US Customs: De Minimis Frequently Asked Questions (FAQs)
De Minimis Frequently Asked Questions (FAQs)
Read MoreUS Forwarders Face Possible Delays and Disruptions from UPS Strike Action
US Forwarders Face Possible Supply Chain Disruptions from UPS and Yellow Freight Crises US forwarders are warned to get ready for the impact of possible strike action at UPS, and the financial troubles of Yellow Freight, one of the biggest U.S. LTL trucking companies, which is at risk of going bankrupt. Brandon Fried, executive director […]
Read MoreResumption of UPS Union Talks Amid Looming Strike Action
UPS and union representatives are scheduled to resume talks in the coming week as the threat of an impending strike looms, with less than two weeks remaining before the current deal with the Teamsters union expires on July 31. Express delivery company UPS is urging swift action to reach a resolution with the Teamsters union, […]
Read MoreModerate Upsurge in US Retail Sales as Economy Continues Steady Progress
Recent data reveals a decrease in sales for both grocery stores and department stores, indicating a potential shift in consumer spending patterns. Particularly, sales at service stations have experienced a 1.4% drop attributed to the impact of lower gasoline prices. On the other hand, there was a slight 0.1% increase in sales at food services […]
Read MoreDemand slowdown prompts carriers to skip voyages and look for port call rewards.
The demand for the Asia-North Europe trade is weak and uneven, so carriers are adjusting their sailings and port calls to cope with the situation. A carrier source said they were trying to be flexible and responsive to the market needs. MSC announced today that it would cancel the next sailing of its MSC Bianca […]
Read MoreUS Forwarders Advised to Prepare for Potential UPS Strike Disruption
Freight forwarders in the United States have been warned to prepare for potential strike action at UPS and the looming insolvency of major trucking firm Yellow Freight. The situation has raised concerns over the impact it may have on supply chains and the flow of goods across the country. Brandon Fried, the executive director of […]
Read MoreNRF Predicts Unprecedented Back-to-School Expenditure
The National Retail Federation (NRF) has released insights projecting unprecedented consumer spending on back-to-school and college items for the upcoming summer. According to the NRF’s annual survey conducted by Prosper Insights & Analytics, back-to-school spending is estimated to reach $41.5 billion this year, surpassing last year’s $36.9 billion and the previous record of $37.1 billion […]
Read MoreMexico Overtakes China as America’s Leading Trade Partner: The Rapid Transformation of the Global Economy
In the first four months of this year, Mexico has once again solidified its position as America’s top trading partner, facilitating a staggering $263 billion worth of goods exchanged between the two nations. This robust trade with Mexico accounted for 15.4% of goods exported and imported by the US, surpassing trade totals with Canada and […]
Read MoreYellen Raises China’s Hopes for Tariff Cuts, but US Politics Could Dash Them
US Treasury Secretary Janet Yellen’s visit to China has sparked optimism in Beijing that the Trump-era tariffs on Chinese imports could see some alleviation as she endeavors to improve relations between the two countries. However, the presence of robust anti-China sentiment within the US may pose significant obstacles to the realization of such tariff cuts. […]
Read MorePOLB Trade Slows Down and Midyear Container Shipping Report Released
Trade activity at the Port of Long Beach (POLB) experienced a cooling trend in June as retailers worked to clear their warehouses. Last month, dockworkers and terminal operators handled a total of 597,076 twenty-foot equivalent units (TEUs), marking a significant 28.5% decline compared to the same period in the record-setting June of 2022. Notably, imports […]
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