Market Update

Freight Market Update: October 9, 2019

Ocean and air freight rates and trends; trucking and customs news for the week of October 9, 2019.

准备好开始了吗?

Flexport makes shipping your cargo transparent, reliable, and affordable

Want to receive our weekly Market Update via email? Subscribe here!


Ocean Freight Market Update



Air Freight Market Update


Weaponizing Trade Policy to Protect the Environment Amid the US-China trade war and the fast-approaching IMO 2020, a new policy is being floated in Europe: a potential carbon border tax that would aim to block energy-related European manufacturers, including steelmakers and oil refiners, from relocating to countries outside the EU that have not prioritized efforts to combat climate change.

New IMF Head Paints Grim Picture of Trade War Effects for Global Economy A synchronized upswing for the global economy that has been in effect for two years has switched to a synchronized drag, according to Kristalina Georgieva, the new leader of the International Monetary Fund (IMF). With the US-China trade war at least partly to blame for the slowdown, the IMF warns that the global economy could get hit with a loss to the tune of about US$700B by 2020.


Customs and Trade Updates


WTO Arbitrator Rules in Favor of US to Retaliate with Tariffs on EU The 15 year-long fight over the subsidies the EU was providing to Airbus has a final verdict from the WTO and it went in favor of allowing the US to impose tariffs on $7.5 billion worth of goods. The ruling allowed the US to impose up to 100% tariffs on the goods, but in a full list released by the USTR they had 10% tariffs on jets and a 25% tariff on some foods (mainly cheese, wine, fruits and vegetables), tools, and some household goods. The list is scheduled to go into effect for any goods imported on or after October 18th. There will be no exclusion process rolled out at this time for importers of these items.

BIS Adds 28 Chinese Entities The Bureau of Industry and Security issued a final rule that will go into effect on October 9th. This rule will impose export license requirements for the 28 entities listed to protect against chemical and biological agents that are consumer goods, medical products, packaged for retail sale or for personal use. These requirements will apply to any item that is transferred, exported, or re-exported. If a shipment was already on board a vessel on October 9th it may proceed to the destination without the license.

MTB Petition Portal Opens October 11th The portal to file for the Miscellaneous Tariff Bill opens October 11th at 8:45am EST. Filing for MTB's can get importers a temporary duty reduction or suspension of duties on their products. The portal will be open for 60 days (December 10th).

For a roundup of tariff-related news, read our Tariff Insider.

Share the Article

More From Flexport

arrowImagearrowImage

准备好开始了吗?

注册 Flexport 账号或要求查看我们的行动平台。

关注微信公众号阅读每周的航运市场动态。

立即扫描二维码关注 Flexport。

flexport-wechat
法律声明

美国清关服务由 Flexport 全资子公司且为美国持牌报关行的 Flexport Customs LLC 提供。国际海运代理服务由具有无船承运人资质 (FMC#025219NF) 的 Flexport International LLC 提供。美国内陆拖车服务由具有 FMCSA 代理牌照 (USDOT #2594279 和 MC #906604-B) 的 Flexport International LLC 提供。所有交易均适用Flexport 之标准条款 (详情请访问 cn.flexport.com/terms)。 沪ICP备16041494号

© 2020 Flexport, Inc. 版权所有

使用条款/隐私政策