Customs & Logistics News
Recent Editions
U.S.
December 29, 2017
General System of Preferences (GSP) to Expire on December 31, 2017
House Ways and Means Committee Chairman Kevin Brady advised that GSP will expire on December 31, but will be a priority for congressional passage for renewal in early 2018. It is expected that any renewal will be retroactive to January 1, 2018, therefore if renewal, refunds of duties paid would be issued by U.S. Customs. U.S. Customs GSP website page is available at: https://www.cbp.gov/trade/priority-issues/trade-agreements/special-trade-legislation/generalized-system-preferences
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies
Alcohol Excise Tax Cuts for 2018 and 2019
President Trump on December 22, signed into law tax legislation that will cut excise tax on beer, wine and distilled spirits in 2018 and 2019. In following link, see numbered pages 520 through 530 in accessible PDF: https://www.congress.gov/congressional-report/115th-congress/house-report/466
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies
Reminder – Harmonized Tariff Schedule (Tariff Number) Update
It is a Customs requirement that the tariff number(s) of the good(s) imported be provided to Customs. The 2018 Tariff Schedules for U.S. Customs & Border Protection and Canada Border Services Agency are available. Please ensure that the tariff number(s) you provide on the customs invoice is accurate and complete. The updated U.S. Tariff Schedule is available at: https://hts.usitc.gov/current The Canada Customs tariff schedule is available at: https://www.cbsa-asfc.gc.ca/trade-commerce/tariff-tarif/2018/html/tblmod-eng.html
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies.
Citing Congestion, Carriers Cut Services to Three China Ports
Maersk Line and MSC, the main players in the 2M Alliance, have stopped a weekly visit to Shanghai on the westbound leg of their Far East-North Europe AE-2/Swan route until further notice, analyst Alphaliner said. The carrier had already skipped four sailings to the port in November and December on the loop, one of six offered by the alliance on the Far East-North Europe route, the analyst said. https://www.joc.com/maritime-news/container-lines/maersk-line-limited/carriers-cut-asia-europe-calls-three-chinese-ports_20171227.html
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies.
Demand Pushes U.S. Spot Truck Rates to New Highs
Truckers searching for freight on the US spot market last week had a green Christmas and not because of a lack of snow, but thanks to an abundance of money. Freight demand in the United States remained high right to the last moment, which pushed spot market truckload rates to new highs. https://www.joc.com/trucking-logistics/demand-pushes-us-spot-truck-rates-new-highs_20171228.html
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies.
Canada
December 29, 2017
Status Update on Possible Canada-China Free Trade Agreement
Canada and China have agreed to continue exploratory talks for a possible free trade agreement, but not to launch formal negotiations at this time. Following meetings between Prime Minister Justin Trudeau and Chinese Premier Li Keqiang, Trudeau said, “I’m pleased that we’ll continue our exploratory discussions toward a comprehensive trade agreement between Canada and China.” Premier Li, while alluding to an impasse on not starting formal negotiations yet said, “On human rights, rule of law and some other issues we have also had discussion, both sides should view that, due to the different national circumstances, it is only natural that we don’t see eye-to-eye on some issues”. As reported by Bloomberg News: https://www.bloomberg.com/news/articles/2017-12-04/canada-china-fail-to-reach-agreement-on-starting-trade-talks
This document is CONFIDENTIAL and contains PROPRIETARY information. It is solely for the use of the recipient. Any further review, disclosure, copying, dissemination, distribution, or use of any of the information contained in this document is strictly prohibited. The recipient shall be liable for damages resulting from any disclosure of this information to any third party. ©2017 Trans American Companies.
