U.S. Customs and Border Protection (CBP) released fiscal year (FY) 2023 textile enforcement statistics today, demonstrating the agency’s robust efforts to protect American workers and legitimate importers from unlawful textile imports that violate U.S. trade laws and trade agreements. In FY 2023, CBP: Seized more than 5,000 textile shipments valued at more than $129 […]
Read MoreA recent report by analyst Maritime Strategies International (MSI) predicts a positive outlook for container carriers operating between Asia and North Europe in 2024. The report cites emerging signs of a demand recovery in the medium term, as inventories are replenished. The Trans-Pacific route is expected to experience healthy growth in the upcoming year, while […]
Read MoreIn 2022, U.S. freight trade with China by vessel and air modes of transportation account for 63 and 32 percent, respectively. The remaining 5 percent involves foreign trade zones, mail, and other freight moves that are not identified with a specific mode of transportation. Air freight from China decreased from $223.1 billion in 2021 to […]
Read MoreA voluntary partnership of leading maritime goods movement stakeholders, including the Ports of Los Angeles, Long Beach and Shanghai, some of the largest shipping lines in the world, with input from leading cargo owners, have developed a Green Shipping Corridor Implementation Plan Outline to accelerate emissions reductions on one of the world’s busiest container […]
Read MoreNCBFAA Regulatory Agencies Committee (RAC) Chair Mike Lahar, Vice Chair Karen Damon, and Counsel Cindy Thomas briefed members about the expected response to the government shutdown by the following PGAs: Food and Drug Administration (FDA)—Overall, the FDA will do better than most federal agencies, retaining approximately 80 percent of its workforce, due in part […]
Read MoreThe philosopher Jose Ortega y Gasset once said, “We do not know what is happening to us, and that is precisely the thing that is happening to us.” This quote is apt for the current state of the Americas, where technological transformation, massive migration, rampant crime, and sluggish economies are remaking politics and weakening democratic […]
Read MoreUnited Parcel Service (UPS) is offering severance packages to hundreds of pilots as the company adjusts to lower demand levels. The express giant has been busy reducing its fleet of aircraft and retiring older planes in recent months. The company said that it is offering the severance packages as part of its “effort to […]
Read MoreRecent Inflation Developments The Federal Reserve’s Strategy to Tame Inflation The Federal Reserve is making progress in its efforts to tame inflation. Headline inflation has slowed from its peak of 8.9% in June 2022 to 3.3% in July 2023. This deceleration has been driven by lower food and energy prices. Core inflation, which excludes […]
Read MoreOcean Carriers’ Successful Vessel Supply Adjustments Could Be Disrupted by New Vessel Deliveries. Recent increases in freight rates on the trans-Pacific route have been attributed to ocean carriers successfully adjusting vessel supply to meet demand through schedule changes and canceled sailings. However, this balance could be disrupted by the impending delivery of new vessels, […]
Read MoreOn Wednesday, August 9th President Joe Biden declared a new national emergency and immediately used it as the justification for creating a new screening system that will limit Americans’ ability to invest overseas. The new rules, which have been in development since last year, will prohibit private equity and venture capital firms from investing […]
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