On Friday March 23rd, President Trump signed the omnibus spending bill which included language for Generalized System of Preferences (GSP) renewal. GSP will be reinstated on April 23rd (30 days after enactment) and valid through December 31st, 2020. GSP will also apply retroactively to entries from January 1st through the reinstatement date.
News / Supply Chain Alerts
The most recent Nor’easter of the season is impacting logistics from Washington D.C. to Boston.
The latest storm summary from NOAA (National Oceanic and Atmospheric Administration) shows snow accumulation throughout 9 states, with some of the heaviest accumulation for Virginia, West Virginia, Maryland, Pennsylvania, New Jersey and New York.
With snow expected to continue for the New York and New Jersey, and Washington D.C. areas from Wednesday into Thursday, there have already been hundreds of flight cancelations and port closures. Below is a summary of what is being reported as of Wed (3/21).
The President announced today that he concurred with the Commerce Department’s findings in its Section 232 investigations that imports of steel and aluminum impair national security. Pursuant to the recommendations contained in the Commerce Department’s Report, the President ordered a 25 percent ad valorem tariff on steel articles and a 10 percent ad valorem tariff on aluminum articles, as defined below, imported from all countries except Canada and Mexico. These additional duties will be effective with respect to goods entered, or withdrawn from warehouse for consumption, on or after 12:01 a.m. eastern daylight time on March 23, 2018.
This is a follow-up to our February 22, 2018 Supply Chain Alert regarding the Commerce Department report on the results of the Section 232 investigation concerning the effects of imports of steel and aluminum on national security. The President is required to make a decision on the steel recommendations by April 11, 2018, and on the aluminum recommendations by April 19, 2018.
The Commerce Department on February 16, 2018 released the results of the Section 232 investigation on the effects of imports of steel and aluminum on national security. The President is required to make a decision on the steel recommendations by April 11, 2018, and on the aluminum recommendations by April 19, 2018.
This is our latest update on the tightening North American intermodal and drayage market. Because of the importance of this situation, MIQ Logistics has created a dedicated page on our website which can be accessed here. This page will contain carrier updates as well as an archive of industry articles pertaining to the ongoing issues and the contributing factors.
MIQ Global Houston office is closed for today (Jan 16th) due to inclement winter weather. According to the National Weather Service the Houston area is currently under a Winter Storm Warning for northern portions of the Houston area, while a Winter Storm Advisory is in effect for southern portions of the area. These advisories are in effect until midnight tonight, but may be replaced by a Hard Freeze Warning before this afternoon. Due to the fact that the National Weather Service has advised to avoid traveling, our MIQ Global Houston office will remain closed.
Over the last few weeks operations within MIQ Logistics have been experiencing a tightening of the intermodal drayage market, especially throughout certain regions of the U.S. Drayage demand is currently outpacing capacity, and there are several factors, both new and old that are contributing to increased pricing and equipment shortages.
Capacity shortages within the truckload and intermodal markets have been an ongoing topic in supply chain for the last few years. There have been numerous publications that have listed out the factors contributing to these shortages. These factors range from a shortage of qualified long-haul drivers, to equipment shortages, and government regulations. On Monday, December 18th the ELD (Electronic Logging Device) mandate will take effect. This mandate has the potential to tighten truckload capacity even further; which could have a rippling effect on inland transportation.
With multiple fires actively being fought by firefighters in two counties near Los Angeles, MIQ Logistics wanted to notify our customers of the latest reports that are being released, and current impacts to road closures within the area.