Source: Institute for Supply Management – December 3, 2018
Economic activity in the manufacturing sector expanded in November, and the overall economy grew for the 115th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Saturday, December 1, 2018, the President of the United States agreed to suspend the increase in tariffs scheduled for January 1, 2019. The White House issued a statement, which included the following: “… President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10% rate, and not raise it to 25% at this time.”
Source: National Retail Federation
Imports at the nation’s major retail container ports have slowed down from their pre-holiday peak but remain at unusually high levels as retailers continue bringing in merchandise before tariffs increase in January, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Imports have usually dropped off significantly by this time of year but we’re still seeing numbers that could have set records in the past,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Part of this is driven by consumer demand in the strong economy but retailers also know that tariffs on the latest round of goods are set to more than double in just a few weeks. If there are shipments that can be moved up, it makes sense to do that before the price goes up.”
Source: Institute for Supply Management – November 1, 2018
Economic activity in the manufacturing sector expanded in October, and the overall economy grew for the 114th consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Tuesday, October 30, 2018, a Presidential Proclamation was made that modifies the list of products eligible for duty-free treatment under the Generalized System of Preferences (GSP). These changes impact goods entered or withdrawn from warehouse for consumption on or after 12:01 a.m. EDT on November 1, 2018.
The following HTSUS numbers have been removed from GSP eligibility for preferential treatment duty when imported from the countries indicated:
Source: National Retail Federation
Imports at the nation’s major retail container ports are expected to remain at near-record levels this month despite a new round of tariffs that took effect in September, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“Retailers are continuing to import merchandise in order to meet consumer demand even though tariffs are now in place on roughly half the goods imported from China and the trade war is still escalating,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said. “Retailers are doing their best to mitigate the impact on their customers, but they are not able to quickly or easily change their sourcing. That means these tariffs will eventually mean higher prices for American consumers.”
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®.
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.
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.”
