Overall This week, the Drewry composite index decreased by 2%. Freight rates between various ports have shown diversity; rates from Rotterdam to New York remained stable. Rates from Shanghai to Los Angeles decreased by 5% and Shanghai to New York declined by 1%. The ILA port strike, which began on October 1, 2024, ended after…
As President-elect Donald Trump prepares to take office, his ambitious tariff proposals have raised significant questions about their impact on global trade and the web of supply chains that depend on international commerce. By targeting nations like China, Mexico, and members of the BRICS bloc, Trump is aiming to overhaul trade relationships and his plans…
The International Longshoremen’s Association (ILA), representing approximately 45,000 dockworkers along the East and Gulf Coasts, could strike again in January 2025 posing a significant disruption to U.S. supply chains. This past October, the ILA initiated a three-day strike after the expiration of their contract, primarily due to disputes over wages and the automation of port…
The US presidential election will have a substantial impact on global trade policies, particularly tariffs, which have been a focal point for recent administrations. Both US-based companies and international trade partners are closely monitoring potential shifts in policy that may affect everything from supply chains to pricing strategies. Given the current climate, this article explores…
Canada’s logistics and trade sectors are facing unprecedented strain as labor disputes escalate at two of the country’s largest ports. The Port of Montreal, Canada’s second-largest container port, is now largely paralyzed, with two major terminals shut down due to an ongoing strike by dockworkers. This development comes amid a similar labor conflict involving British…
Overall This week, the Drewry composite index increased by 4%. Freight rates between various ports have shown diversity; rates from Rotterdam to New York remained stable. Rates from Shanghai to Los Angeles increased by 1% and Shanghai to New York remained stable. The ILA port strike, which began on October 1, 2024, ended after three…
The U.S. Department of Agriculture’s Animal and Plant Health Inspection Service (APHIS) is moving forward with Phase VII of the Lacey Act provisions, which will go into effect on December 1, 2024. This phase introduces 250 new Harmonized Tariff Schedule (HTS) codes for plants and plant products that will now require a Lacey Act Import…
On September 13, 2024, the United States Trade Representative (USTR) finalized long-awaited modifications to the tariffs imposed under Section 301 of the Trade Act of 1974. The tariffs, originally implemented to pressure China to reform its policies on technology transfer and intellectual property rights, are part of the broader U.S.-China trade conflict. The latest update…
Overall The latest Drewry WCI composite index per 40ft container is 64% below the previous pandemic peak in September 2021, but it is 160% more than the average 2019 (pre-pandemic) rate. Additionally, the average index for the year-to-date significantly exceeds the 10-year average, highlighting the lasting impact of the exceptional conditions during the 2020-2022 period.…
In a dramatic escalation, dockworkers walked off the job early Tuesday morning at 36 major ports across the U.S. East and Gulf coasts, marking the first strike of its kind in nearly 50 years. This stoppage halts nearly half of all U.S. trade, affecting vital imports such as automobiles, consumer electronics, and furniture, though energy…