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Q4 Regulatory Updates

Generalized System of Preferences (“GSP”) Expires December 31, 2017 

The Generalized System of Preferences (“GSP”), first implemented on January 1, 1976, periodically expires and must be renewed by Congress to remain in effect. The most recent GSP reauthorization (H.R. 1295) expires on December 31, 2017.   Although Congress let the program lapse for two years past the previous expiration date of July 31, 2013, we are not aware of any current effort to end the program. But it nonetheless remains a possibility.

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US Unemployment Chart

Employment Situation Summary – September 2017

Source: Bureau of Labor Statistics

The unemployment rate decreased by 0.2 percentage point to 4.2 percent in September, and the number of unemployed persons declined by 331,000 to 6.8 million. Both measures were down over the year.

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September 2017 Manufacturing ISM Report On Business

Source: Institute for Supply Management

Economic activity in the manufacturing sector expanded in September, and the overall economy grew for the 100th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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US Economic Situation Manufacturing & Unemployment

U.S. Economic Snapshot – September 2017

“The August gain is consistent with continuing growth in the U.S. economy for the second half of the year, which may even see a moderate pick up,” said Ataman Ozyildirim, Director of Business Cycles and Growth Research at The Conference Board. “While the economic impact of recent hurricanes is not fully reflected in the leading indicators yet, the underlying trends suggest that the current solid pace of growth should continue in the near term.”    The Conference Board

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MIQ Global Mexico Impacted by Earthquake

On Tuesday, a major earthquake registering a magnitude 7.1 struck Central Mexico. The earthquake resulted in numerous fatalities and heavy structural damage throughout the capital.

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NRF Import Cargo Volume

Retail Imports Set New Monthly High, Yearly Record Possible

Source: National Retail Federation

Growing imports at the nation’s major retail container ports set an all-time monthly record this summer, and 2017 is expected to reach a new yearly record, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.

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Port Closures Begin As Irma Approaches Florida

MIQ Logistics continues to monitor the status of Hurricane Irma as it is currently north of Puerto Rico and is expected to pass north of the coast of the Dominican Republic later today. Irma remains a category 5 at this moment as it approaches Florida going into the weekend.

The U.S. Coast Guard has ordered Port Condition Whiskey for the Ports of Miami, Miami River, Port Everglades, Port of Palm Beach, Port of Ft. Pierce, and all other terminals and facilities within Sector of Miami’s responsibility.

Additionally, MIQ has received carrier notifications indicating important status updates from certain ocean carriers: 

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Hurricane Irma – MIQ Logistics Update

MIQ Logistics would like to make our Global Miami and Doral customers aware of our implemented business continuity plan as Florida prepares for the possible landfall of Hurricane Irma. 

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Mumbai Supply Chain Operations Impacted by Flooding

This week Mumbai has been hit by some of the heaviest flooding in a decade, due to significant rainfall from the monsoon. While it is reported that the flood waters are beginning to recede, there have been supply chain delays hampering both the airport as well as port terminals.

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Aug 2017 Manufacturing ISM Report

August 2017 Manufacturing ISM Report On Business

Source: Institute for Supply Management

Economic activity in the manufacturing sector expanded in August, and the overall economy grew for the 99th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.

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