cross-border trade

Cross-border logistics no walk in the park — Midday Market Update

MMU 11/24

On this episode of Midday Market Update, Kaylee Nix and Michael Vincent get a close look at the intricacies of moving freight across borders. They are joined by FreightWaves’ Zach Strickland for a market update and Anthony Smith for a look at Q1 GDP and unemployment numbers. 

First in headlines, Andrew Cox looks at Echo Global Logistics’ record-breaking first-quarter earnings, a shocking report from GrubHub and pressure on the U.S. Department of Transportation to support agriculture exporters by...

https://www.freightwaves.com/news/cross-border-logistics-no-walk-in-the-park-midday-market-update

FreightWaves Classics: Trucking companies’ names range from A to Z (Chapter 14)

CalArk's tractors and trailers are distinctly marked. (Photo: Jim Allen/FreightWaves)

Deregulation of the U.S. trucking industry began in the late 1970s. Congress passed the Motor Carrier Act of 1980 and it was signed into law by President Carter on July 1, 1980. This ended 45 years of onerous regulation by the federal Interstate Commerce Commission (ICC).

One of the most dramatic changes that occurred due to deregulation was the virtual explosion in the number of trucking firms. From 1980 to 1990, the number of licensed carriers doubled – from fewer than 20,000 to more than...

https://www.freightwaves.com/news/freightwaves-classics-trucking-companies-names-range-from-a-to-z-chapter-14

Shippers, beware of cross-border insurance gaps

Recent trends show that U.S.-international trade is going south — to Mexico that is. 

The ongoing trade war between the United States and China — and its resulting tariffs — have put Mexico on the map for nearshoring manufacturing operations. This, coupled with COVID-19-related disruptions hindering trans-Pacific trade, has led many to consider setting up shop closer to home.

Cross-border freight opportunities abound, as close to $2 billion in trade flows across the U.S.-Mexico border every day....

https://www.freightwaves.com/news/shippers-beware-of-cross-border-insurance-gaps

China remains top US trade partner, Mexico No. 2

For the second month in a row, China was the main trading partner of the U.S., followed by Mexico in second place and Canada in third. 

Trade between the U.S. and China totaled $59 billion in November, an increase of 30% compared to the same period a year ago, according to data released Thursday by the U.S. Census Bureau.

Mexico’s trade with the U.S. totaled $49 billion in November, a decrease of 1.8% from November 2019. Mexico had ranked No. 1 for the same month last year.

Trade between the U.S....

https://s29755.pcdn.co/news/china-remains-top-us-trade-partner

International shipping startup raises $12M Series A

Passport, a technology startup that helps brands with all aspects of cross-border shipping, announced on Thursday it has raised $12 million in Series A funding.

Leading the round was M13, with participation from Resolute Ventures, Precursor, Kleiner Perkins, RiverPark and Republic. 

In an interview with FreightWaves, CEO Alex Yancher described Passport as a “modern international shipping carrier” built for e-commerce and direct-to-consumer brands. 

The company takes on the digital, logistics and...

https://www.freightwaves.com/news/international-shipping-startup-raises-12m-series-a

US-Canada-Mexico border closures extend to Jan. 21

A tractor-trailer entering the U.S. from Mexico. The US-Canada-Mexico borders will remain closed for non-essential travel to Jan. 21

The U.S. land borders with Canada and Mexico will remain closed for nonessential travel until at least late January, officials said on Friday, as the coming arrival of COVID-19 vaccines opened the door for the eventual easing to the unprecedented restrictions. 

The extension was expected as COVID-19 infections surge in all three countries. Trucks will continue to be able to move freight freely across the borders under the terms of the restrictions, in place since March.

The border likely will be...

https://s29755.pcdn.co/news/us-canada-mexico-border-closures-extend-to-jan-21

Ransomware hackers claim attack on Texas customs broker

A view of trucks crossing the U.S.-Mexico border. Texas customs broker Daniel B. Hastings was recently targeted by ransomware hackers.

Ransomware hackers have claimed they attacked a Texas customs broker and freight forwarder Daniel B. Hastings, posting files they purportedly stole in an apparent attempt to extort the Laredo-based company. 

The extent of the apparent attack and data breach was not immediately clear. Hastings did not respond to FreightWaves’ requests for comment.

The files posted by the ransomware group Conti on Saturday appear authentic. They include completed U.S. Customs and Border Protection documents for...

https://s29755.pcdn.co/news/ransomware-hackers-claims-attack-on-texas-customs-broker

US border closures with Mexico, Canada extended through Sept. 21

Trucks lined up for inspection at the U.S.-Mexico border at the Port of Laredo. The U.S. land borders with Mexico and Canada will remain closed for non-essential travel through Sept. 21.

The closures of the U.S. land borders with Mexico and Canada for non-essential travel have been extended another month to curb the spread of COVID-19.

The land borders will remain closed through September 21, Acting Homeland Security Secretary Chad Wolf announced in a tweet on Friday morning.

The U.S. land borders have been closed to non-essential travel since March in response to the COVID-19 pandemic. 

Trucks have continued to move freight relatively freely across the Mexican and Canadian...

https://s29755.pcdn.co/news/us-border-closures-with-mexico-canada-extended-through-sept-21

Under USMCA, Canada rolls with ‘new NAFTA’

Truck cross the Blue Water Bridge at the US-Canada border. The USMCA trade agreement may impact cross-border trade.

Before the United States-Mexico-Canada Agreement took effect at midnight Wednesday, Energy Transportation Group in Quebec had spent months working to ensure that its trucks will continue to move freight between Canada and the U.S. without a hitch.

“I don’t foresee any changes. If the trucks keep rolling, everyone will be all right,” Energy CEO Shawn Girard told FreightWaves.

The trade pact came into force on Canada Day, the country’s national holiday and normally a slow day for freight. However,...

https://s29755.pcdn.co/news/under-usmca-canada-rolls-with-new-nafta

US to hit Canada with aluminum tariffs, report says

A truck hauls metal in a flatbed trailer. Renewed tariffs on aluminum imports from Canada could impact speciality cross-border trucking.

The United States is preparing to re-impose tariffs on aluminum imports from Canada, according to Bloomberg. The move could disrupt cross-border supply chains by leading U.S. companies to re-source aluminum. 

The Trump administration is planning to restore a 10% tariff on July 1 in the event Canada refuses to cut exports, Bloomberg reported, citing anonymous sources. The tariffs would come on the same day that the United States-Mexico-Canada Agreement (USMCA) takes effect.

The revival of aluminum...

https://www.freightwaves.com/news/us-to-hit-canada-with-aluminum-tariffs-report-says

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