Trans-Atlantic Demand Grows Along with Space and Equipment Limitations
Until recently, major volume shifts and spikes in rates were issues primarily affecting east-west trade. Trans-Atlantic demand is now growing fast; however, container imbalances and poor service reliability have caused backlogs in the supply chain globally. Container Imbalance When trade between China and the U.S. picked up in the second [...]
ITC Releases New 2021 Basic Edition of the Harmonized Tariff Schedule, Three Main Updates
On March 15, the International Trade Commission (ITC) released the new 2021 Basic Edition of the U.S. Harmonized Tariff Schedule (USHTS). What is the Harmonized Tariff Schedule? The Harmonized Tariff Schedule of the United States (HTS) was enacted by Congress and made effective on January 1, 1989, replacing the [...]
Section 301 Exclusions Extended Again through September for COVID Response
In order to support the efforts of combating the COVID-19 pandemic, on December 29, 2020, the U.S. Trade Representative announced the extension of certain product exclusions on medical-care and/or COVID response products and further modifications to remove Section 301 duties from additional medical-care and/or COVID response products. Initially, the extension [...]
Shippers Concerned with Carrier Reliability in 2021
As shippers adjust and finalize their business strategies for 2021, they are finding the international transportation industry facing grave uncertainties as many new and challenging market conditions shape a very different landscape from any that supply chain professionals have experienced in the past. Setting long-term plans is typical at this [...]
FAQ: Can I Get a Refund on my Duties Paid if I Export the Same Product?
Theoretically, yes, provided that duty drawback requirements are satisfied. Duty drawback was established in 1789 to promote exports by means of offering duty refund when imported merchandise has been exported. Since then, the program has been modified and modernized, however, the fundamentals remain the same – [...]
Port of Montreal Shippers Brace for Labor Dispute Disruptions
Continuing labor negotiations between the Port of Montreal Employers Association and the port’s longshoremen ended this past Sunday, February 28th, without reaching an agreement. Concerns around a possible renewed labor strike taking place at the Port of Montreal are beginning to rise as the truce set between the two parties [...]
Are More Shipping Containers Being Lost at Sea?
While the number of containers lost at sea had been trending down over the past few years, recently, more cargo has gone overboard during the past three months than the annual average, 779 containers a year, between 2017 and 2019. Just last week, the Maersk Eindhoven lost 260 containers overboard. [...]