Trade

May shipments—at 1,002,314—dropped 7.4% on an annual basis. And on a year-to-date basis, shipments through the first five months of 2020—at 4,840,335—were off 2.9% compared to the same period a year ago. Containerized shipments in May—at 2,043,403—were off 19.7% annually, and on a year-to-date basis, they were off 8.3% annually, to 10,762,310.

At a time when the combination of the COVID-19 pandemic and the ongoing United States-China trade war continue to have a detrimental effect on container shipping, and the supply chain, at large, the head of the nation’s largest port says it is time for the port to reinvent itself. That was the word from Gene Seroka, executive director of the Port of Los Angeles (POLA).

In addition to the current economic issues caused by COVID-19, there are other significant events in 2020, such as the U.S. presidential election and the United States-Mexico-Canada Agreement (USMCA) implementation, which could directly affect international trade.

​In an odd example of unintended consequences, the U.S. government still is collecting as much as 25% tariffs from Chinese manufacturers on face masks and other protective wear for U.S. health care workers on the front lines of fighting the COVID-19 pandemic.

February shipments—at 846,054—decreased 7.5% compared to February 2019, and containerized freight shipments, for the month, were down 4.5%. On a year-to-date basis through February, U.S.-bound waterborne shipments—at 1,874,305—are down 5.4% compared to the same period a year ago.

Total February POLA volume—at 544,037 TEU (Twenty-Foot Equivalent Units)—saw a 22.9% annual decline. At the Port of Long Beach, total February volume—at 538,428 TEU—saw a 9.8% annual decline.

6 Best Practices to Improve Compliance with a Restricted Party Screening Solution, to discover strategies to streamline your global trade.

As was expected following both the United States House of Representatives and Senate each voting to move forward with the United States Mexico Canada (USMCA) agreement, as a replacement for its predecessor the North American Free Trade Agreement, USMCA was formally signed into law by President Trump yesterday.

While the ink may now be dry from the United States-China Phase One trade deal coming to fruition on January 15, there are more than a few things to watch out for and keep in mind going forward.

December shipments—at 969,53—were off 8.5% annually and fell for the fourth consecutive month, and were down more than November’s 4.2% annual decline. For calendar year 2019, total shipments—at 12,243,739—slipped 1.0% compared to 2018, marking its worst annual output going back to 2009.

The office of the United States Trade Representative (USTR) said that the U.S. will be maintaining 25% tariffs on approximately $250 billion of Chinese imports, coupled with 7.5% tariffs on approximately $120 billion worth of Chinese imports, down from an original levy of 15%. And 15% duties that were to be effective on List 4B items, which were to originally take effect December 15, will not be assessed.

With “Phase One” of the United States-China trade agreement expected to be inked on January 15, there are more than a few moving parts for supply chain stakeholders to keep a close eye one. Logistics Management Group News Editor Jeff Berman recently caught up with Ben Bidwell, Director of U.S. Customs for Minneapolis, Minn.-based global logistics services provider and freight forwarder, to get an up-to-date snapshot of what shippers need to be aware of and watch out for, with...

Shippers who are current on the global trade landscape are assets to their service partners and clients. Our global trade expert provides us with a review of the key trade topics that should be top of mind as we enter 2020.

Coming off of October, which marked the worst performing month for United States-bound waterborne shipments since March 2016, or three and a half years, in absolute terms, when there was a 19.4% decline, imports fell again in November but at a reduced rate, according to data issued this week by global trade intelligence firm Panjiva.

Significant progress has been reached towards the possibility of signing the United States Mexico Canada Agreement (USMCA), an updated version of the North American Free Trade Agreement (NAFTA) into law, with U.S. House Democrats and the White House indicating they have come to terms on a working deal, according to various reports and statements issued today.