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.”
News
During the month of November 2018, MIQ Logistics was involved in a number of events throughout the logistics industry. Read educational opportunities, regulatory updates, industry updates, services offered by MIQ, and events that will be taking place in the November 2018 logistics link.
Trade wars and tariffs continue to be a topic of interest across all segments of our economy. As experts in global trade management and compliance, the MIQ Logistics team of experts is often asked to share their knowledge and participate in trade shows, educational events, news stories, and training.
On November 08, 2018, a second BNSF train derailed on the San Bernardino subdivision between Prado Dam and Esperanza, CA, impacting BNSF main line tracks. The first main track was opened on November 08, 2018, at 7:20 a.m. CST, and the second main track was opened on November 08, 2018, at 12:30 p.m. CST.
The derailments added to the congestion the market has already been experiencing due to increased volumes. BNSF implemented the following restrictions as part of the recovery effort:
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:
During the month of October 2018, MIQ Logistics was involved in a number of events throughout the logistics industry. Read regulatory updates, industry updates, services offered by MIQ, and events that will be taking place in the October 2018 logistics link.
On Monday, October 15, members of the West Coast MTO Agreement (WCMTOA) announced the revised Off-Peak program for providing extended gate hours at the Ports of Los Angeles and Long Beach (PierPass 2.0) is expected to start Nov. 19, subject to the conclusion of applicable Federal Maritime Commission procedures. The current congestion-pricing model, including a Traffic Mitigation Fee (TMF) charged on daytime moves, will be replaced with an appointment-based system that uses a single flat fee on both daytime and nighttime container moves. (Source: www.pierpass.org/)
The following is what you need to know about the changes effective November 19:
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.”
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