Overall January witnessed a significant increase in worldwide air cargo demand, contrasting with the consistent demand for US container imports aligned with pre-COVID peak season patterns. The shift of Asia-Europe cargo from sea to air, spurred by disruptions in the Red Sea and the later Lunar New Year in 2024, adds to the complexity of…
As the Lunar New Year approaches, ocean carriers on the Asia-US trade lane are aggressively pushing for General Rate Increases (GRIs), aiming to capitalize on the seasonal demand surge and an already tight market environment exacerbated by the Red Sea crisis. This crisis, prompted by security concerns and attacks against commercial shipping, has led to…
The Red Sea, a crucial artery for global trade, has recently become a hotspot for geopolitical tensions that have far-reaching implications for the world’s supply chains. The conflict involves attacks by the Houthi rebels in Yemen, primarily targeting commercial vessels navigating through the strategic waters that connect Asia with Europe and the United States. Let’s…
The Office of the United States Trade Representative (USTR) has announced an extension for the previously reinstated Section 301 tariff exclusions on imports from China. This decision impacts 352 specific product categories, alongside 77 COVID-19-related exclusions, now extended through May 31, 2024. Section 301 authorizes the USTR to investigate and take action against any unfair…