Market Update

Tariffs –

In a recent decision, the U.S. Court of International Trade determined that former President Trump overstepped legal boundaries when implementing certain import tariffs. Although the ruling challenges the legitimacy of those tariffs, they will remain in effect for now—a temporary stay was granted as the Trump administration appeals the decision. Court proceedings are scheduled to begin July 31.

Meanwhile, as of June 4, the U.S. has doubled tariffs on steel and aluminum imports from 25% to 50% through an Executive Order. However, the United Kingdom has secured a temporary exemption from the added 25%. On June 16, the U.S. and U.K. announced a trade agreement allowing a capped volume of British steel to enter the U.S. market free of the original 25% duty—part of a broader effort to strengthen economic ties. Full details are available in the White House Executive Order.

Demand –

Import container bookings have increased after a decline, triggered by the significant tariffs on Chinese goods back in April, according to the Import Oceans TEUs Index (IOTI).

Freight News: G7 Summit Takes Place

The G7 Summit—an annual gathering of leaders from Britain, Canada, France, Germany, Italy, Japan, and the United States—was held June 15–17 in Canada. The summit serves as a forum for these major economies to address pressing issues related to global security, economic policy, and international governance. At times, non-member countries are invited to participate in select discussions.

On Monday, President Trump departed the G7 early, due to the ongoing conflict between Israel and Iran, according to multiple news outlets. On Tuesday during final sessions, the nations were joined by Ukrainian President Volodymyr Zelenskyy and NATO chief Mark Rutte, per AP News.

Did You Know? With Johnny Cargo!

Answer: B – Title of goods, contract of carriage, and receipt

The Bill Of Lading serves as a receipt for the goods purchased. The receipt indicates that the cargo has been properly loaded onto the transportation vessel (steamship, airplane, cargo train, etc.) Secondly, the Bill Of Lading serves as evidence of contract of carriage. In other words, the BOL details the type, amount, and destination of the goods being shipped as well as the condition they may be in. Lastly, the Bill Of Lading plays the role of the title of goods, meaning the owner of the cargo is the one in possession of the Bill Of Lading.

InterlogUSA’s chat bot Johnny Cargo sure is an inquisitive soul. However, he doesn’t just ask about industry-related trivia. Johnny also loves to ask supply chain professionals about their shipping arrangements and which areas can benefit from InterlogUSA’s assistance as an end-to-end freight forwarder.

He works around the clock and is always available for conversation.

Why is Blocking and Bracing Your Cargo Important?

If you’re looking to avoid cargo damage, taking precautions can help steer you out of harms way. 

Blocking and Bracing is a way to help secure your cargo to help avoid damage during transit. The ultimate goal of blocking and bracing is to keep your goods from shifting length-wise (front-to-back).

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