The trade ministers from the 12 participating TPP countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the United States and Vietnam) after five (5) days of round-the-clock negotiations in Atlanta agreed on Monday, Oct 5, 2015 to the largest regional trade agreement in history. The final sticking points in Atlanta centered on the length of market protections for an emerging class of pharmaceuticals, tariffs for dairy products and rules governing how to classify where automobiles are manufactured.
The TPP still faces months of debate in Congress even as presidential candidates, labor unions and liberal activists line up to oppose the agreement. On the other hand, Congress gave the president “fast track” trade promotion authority (TPA) in June, which guarantees that trade agreements will receive expedited consideration in Congress and a yes-or-no vote without amendments or filibusters.
The full text of the Agreement’s thirty (30) chapters will not be available for a month. Under the terms of the fast-track legislation, the president must wait 90 days after the TPP agreement is completed before he signs it and sends it to Congress for a vote, and the text of the accord must be made public for at least 60 of those days.
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“The U.S. LEI suggests economic growth will remain moderate into the New Year, with little reason to expect growth to pick up substantially,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “Average working hours and new orders in manufacturing have been weak, pointing to more slow growth in the industrial sector. However, employment, personal income and manufacturing and trade sales have all been rising, helping to offset the weakness in industrial production in recent months.” – www.conference-board.org
Bureau of Labor Statistics
Total nonfarm payroll employment increased by 142,000 in September, and the unemployment rate was unchanged at 5.1 percent, the U.S. Bureau of Labor Statistics reported today. Job gains occurred in health care and information, while mining employment fell.
Institute for Supply Management
Economic activity in the manufacturing sector expanded in September for the 33rd consecutive month, and the overall economy grew for the 76th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
The following announced levels from carriers are for General Rate Increases (GRI) as well as Bunker Fuel Level updates for the dates listed below.
OVERLAND PARK, Kan., September 30, 2015 – MIQ Logistics is pleased to announce that Andrea Basail has joined the Sales team as commercial manager for Chile. Located in the Metropolitan Region of Santiago, Chile, Basail has responsibility for developing new sales lanes, strategic accounts, and new business efforts.
OVERLAND PARK, Kan., September 29, 2015 – MIQ Logistics is named one of America’s leading 3PL (third-party logistics) providers for the second consecutive year in Global Trade magazine’s annual report. The report calls out MIQ Logistics for its excellence in specialized services.
“Customers come to us for our global, transportation and distribution services,” says John Carr, president and chief executive officer-MIQ Logistics. “However, it’s our specialized services within those areas of expertise where customers often find additional efficiencies for their supply chains. We call them our value-added services and they’re included in all our offerings.”\
American Trucking Associations
American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index declined 0.9% in August, following a revised increase of 3.1% during July. In August, the index equaled 134.2 (2000=100), down from 135.3 in July. The all-time high of 135.8 was reached in January 2015.
Cass Information System, Inc.
North American shipment volume and expenditures dropped for the second month in a row as the summer slowdown hit. The drop in freight spending was sharper than expected, however, as truck spot prices fell lower due to abundant capacity. The decline in shipments did not follow the typical upward movement in August, but given the weak level of new manufacturing orders placed in June and July it is not unanticipated. GDP growth was strong overall during the first half of the year, with a 3.7 percent growth rate in the second quarter and a 0.6 percent growth rate in the first.
National Retail Federation
Import cargo volume at the nation’s major retail container ports is expected to increase 1.2 percent this month over the same time last year as retailers head toward the holiday season, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“After supply chain worries earlier this year, inventories are plentiful this fall,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Shoppers should have no worries about finding what they’re looking for as they begin their holiday shopping.”