On February 4, 2020, United States Customs and Border Protection (CBP) issued a bulletin providing guidance related to the United States Trade Representative (USTR) Federal Register Notice 85 FR 3741 issued on January 20, 2020, which decreased the China List 4A tariff to 7.5% from 15%.
During the month of January 2020, Noatum Logistics (formerly MIQ Logistics) was involved in a number of events throughout the logistics industry. Read about industry updates, regulatory updates, retail supply chain solutions, and careers at Noatum Logistics USA in the January 2020 logistics link.
As of Thursday, January 30, 2020, several additional steps have been taken in an effort to contain the coronavirus. As previously mentioned, the China Government announced this week that Chinese New Year public holidays will be extended through February 2, 2020, with Shanghai, Ningbo, Hangzhou and Suzhou extended through February 9. As of this morning, the following cities and/or provinces will also remain closed through February 9: Chongqing, Jiangsu Province, Guangdong Province, Fujian Province.
On Friday, January 24, 2020, a presidential proclamation on derivative steel and aluminum was issued which extends the additional 25% tariff on steel and the additional 10% tariff on aluminum products to include derivative products that have seen a surge in imports.
On Monday, January 27, 2020, the China Government announced that the Chinese New Year (CNY) public holiday will be extended through February 2, 2020, (Shanghai, Ningbo, Hangzhou and Suzhou through February 9) as part of their efforts to contain the coronavirus outbreak. Ocean carriers have advised that the ports are operational, but to expect delays and changes to schedules. The following updates were received from ocean carriers on January 28.
On January 22, 2020, the United States Trade Representative (USTR) office announced in Federal Register Notice 85 FR 3741 that the China List 4A tariff will be reduced to 7.5% from 15% effective February 14, 2020.
On Wednesday, January 15, 2020, the United States and China signed a phase one trade agreement which will open Chinese markets and increase sales of U.S. goods and services to China. The largest portion of the agreement focuses on Chinese purchases.
Source: National Retail Federation Press Release – January 10, 2020
After a year of fluctuations driven by the uncertainty of the trade war with China, volume at the nation’s major retail container ports is expected to return to its usual seasonal patterns during the first few months of 2020, according to the Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
On Monday, January 6, 2020, 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 85 FR 549 .
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®.