Source: Institute for Supply Management
Economic activity in the manufacturing sector expanded in September, and the overall economy grew for the 113th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
During the month of September 2018, MIQ Logistics was involved in a number of events throughout the logistics industry. Read regulatory updates, industry updates, services offered by MIQ, and events that will be taking place in the September 2018 logistics link.
Congratulations to John Carr, President and CEO of MIQ Logistics, for being named to the Ingram’s 250 for the third consecutive year. Each year, 250 of the most influential business executives are selected out of the approximately 3 million leaders in the Greater Kansas City Metropolitan Area.
The next FDA Renewal period begins October 1, 2018. All domestic and foreign food and medical device facilities, along with the companies that source from them, are required to renew their registration during the period from October 1, 2018, through December 31, 2018.
MIQ Logistics is pleased to announce that for the eighth consecutive year it is ranked on Ingram’s list of Top 100 Privately Held Companies in the greater Kansas City area.
“We are proud to once again be named as a Top 100 Privately Held Company,” said John Carr, President and Chief Executive Officer, MIQ Logistics. “Our logistics professionals here in Kansas City and around the world continue to exceed expectations by working as a team to provide our customers with an exceptional combination of global coverage, local expertise, and superior service.”
On September 17, 2018, the Office of the United States Trade Representative (USTR) released the third list (List 3 Final) of approximately $200 billion worth of imports from China that will be subject to additional tariffs. This recent action is part of the Section 301 U.S. response to China’s unfair trade practices related to the forced transfer of American technology and intellectual property.
Unlike previous Section 301 actions, this third list of additional tariffs will be implemented in two phases, with effective dates of September 24, 2018, and January 1, 2019. This third list follows the first list of tariffs on approximately $34 billion of imports from China which went into effect on July 6, 2018, and the second list of approximately $16 billion of imports from China which went into effect on August 23, 2018.
Source: National Retail Federation – September 10, 2018
With retail sales continuing to grow, imports at the nation’s major retail container ports are expected to remain strong this month after setting three new records this summer, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“More tariffs could come any day, and retailers have been bringing in record amounts of merchandise ahead of that in order to mitigate the impact on their customers,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retail sales are growing stronger than expected this year thanks to tax cuts and job creation, but tariffs are the wild card that threaten to throw away a significant portion of those benefits.”
On September 13, 2018, H.R. 4318: Miscellaneous Tariff Bill Act of 2018 (MTB) was signed into law. This bill suspends or reduces through December 31, 2020, import duties on approximately 1700 products generally not made in the United States. Most of the products listed were recommended by the International Trade Commission (ITC) pursuant to a process established in the American Manufacturing Competitiveness Act of 2016. The products covered include specified chemicals, as well as other items such as certain agricultural products, textiles, fabrics, apparel, bags, gloves, footwear, and some equipment and machinery.
For additional information, contact your local MIQ Logistics representative.
On September 3, 2018 the Office of the United States Trade Representative (USTR) and the Republic of Korea’s Ministry of Trade, Industry and Energy published the “Agreed Outcomes” from the U.S. – Korea Free Trade Agreement (KORUS) amendment and modifications negotiations.
According to U.S. Trade Representative Robert Lighthizer, “The United States and Korea have strengthened an important economic relationship by agreeing to substantial improvements to KORUS that will help rebalance our trade, reduce our trade deficit, and expand U.S. export opportunities”.
The ports along the U.S. East Coast (USEC) are currently operating but have begun to prepare for Hurricane Florence’s arrival over the next 48-72 hours. Florence is forecasted to be a dangerous major hurricane making landfall near the southeast U.S. east coast by late Wednesday or early Thursday. The storm winds had increased to 130mph as of late yesterday.
Ocean carriers advise they are in contact with the U.S. Coast Guard, ports, terminals, and the rail and trucking industry to ensure they have the latest updates. The carriers are recommending customers with high value reefer and other import cargo to pick it up from your local port as soon as possible, due to the risk of flooding and port closures in the days ahead.