orrin Hatch (R-Utah), Ranking Member Ron Wyden (D-Ore.) and House Ways and Means Chairman Paul Ryan (R-Wis.) easily passed its first hurdle when both House and Senate committees agreed to give President Obama fast-track authority to negotiate trade deals such as the Trans Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (T-TIP). The bipartisan legislation also allows Congress to vote on the treaties. But the package of bills intended to speed completion of the deal also imposes difficult burdens on its negotiators. The legislation faces difficult fights over amendments on human trafficking, currency and investor-state dispute settlement (ISDS).