Commentary: Foreign trade zones are not “free trade zones”
Darren Prokop writes about foreign trade zones and their impact on imports, exports and the economy.
Darren Prokop writes about foreign trade zones and their impact on imports, exports and the economy.
The Office of Foreign Assets Control has added the son of Nicaraguan President Daniel Ortega to the Specially Designated Nationals and Blocked Persons List.
U.S.-China deal should boost shipping stock sentiment, assuming investors believe it’ll stick.
When companies self-disclose wrongdoing to the Justice Department, “the benefits of their cooperation will be concrete and significant,” said Assistant Attorney General John Demers.
The U.K. is now almost certain to leave the European Union on Jan. 31. However, a no-deal Brexit remains a possibility.
The White House on Dec. 12 announced the private sector technology winners of its Opioid Detection Challenge.
The Treasury Department’s Office of Foreign Assets Control warns U.S. companies to exercise due diligence against entanglements with sanctioned transportation services providers.
Shuttering the World Trade Organization’s Appellate Body threatens the ability of countries to settle trade disputes, the U.S. Chamber of Commerce warns.
Americans for Free Trade spokesman Jonathan Gold said the White House needs to “finalize a deal with China to end the trade war and remove all tariffs.”
Rep. Richard Neal, chairman of the House Ways and Means Committee, calls USMCA “a triumph for workers across America.”
The agreement is hailed as “a critical step forward in our economic and security partnership.”
Office of Foreign Assets Control adds Try Pheap and 11 of his companies to the Specially Designated Nationals and Blocked Persons List.
The Commerce Department is expected to propose new rules that lower the U.S. content threshold for licensable reexports and when foreign-made products are subject to U.S. export controls.
U.S. Customs and Border Protection said excluding ocean cargo from the Section 321 pilot program reduced “a substantial number of relevant shipments of potential participants.”
When it rains it pours and Boeing Co. could use an umbrella. Now the FAA is piling on with its own complaint against the airplane maker.
Agriculture shippers and forwarders work with CBP and Census in an effort to eliminate $5,000-$10,000 penalties for minor export data filing errors in the Automated Export System.
While Customs and Border Protection’s Automated Commercial Environment has automated much of the cross-border trade process, the U.S. export manifest process remains paper intensive and error prone.
CNBC trade expert and author Lori Ann LaRocco says if trade talks were really progressing, U.S. exports to China would be ticking up, not down.
Trade tensions look like they’ll get worse before they get better, a negative for ocean shipping demand.
The Treasury Department agency is closely monitoring vessel name changes used by Venezuelan and Cuban authorities to sidestep U.S. trade sanctions.
An Office of the U.S. Trade Representative investigation concludes that a French tax on digital services discriminates against U.S. companies, such as Google, Apple, Facebook and Amazon.
A U.S. man living in Singapore illegally presented technical information at the Pyongyang Blockchain and Cryptocurrency Conference in April on how North Korea can use blockchain technology to evade sanctions.
Dow Jones Risk & Compliance has 24/7 monitoring and dedicated researchers to track and build detailed profiles of individuals and entities that are subject to economic sanctions.
President Trump cited currency manipulation as the reason to reimpose tariffs on imports from the two South American countries.
Maritime, air and overland trade routes into Europe are being piggybacked by criminal gangs deploying the latest digital supply chain technologies to help meet mushrooming demand for illegal drugs across […]
Dry bulk ship operator Malaysian Bulk Carriers has reported another set of losses. Barring unexpected positive developments, it may make a yearly loss. It is also reducing both long-term and current assets. The company has entered into working capital deficiency.
Courier, domestic and international logistics company GD Express reported a slowdown in total comprehensive income in its latest quarterly results. The company generated increased revenues but increased costs too. Profits shrank.
A proposed rule calls for the Commerce Department to determine whether certain technologies pose a threat to U.S. national security and prohibit those trade transactions.
