United States-Mexico-Canada Agreement The USMCA agreement came into effect on July 1st 2020, replacing the North American Free Trade Agreement (NAFTA), which had been in place since 1994. The aim of the new accord was to modernize trade policy among the U.S., Mexico...
Global trade trends show that U.S. imports surged in the run-up to the holidays. But after nine months of pandemic shut-downs, following on a year of trade dampening tariffs, the fall’s record volumes are largely making up for the losses in the spring. 2020’s year-end...
U.S. Alcohol Imports – By Volume Heavily impacted by COVID-19 during the first half of 2020, imports of wine and spirits under chapter 22 of the Harmonized Tariff Schedule (HTS) continue to lag behind 2019. According to the latest available trade data from Descartes...
Sophisticated and globally connected supply chains have made the movement of goods more efficient and accessible but, at the same time, susceptible to economic crisis and natural disasters such as the financial crisis in 2008 and the Asian Tsunami in 2011. While many...
Companies in diverse sectors, including consumer electronics, automobiles and automotive parts, pharmaceuticals, and apparel are warning they are mere weeks away from running out of production-critical supplies as Chinese factories shut down and cross-border commerce...
Approved by Congress and signed by President Trump on January 29, the U.S.-Mexico-Canada Agreement is one big step closer to entering into force. Mexico was first to ratify the trade pact on June 19, 2019. Canada’s House of Commons will be taking up the USMCA this...
President Donald Trump and China’s Vice Premier Liu He have signed an initial agreement that commits China to policy changes on intellectual property (IP), technology transfer, financial services, and currency management. China also promises substantial purchases of...
U.S. tariffs on imports from China consigned the traditional peak shipping season to the ghosts of Christmases past this year. The U.S.-China trade war pushed the U.S. import shipping volume trend line for 2019 to an early peak in July before driving TEUs [20-foot...
Starting in March of 2018, the Trump Administration has deployed tariffs and import quotas on select steel and aluminum products under Section 232 of the Trade Expansion Act of 1962, which authorizes these measures to control imports in the cause of national security....
Mexico, steadily rising in rank to No. 12 among exporting nations, has eclipsed China and Canada to become the U.S.’s leading trade partner. Mexico is now the top U.S. trade partner, ranked by total value of import and export trade, according to Descartes...
