July 2022
By NNR USA In Uncategorised On 14th July 2022
MARKET UPDATE
China's Exports are on the Rise
The recent easing of China’s Covid-19 lockdown has allowed factories to begin catching up on delayed orders.
While the trade picture looks strong, soaring inflation and rising borrowing costs are expected to eat into the household’s disposable income creating additional headwinds. At the same time, the U.S. retailers and manufacturers are indicating they have well-stocked inventories, and some are implying that orders may soften in the months ahead due to consumer demand waning.
Now that China is loosening Covid restrictions, the major U.S. ports are expecting to begin receiving a rush of inbound containers exceeding year-earlier levels.
This all comes at a crucial time, with peak season expected to start earlier than usual this summer, coupled with contract talks heating up between PMA and the West Coast dockworkers.
July 14, 2022
How to Remain Compliant in a Changing Landscape
Exporting merchandise from the U.S. is not as simple as it may seem.
Understanding what type of information is needed or what items should be checked can be difficult but can save your operation from costs and punishments by governing bodies if properly executed.
Ike Miura, Export Compliance Manager at NNR USA will discuss key items to verify prior to exporting. Read More
AIR FREIGHT
July 2022 Air Market Update Airfreight
Air belly capacity is up with increased summer travel. The fuel surcharge is rising with many carriers, playing catch-up to last month’s high jet fuel prices. Find out more about what is happening with air freight this month. Read More
TIP OF THE MONTH
It’s monsoon season!
Freight headed to India should be shrink-wrapped appropriately to help protect from water damage. Heavy machines and other sensitive products should be vacuum-packed to prevent moisture seepage.
OCEAN FREIGHT
July 2022: Ocean Shipping Reform
Learn more about the new Ocean Shipping Reform Act, on-going labor negotiations around the world and the status of key ocean ports. Read More
TIP OF THE MONTH
This month is busy with a myriad of ongoing labor negotiations that have the potential to significantly impact ocean freight, especially in the U.S.
Consider alternative routings as necessary to avoid high-stress points to meet transit time requirements.
DOMESTIC TRANSPORTATION & WAREHOUSE
California Law AB 5 Threatens Port Drayage
On June 30th, the United States Supreme Court declined to hear arguments regarding California Assembly Bill 5.
Now, strikes are taking place at Californian ports in protest. Read More
Intermodal Woes
As intermodal volumes rise, expect shortages and delays in major markets. Read More
CROSS-BORDER: MEXICO - USA - CANADA
Baja California Positioning to be Hub for EV Manufacturing
Starting in 2035, all new cars sold in California and other parts of the United States will have to be electric or run on other alternative energy sources.
Business Leaders in Baja, California, recognize this as an opportunity to lead their state into becoming a hub for the manufacture of low-emission vehicles. Read More
CUSTOMS BROKERAGE & TRADE COMPLIANCE
USMCA: Challenges with Automotive Goods
The U.S. Trade Representative issued a report to Congress on USMCA's impact on the automotive industry. New stringent rules of origin combined with market conditions cause concern for vehicle and parts producers. Read More
Section 301 China Latest
Change was expected on List 1 tariffs as early as July 6th. Now, past due, USTR has yet to issue a notice on the future of Section 301 tariffs. Read More
TIP OF THE MONTH
Is your company planning on importing a new product?
To avoid any unpleasant surprises, check if the product is subject to additional duties over and above general rates, special filing requirements, or restrictions.