TARIFFS

Worries about deepening trade war

  • China has been front-loading exports to the US ahead of a looming rise in tariffs in January.
  • Chinese stocks tumbled Friday on trade-war fears and worries about a slowing Chinese economy.
  • Experts are pessimistic about the outcome of a meeting between the two countries’ presidents at the G20 summit later this month.

Chinese exports to the US have risen this year as the country looks to get as many goods as possible off its shores before steeper tariffs arrive in January.

“This growth is due to...

http://container-news.com/worries-deepening-trade-war/

Port of Oakland rises, despite trade war

A U.S.-China tit-for-tat over tariffs hasn’t dampened cargo volume growth at the Port of Oakland. In fact, the Port is on track for its third straight year of record container volume in 2018.

But can it last?  That’s the question supply chain experts pondered this week at the quarterly meeting of the Port’s Efficiency Task Force. Forty trade and transportation executives ranging from longshore labor representatives to cargo owners gathered to discuss trade dynamics. Their consensus: cargo volume...

http://container-news.com/port-oakland-rises-trade-war/

Traders rush to beat higher tariffs – China numbers boosted

China reported much stronger-than-expected exports for October as shippers rushed goods to the United States, its biggest trading partner, racing to beat higher tariff rates due to kick in at the start of next year.

Import growth also defied forecasts for a slowdown, suggesting Beijing’s growth-boosting measures to support the cooling economy may be slowly starting to make themselves felt.

The upbeat trade readings from China offer good news for both those worried about global demand and for the...

http://container-news.com/traders-rush-beat-higher-tariffs-china-numbers-boosted/

China promises to lower tariffs

Chinese President Xi Jinping promised today (Nov. 05) to lower tariffs, broaden market access and import more from overseas at the start of a trade expo designed to demonstrate goodwill amid mounting frictions with the United States and others.

The Nov. 5-10 China International Import Expo, or CIIE, brings thousands of foreign companies together with Chinese buyers in a bid to demonstrate the importing potential of the world’s second-biggest economy.

In a speech that largely echoed previous...

http://container-news.com/china-promises-lower-tariffs/

Tariffs drop the trade numbers

  • The Trump administration’s tariffs on $34 billion in Chinese goods went into effect in July. For weeks before that, there was a huge push to import products ahead of the tariffs.
  • But once they went into effect in July, imports on the $34 billion of Chinese goods dropped 21 percent from the prior year.
  • The trade data on the $16 billion tariff that went into effect will be out in November and September’s $200 billion will be out in December.

China’s latest report on economic growth fell short of...

http://container-news.com/tariffs-drop-trade-numbers/

Importers’ steps to avoid bond insufficiency

The Trump administration’s recent imposition of tariffs on certain goods means that importers may need higher bond amounts to comply with the higher tariff rates. The tariffs, which include the section 232 tariff applied to steel and aluminum imports and the section 301 tariff applied to goods imported from China, increase the amount of duties payable by importers.

Since Customs Border Protection (CBP) determines sufficiency of continuous bonds through duties, taxes, and fees on a rolling...

http://container-news.com/importers-steps-avoid-bond-insufficiency/

Port of Long Beach sees container volume hit 8 million mark, just ahead of tariff start

From Freight Waves:

The Port of Long Beach says September container volumes fell from a year ago, but fiscal year volumes hit a new record. The results come just ahead of the tariffs the U.S. imposed on $200 billion in Chinese imports.

The second largest port by container volume, Long Beach saw loaded inbound containers fall 2.5% from a year ago to 357,301 twenty foot equivalent units (teu) last month. With empty containers seeing a small increase, overall September activity was flat at 701,205...

http://www.longshoreshippingnews.com/2018/10/port-of-long-beach-sees-container-volume-hit-8-million-mark-just-ahead-of-tariff-start/

U.S. NRF: Not easy to shift supply chains out of China

Companies caught in the crossfire of China-U.S. trade frictions are facing the harsh reality to rethink their supply chains, but it is not easy to adjust and shift the supply chains away from China, the U.S. National Retail Federation has said.

“Tariffs are taxes that raise costs for businesses and consumers,” Bethany Aronhalt, spokeswoman for the National Retail Federation, the world’s largest retail trade association, told Xinhua in an interview.

“For retailers, tariffs are very disruptive to...

http://container-news.com/u-s-nrf-shift-supply-chains-china/

Increased tariffs at NC Ports

Effective November 1, 2018 there will be a general rate increase of 5% to NC Ports’ Marine Terminal Operating Schedule (MTOS) #1.
To review current tariff and pricing guide you can visit the port’s website, www.ncports.com.

“To ensure clarity, all questions or concerns should be communicated in written format to the undersigned tariff administrator or your account representative”, said Ted Koehncke, Manager, Customer Service & Commercial Planning, in the tariff notice.

The post Increased tariffs...

http://container-news.com/increased-tariffs-nc-ports/

China’s tariff cuts amid trade war

China on Wednesday (9/26/2018) unveiled plans to cut tariffs for products including machinery, electrical equipment and textile products beginning on November 1, as the country braces for an escalating trade war with the United States.

The cuts on over 1,500 industrial products are expected to lower costs for consumers and companies by about 60 billion yuan this year, the state cabinet said in a meeting chaired by Premier Li Keqiang, according to the state radio.

Read more on Reuters.

The post Chin...

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