A recent report from consultancy firm Trade Partnership Worldwide has raised concerns over the potential impact of heightened tariffs and port fees on the US apparel trade. If current tariff hikes become permanent and additional fees on Chinese vessels are enforced, the US could see a noticeable decline in clothing imports, the study warns. While […]
Read MoreThe U.S. Trade Representative (USTR) has announced its final actions regarding the Section 301 investigation into China’s shipbuilding industry, introducing significant changes from the initial proposals. Key Changes and Fee Structure: Revised Fees: Instead of a flat fee, new fees will be based on vessel net tonnage (NT) or container count and will apply per […]
Read MoreRising trade tensions between the United States and China are expected to trigger significant shifts in Asia’s supply chain dynamics, as regional manufacturers look to diversify markets and mitigate risks, according to Indian industry sources. Speaking to the Journal of Commerce, several experts noted that Chinese exporters, grappling with declining demand from the US due […]
Read MoreAmerica’s advanced weapons manufacturers are facing a looming shortage of critical rare-earth minerals, largely due to new export licensing restrictions imposed by China. The move, a response to rising trade tensions under former President Donald Trump’s administration, threatens to disrupt supply chains essential to the U.S. defense and aerospace sectors. According to the Center for […]
Read MoreBusinesses are being advised to reassess their procurement and supply chain strategies as the effects of U.S. tariffs ripple across global trade, driving up shipping costs and prices on a wide array of goods. The sweeping tariff measures imposed by U.S. President Donald Trump, along with retaliatory actions from major trade partners, have thrown supply […]
Read MoreRay Dalio in Principles argues that while current events like tariffs grab headlines and have significant impacts, they are merely symptoms of much larger, more fundamental shifts underway. Focusing solely on these immediate events, attributed often to specific political figures like President Trump, distracts from the underlying breakdown of the major monetary/economic, domestic political, and […]
Read MoreOcean carriers operating on the eastbound trans-Pacific trade are preparing to cancel more sailings following a surge in booking cancellations last week. The uncertainty surrounding steep U.S. tariffs on Chinese goods is prompting shippers to pause or abandon freight plans, potentially leaving vessels departing China half-empty well into May. Gene Seroka, Executive Director of the […]
Read MoreThe global maritime sector is navigating turbulent waters as the U.S.-China trade war continues to fuel widespread uncertainty. Industry leaders say the constantly evolving tariff landscape has made long-term planning nearly impossible. Jacob Winthereik, interim CEO of Lauritzen Bulkers, noted that with new tariffs being introduced or modified almost weekly, the industry sees no signs […]
Read MoreOverview of Tariff Adjustments Effective immediately, the Executive Order introduces revised reciprocal tariff rates to align with global trade dynamics and address retaliatory measures by trading partners. These changes aim to promote fair trade practices while supporting domestic industries. Updated Tariff Structure Products Originating from China, Hong Kong, or Macau Applicable tariffs include: Commodity-specific Most-Favored-Nation […]
Read MoreA wave of “panic buying” is expected over the next three weeks in the trans-Pacific air freight market, as shippers rush to move goods into the U.S. before new tariff rules kick in on May 2, according to The International Air Cargo Association (Tiaca). Tiaca Director-General Glyn Hughes told the Journal of Commerce that cargo […]
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