Shipments of counterfeit driver’s licenses and blank card stock were discovered and seized by Customs and Border Protection officers at Louisville and Memphis mail facilities.
Animal rights groups call for the European Commission to ban the live transport of animals following the Black Sea tragedy.
For two years the software company’s sanctions screening failed to detect a Slovenian app store developer and its owner who were placed on the Specially Designated Nationals and Blocked Persons List.
Mark Lambert, who served as co-president of nuclear materials transport specialist TLI, will be sentenced by the District Court of Maryland on March 9, 2020.
Trucking and trade bodies are outraged by the ongoing tactics of container terminal operators to frequently hike already huge fees on trucks. Lobbying of government ministers is underway and even port operators are disappointed at the ongoing tactics of terminal operators.
Port of Los Angeles Executive Gene Seroka cautioned the port’s Board of Harbor Commissioners that even if a trade deal is reached with China, it may take months or years […]
While most license applications related to the Chinese telecom are expected to be denied, news reports surface that some U.S. companies have started receiving approvals from the U.S. Department of Commerce.
U.S. export compliance advisers recommend exporters be realistic in their expectations with regard to the department’s license approval process for the blacklisted Chinese telecom.
U.S. Customs and Border Protection said optical lenses manufacturer Satisloh used false descriptions, tariff classifications and duty rates on its import entries for certain machinery and parts.
The department’s extension of the temporary general license gives U.S. companies another 90 days to continue their business activities with the Chinese telecom.
U.S. Customs and Border Protection said the enhancements, to be rolled out over three phases through the rest of this year and 2020, pave the way to retiring legacy truck manifest application.
U.S. Customs and Border Protection will use the industry’s comments to refine its Section 321 E-Commerce Data Pilot.
U.S. Customs and Border Protection officers in Philadelphia discovered the counterfeit rings potentially valued at $562,000, if genuine, in an express shipment manifested as a “box” valued at $14.
Maersk, MSC, Hapag-Lloyd and COSCO will be the main market share “losers”, says Alphaliner.
Boston’s freight move thru New York? No suh, because the Hub is best served by its own.
It’s a largely good set of third-quarter results for the Philippines-based but globally operating container terminal operator ICTSI. “Strong financial performance,” says President and Chairman Enrique K. Razon. On a nine-month basis, the growth surge is pronounced.
Risks based on cargo moving through Los Angeles/Long Beach ports
Climate change, electric vehicles, alternative power, terrorism, and regional political conflict are significant risks to Saudi Aramco’s business, according to the company’s initial public offering prospectus.
Lori Ann LaRocco’s new book chronicles the tariff war and tracks its impact through trade flows.
Growth from last year’s front loading makes for tough comps, as trade war upsets seasonal patterns.
Between February 2018 and September 2019, U.S. consumers and businesses spent an additional $38 billion on products due to tariffs on Chinese goods, Tariffs Hurt the Heartland said.
The NCBFAA, which represents the customs brokerage industry, has become increasingly upset with the management at the Customs and Border Protection-contracted test sites and the way applicants are treated.
False submission of shipment information in the U.S. government’s Automated Export System helps sink scheme to smuggle military-style inflatable boats and engines to China, according to officials.
U.S. Customs and Border Protection officers at the ports keep watch for untreated wood packaging in cargo shipments to prevent the spread of wood-boring pests.
Commerce secretary says talks on foreign automaker investment in the U.S. may again delay imposition of tariffs on imported vehicles.
U.S. Customs and Border Protection said importers of tobacco from the southeast African country must demonstrate the goods are not in violation for clearance.
The U.S. Justice Department said Peter Sotis, former owner of Florida-based Add Helium, is accused of smuggling rebreather equipment without an export license to the war-torn country.
Ben Thrower writes about the importance of American agriculture – not just to the U.S. population, but to the country’s trade negotiations.
The PACT Act closely mirrors the unsuccessful Graham-Van Hollen Turkey Sanctions Bill in the Senate.
