Source: Institute for Supply Management, July 1, 2019
Economic activity in the manufacturing sector expanded in June, and the overall economy grew for the 122nd consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
On Saturday, June 29, 2019, the White House announced that the fourth tranche of tariffs on $300 billion worth of imports from China would not be implemented as China and the United States continue to pursue a fair trade deal.
During the month of June 2019, MIQ was involved in a number of events throughout the logistics industry. Read industry updates, regulatory updates, and services offered by MIQ, in the June 2019 logistics link.
On Thursday, June 20, 2019, the United States Trade Representative (USTR) published the procedure on how to request an exclusion of particular products from the Section 301 List 3 tariffs against China starting on Sunday, June 30, 2019.
Source: National Retail Federation June 7, 2019
Imports at the nation’s major retail container ports are expected to continue to grow this summer as retailers stock up inventory to get ahead of higher tariffs, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.
“With a major tariff increase already announced and the possibility that tariffs could be imposed on nearly all goods and inputs from China, retailers are continuing to stock up while they can to protect their customers as much as possible against the price increases that will follow,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.
On Friday, June 7, 2019, the President of the United States announced that the proposed 5 percent Mexico tariffs would be “indefinitely suspended” as Mexico has “agreed to take strong measures” to curb the flow of Central America migrants into the United States.
On Thursday, May 30, 2019, the United States Trade Representative office released a fifth Notice of Product Exclusions to Section 301 List 1 products currently subject to a 25 percent tariff.
On Friday, May 31, 2019, the President of the United States signed a Proclamation to Modify the List of Beneficiary Developing Countries which removes India from the Generalized System of Preferences (GSP) effective June 5, 2019. This action is a follow-up to the initial announcement on March 4, 2019. By statute, a 60-day notice to the U.S. Congress and India was required before the removal from GSP could become effective.
On Friday, May 31, 2019, the United States Trade Representative announced that they intend to publish a notice in the Federal Register that “extends the amount of time certain goods exported from China have to enter the United States before they will be subject to an additional tariff increase from 10 percent to 25 percent.”
Source: Institute for Supply Management – June 3, 2019
Economic activity in the manufacturing sector expanded in May, and the overall economy grew for the 121st consecutive month, say the nation’s supply executives in the latest Manufacturing ISM® Report On Business®.
