The Office of the United States Trade Representative (USTR) today released a list of products imported from China that will be subject to additional tariffs as part of the U.S. response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.
The list of products issued today covers 1,102 separate U.S. tariff lines valued at approximately $50 billion in 2018 trade values. This list was compiled based on extensive interagency analysis and a thorough examination of comments and testimony from interested parties. It generally focuses on products from industrial sectors that contribute to or benefit from the “Made in China 2025” industrial policy, which include industries such as aerospace, information and communications technology, robotics, industrial machinery, new materials, and automobiles. The list does not include goods commonly purchased by American consumers such as cellular telephones or televisions.
Source: National Retail Federation
Imports at the nation’s major retail container ports are expected to set record numbers this summer and fall even as the debate over trade and tariffs continues in Washington, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Consumers are buying more and that means retailers are importing more,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Imports continue to be the primary source of high-quality, mass-produced necessities at affordable prices and will be for the foreseeable future. If tariffs are imposed on consumer goods, that will only drive up prices for American families while doing little or nothing to punish those responsible for unfair trade practices.”
The MIQ Logistics team is working with Chemetics, a Jacobs company, that is currently delivering engineering, procurement and construction (EPC) services for a sulphuric acid plant project in Peru.
The International Longshoremen’s Association (ILA) has reached a tentative agreement on a six-year Master Contract with the United States Maritime Alliance (USMX). The current USMX-ILA Contract expires on September 30, 2018. The tentative agreement will remove much uncertainty and ensure labor accord through the year 2024 for the U.S. East Coast and Gulf Coast.
Source: Institute for Supply Management
Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 109th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Tuesday, May 29, it was announced that the administration would proceed with its Section 301 of the Trade Act of 1974 proposal to impose a 25% tariff on selected Chinese goods. This is approximately 10 days after declaring that the tariffs would be placed on hold. To clarify this rapidly changing situation regarding tariffs, below is an outline of important points and a timeline of pertinent events.
The General Administration of Customs of the People’s Republic of China (GACC) has issued Announcement No.56  to adjust the manifest rules of import and export in the country, effective June 1, 2018. MIQ Logistics will adhere to the new requirements and transmit all required electronic data to China Customs prior to arrival or departure of air and sea shipments. To avoid delays, the following key points require your attention in your future shipping documentation:
- Manifest submissions must be made 24 hours prior to loading. This includes all import and export shipments moving by air or sea to / from / via China mainland ports.
- The manifest must accurately and completely reflect all goods under the bills of lading and waybills.
- The cargo description must be complete, accurate, and cover all the goods.
- Full contact details of the Shipper and Consignee (or the Notify Party if Consignee is “To Order”) are mandatory, including the Enterprise Codes. For example, for China — USCI (Unified Social Credit Identifier), OC (Organization Code); U.K. – Company Number, VAT (Value Added Tax) Identification Number; USA — CIK (Central Index Key), EIN (Employer Identification Number).
Starting Friday June 1, 2018, the 25% tariff on steel and 10% tariff on aluminum will go into effect for the European Union, Canada, and Mexico. The tariffs were originally announced in March (Steel and Aluminum Tariff List) but provided a temporary exemption to several U.S. allies while negotiations of export limits to the U.S. were discussed. According to U.S. Commerce Secretary Wilbur Ross, export limits were negotiated with South Korea, Argentina, Australia, and Brazil. However, Ross said negotiations didn’t go as far as he wanted them to with Canada, Mexico, and European diplomats and talks will continue.
During the month of May 2018, MIQ Logistics was involved in a number of events throughout the logistics industry. Read MIQ in the news, industry updates, services offered by MIQ, and events that will be taking place in the May 2018 logistics link.
New Tariffs Suspended While China Trade Negotiations Continue
During an appearance on Fox News Sunday on May 20, Treasury Secretary Steven Mnuchin said that around $150 billion worth of proposed tariffs on Chinese goods pursuant to Section 301 of the Trade Act of 1974 are on hold as the two countries continue trade negotiations to reduce their deficit.
“We’re putting the trade war on hold, so right now we have agreed to put the tariffs on hold while we try to execute the framework. … We have an agreement with China that they’re going to substantially agree to it.”