Ocean shipping along the coast of Oman, in the Middle East and throughout the Arabian Sea, is being disrupted by Cyclone Kyarr – the most powerful storm ever in that sea-space. However, local sources advise that shipping through a globally critical oil chokepoint, the Strait of Hormuz, is unaffected.
Read what Ted Stevens Anchorage International Airport is doing to stay relevant and its importance to U.S.-international trade.
Growing source of U.S. containerized goods imposes navigation restrictions due to sunken boxship.
Forager, a Chicago-based cross-border freight brokerage, announced the official launch of its new technology, SCOUT. The instant pricing and booking technology brings on-demand pricing and capacity to the United States-Mexico-Canada […]
Engines in Australian trucks may have been modified to allow them to break speed limits. Australian police have been reading premises across the country. In other Down Under News: APE eats up AHG; new boss for Orcoda; mobile phone driving surveillance laws; broken bridges; accident black spots; corporate debt.
“This new humanitarian mechanism will help international companies that seek to engage in permissible humanitarian trade with Iran to ensure that they do not run afoul of sanctions,” Treasury Secretary Steven Mnuchin said.
Canadian national Alexis Vlachos, who was sentenced to prison last September, will not be able to export or receive anything from the U.S. for the next seven years, the U.S. Bureau of Industry and Security said.
Global logistics software developer WiseTech (ASX: WTC) has come under renewed attack from investment advisor company J Capital. WiseTech continues to reject all claims of impropriety and asserts J Capital is simply “wrong.”
The U.S. Department of Commerce has opened an inquiry into whether companies are circumventing anti-dumping and countervailing duty orders on steel rebar from Mexico by bending the product “at one […]
Lost in the US-China’s trade war’s impact on imports is the devastating effect on US exports
Battery Council International, which represents U.S. lead acid battery manufacturers, praised the removal of the potentially unsafe products from the supply chain.
The last couple of days took a dramatic turn with U.S. short seller J Capital making explosive allegations that global logistics software behemoth, WiseTech – a A$9 billion (US$6.2 billion) company, has been seriously misleading investors. WiseTech has robustly denied these claims. In other news: CTI Logistics annual results; truck rest stops “desperately needed”.
The Office of Foreign Assets Control on Oct. 17 extended the general license for Nynas AB that is 50% owned by Venezuela’s state-owned oil company, Petrόleos de Venezuela S.A.
Terminal operator joins TradeLens as it looks to align with ocean carriers and provide better box tracking.
Japan’s freight industry is set for a downturn on the back of declining economies in the U.S., China and the Eurozone, new research reveals.
Turkey has the next five days to maintain the ceasefire against Syrian and Kurdish forces before the U.S. sanctions are removed.
West Coast forwarders and customs brokers discussed blockchain, e-commerce, big data and Section 321 at their annual WESCCON gathering.
The Hong Kong Human Right Rights and Democracy Act, which unanimously passed the House of Representatives on Oct. 15, puts pressure on Hong Kong to uphold U.S. export controls.
A boost to demand from higher commodity volumes and a reduction in supply owing to IMO 2020 low sulfur fuel regulations are giving a boost to the international dry bulk freight markets, says Hong Kong ship operator Pacific Basin (HKEX: 2343).
Large aircraft are included on the list of $7.5 billion worth of European imports that will be subject to new U.S. tariffs starting Oct. 18. That means U.S. airlines with […]
The Trump administration takes aim at financial assets of Turkish government agencies and officials linked to military strikes in Syria, but Congress may legislate broader sanctions in the days ahead.
Although Super Typhoon Hagibis has caused catastrophic floods, mudslides and at least 68 tragic deaths in Japan, FreightWaves understands from local sources that Tokyo’s critical freight infrastructure – seaports and airports – are undamaged. Japan’s wider logistics network is suffering from a miscellany of damage such as flooding.
The announcement by President Donald Trump not to increase tariffs on $250 billion in Chinese imports to the U.S. and boost U.S. agriculture exports did not address other structural issues.