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 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 […]
Read MoreAirfreight rates continued their upward trend last week as businesses sought to transport goods ahead of the anticipated announcement of sweeping new U.S. tariffs. According to data from TAC, compiled for the Baltic Air Freight Index, overall air cargo rates increased by 2.4% in the week ending March 31, reflecting a 5.1% rise compared to […]
Read MoreSandler, Travis & Rosenberg, P.A. (ST&R) reports that on March 26, the President issued a proclamation imposing 25% tariffs on imported cars, light trucks, and specific vehicle parts under Section 232 of the Trade Expansion Act of 1962, citing national security concerns. These tariffs are based on a 2019 investigation and newly submitted information from […]
Read MoreFreight forwarders are rushing to manage an unexpected surge in air cargo demand on westbound trans-Atlantic routes as shippers expedite shipments ahead of new U.S. tariffs on European goods, set to take effect on April 2. This heightened demand is pushing air freight rates upward, with prices climbing 8% this week to nearly $5 per […]
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