China’s State Administration of Taxation (SAT) issued guidance (Bulletin 42) that extends VAT-exempt treatment to all international freight forwarding services. The new rules went into effect on September 1, 2014.
Economic activity in the manufacturing sector climbed in August; for the 15th consecutive month:
“U.S.-NAFTA freight totaled $103.0 billion in June 2014 as all five major transportation modes – air, vessel, pipeline, rail, and trucks – carried more freight by value in June 2014 than in June 2013, according to the TransBorder Freight Data released today by the U.S. Department of Transportation’s Bureau of Transportation Statistics (BTS).”
Welcome to the August 2014 Logistics Link, the MIQ Logistics monthly newsletter
The International Longshore and Warehouse Union (ILWU) and the Pacific Maritime Association (PMA) announced Tuesday that they have reached a tentative agreement on terms for health benefits, subject to agreement on the other issues in the negotiations. The parties have agreed not to discuss the terms of this tentative agreement as negotiations continue.
“Consumer confidence increased for the fourth consecutive month as improving business conditions and robust job growth helped boost consumers’ spirits. Looking ahead, consumers were marginally less optimistic about the short-term outlook compared to July, primarily due to concerns about their earnings. Overall, however, they remain quite positive about the short-term outlooks for the economy and labor market.” – The Conference Board
Thousands of truck drivers went on strike over salary and haulage rates in the eastern Chinese port of Ningbo this week, and a logistics firm said on Friday the industrial action was disrupting operations at the world’s sixth busiest port.
Per Bloomberg News, airlines are on alert as one of Iceland’s biggest volcanoes rumbles to life, threatening ash clouds that could force flight cancellations across the North Atlantic, the busiest international travel market.
“American Trucking Associations’ advanced seasonally adjusted For-Hire Truck Tonnage Index rose 1.3% in July, following a decrease of 0.8% the previous month. In July, the index equaled 130.2 (2000=100) versus 128.6 in June. The index is off just 0.6% from the all-time high in November 2013 (131.0).”