Questions about Tariffs?
Feeling unsure about how tariffs might affect your goods? Whether you’re exploring exemption options or just need a clearer picture, we’re here to help. Send us an email at [email protected]
Tariffs –
President Trump recently announced his intent to bump the steel and aluminum tariffs from 25% to 50%, with Wednesday (June 4th) at 12:01am EDT, being the in effect date, per an Executive Order. The United Kingdom has been exempt from the additional 25% increase, however.
Additionally, last week the U.S. Court of International Trade ruled some of President Trump’s tariffs to be unconstitutional. A temporary stay now allows the tariffs to remain in place while the ruling is appealed. Check out our Freight News section that has more details about this ruling and what it means for shippers.
Capacity – CMA CGM plans to return to the Suez Canal with an India-Mediterranean service. As the Journal of Commerce reports, the first vessel is scheduled to depart Nhava Sheva on June 7th and transit through the Suez Canal June 28th. Followed by other vessels transiting the Suez Canal as well.
Gemini Cooperation released a new transpacific service that will go from East Asia to the Port of Long Beach. Starting June 24th, the service starts from Xiamen to Busan to Long Beach and Back to Xiamen, according to a Hapag Lloyd press release.
Port Infrastructure –
Port Houston will receive $131 million in funding to their ship channel construction, operations and maintenance. On top of that, the port reported strong volumes in April, per the port’s press release. Specifically, they handled 387,478 TEUs throughout their terminals, which is a 20% increase from the year prior.