On Tuesday, July 9, 2019, the United States Trade Representative (USTR) office released a sixth Notice of Product Exclusions to Section 301 List 1 products currently subject to a 25% tariff.
Imports at the nation’s major retail container ports will remain at high levels this summer but are expected to grow only modestly compared with last year’s rush to bring merchandise into the country ahead of scheduled tariff increases, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Retailers still want to protect their customers against potential price increases that would come with any additional tariffs, but with the latest proposed tariffs on hold for now and warehouses bulging, there’s only so much they can do,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “We will still see some near-record numbers this summer, but right now no one knows whether there will be additional tariffs or not. We hope the restarted negotiations with China will result in significant reforms rather than more tariffs that tax American companies and consumers.”
Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 122nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Saturday, June 29, 2019, the White House announced that the fourth tranche of tariffs on $300 billion worth of imports from China would not be implemented as China and the United States continue to pursue a fair trade deal.
During the month of June 2019, MIQ was involved in a number of events throughout the logistics industry. Read industry updates, regulatory updates, and services offered by MIQ, in the June 2019 logistics link.
On Thursday, June 20, 2019, the United States Trade Representative (USTR) published the procedure on how to request an exclusion of particular products from the Section 301 List 3 tariffs against China starting on Sunday, June 30, 2019.
Imports at the nation’s major retail container ports are expected to continue to grow this summer as retailers stock up inventory to get ahead of higher tariffs, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“With a major tariff increase already announced and the possibility that tariffs could be imposed on nearly all goods and inputs from China, retailers are continuing to stock up while they can to protect their customers as much as possible against the price increases that will follow,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
On Friday, June 7, 2019, the President of the United States announced that the proposed 5 percent Mexico tariffs would be “indefinitely suspended” as Mexico has “agreed to take strong measures” to curb the flow of Central America migrants into the United States.
On Thursday, May 30, 2019, the United States Trade Representative office released a fifth Notice of Product Exclusions to Section 301 List 1 products currently subject to a 25 percent tariff.
On Friday, May 31, 2019, the President of the United States signed a Proclamation to Modify the List of Beneficiary Developing Countries which removes India from the Generalized System of Preferences (GSP) effective June 5, 2019. This action is a follow-up to the initial announcement on March 4, 2019. By statute, a 60-day notice to the U.S. Congress and India was required before the removal from GSP could become effective.