The United States and China have agreed to a 90-day suspension of their ongoing trade dispute, which had previously driven tariffs between the two countries to more than 100%. Following a weekend of negotiations, both sides announced that tariffs imposed since April 2 — which had reached as high as 125% on some goods — […]
Read MoreUS shippers are increasingly turning to foreign trade zones (FTZs) as a potential solution to offset the cost of Trump administration tariffs on high-value goods and merchandise. However, limited storage capacity and administrative complexity make FTZs far from a guaranteed fix. FTZs are specially designated domestic areas, usually near a port of entry, where high-value […]
Read MoreAs of May 2, the United States has officially ended the de minimis exemption for packages arriving from China and Hong Kong. This change eliminates duty-free entry for shipments valued under $800, subjecting them instead to significantly higher tariffs and stricter customs procedures. Under the new policy, affected packages will either face a 120% tariff […]
Read MoreFireworks have long been a staple of the Fourth of July celebrations but this year, Americans may face shortages and higher prices. The reason? Nearly all fireworks sold in the U.S. are imported from China, and the steep 145% tariff on Chinese goods is forcing U.S. distributors to either raise prices significantly or cut back […]
Read MoreOngoing uncertainty around the Trump administration’s shifting tariff policies is disrupting the usual schedule for signing annual service contracts between ocean carriers and importers on the eastbound trans-Pacific trade lane. According to sources cited by the Journal of Commerce, negotiations that typically conclude by late April for contracts starting May 1 have been delayed by […]
Read MoreA 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 More