July 6, 2018 marks the effective date of the U.S. Section 301 25% duties on imports of Chinese-made products included in this list: Chinese Line Items. U.S. importers should be aware that they may need to increase their bond amounts to address the increase in duties on these specific imported goods.
During the month of June 2018, MIQ Logistics was involved in a number of events throughout the logistics industry. Read MIQ in the news, regulatory updates, industry updates, services offered by MIQ, and events that will be taking place in the June 2018 logistics link.
The following announced levels from carriers are for upcoming General Rate Increases (GRI) and Peak Season Surcharges (PSS). Additionally, you will find Bunker Fuel Levels and the Low Sulphur Levels for the 3rd quarter of 2018.
Ocean carriers worldwide have announced Emergency Bunker Surcharges (EBS), citing significant increases in bunker prices since the beginning of the year. Bunker refers to the fuel that powers the vessels and represents a significant portion of the carriers’ cost. To offset their increased bunker costs, carriers will apply the following surcharges to all cargo shipping to and from North America, effective July 1, 2018:
|LCL||20′ DV||40′ DV / HC||45′ DV|
|$3 USD W/M||$60 USD||$120 USD||$120 USD|
MIQ Logistics will continue to monitor the market to mitigate the surcharges and ensure our customers receive the most competitive rates and consistent quality service.
For further information, please contact your local MIQ Logistics representative.
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 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.
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®.
The following announced levels from carriers are for upcoming General Rate Increases (GRI) and Peak Season Surcharges (PSS). Additionally, you will find Bunker Fuel Levels as well as the Low Sulphur Levels for the 3rd quarter of 2018.