Downtown Shanghai heavily effected as covid out breaks surge. Museums, Theaters, and galleries closed, and refunds issued in the city of Shanghai. The majority of schools located in the inner city announced that they will be swapping to online learning as of Friday the 11th. Across China more than 100 neighborhoods have been deemed medium or high-risk danger zones, with required frequent testing and partial or complete lockdown.
News / Industry News
On Tuesday, this week, the price of diesel fuel on the CME commodity exchange rose 21.98 cents per gallon, which is the largest single day increase since early June 2008. The US Department of Energy reports that the national average price of diesel at the pump jumped $0.75 cents in the first week of March, up a total of $1.71 from one year ago.
As the conflict between Russia and Ukraine grows, the operational outlook for logistics operations with these countries has been severely altered.
Source: National Retail Federation Press Release- March 9, 2022
Imports at the nation’s major retail container ports are expected to be at near-record levels this spring and summer as consumer demand and supply chain challenges continue to result in congestion, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
HUSCHBLACKWELL
On February 24, 2022, the United States imposed a combination of extensive and complex trade sanctions and export controls against Russia in response to is invasion of Ukraine.
On Monday February 7, 2022 the United States Trade Representative (USTR) announced a 232 Tariff Agreement with Japan. The new agreement will allow Japan to ship up to 1.25 million tons of steel under a tariff rate quota (TRQ) without paying the 25% tariff. Any steel shipped in excess of the 1.25 million tons will be subject to the 25% tariff. The agreement which will take effect April 1st did not change the 10% tariff on aluminum.
On Friday February 4, 2022, the President of the United States issued a Proclamation to Continue Facilitating Positive Adjustment to Competition from Imports of Certain Crystalline Silicon Photovoltaic Cells (CSPV) (Whether or Not Partially or Fully Assembled into Other Products.
Source: National Retail Federation Press Release- February 9, 2022
Imports at the nation’s congested container ports are expected to grow modestly during the first half of 2022, but continued high volumes will keep up pressure that built as the economy bounced back from the pandemic last year, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
The Census Bureau’s Economic Management Division (EMD) is announcing the publication of a Notice of Proposed Rulemaking (NPRM) seeking public comments on its consideration to add a conditional data element, country of origin, when foreign origin is selected in the Foreign/Domestic Origin Indicator field in the Automated Export System (AES).
Source: National Retail Federation Press Release – January 7, 2022
After a year of unprecedented increases, imports at the nation’s major retail container ports are expected to return to normal growth rates in 2022 but volumes will remain high, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.