In early September, the U.S. Trade Representative (USTR) announced it had received comments from a number of entities supporting a continuation of the Section 301 tariffs on products produced in China. This culminates the first phase of USTR’s statutorily mandated “review of necessity” for Sec. 301 tariffs before they expire after four years. However, by September’s end, USTR…
CONTINUE READINGIndustry Resources
Learn about IHA’s cost-saving programs, including the International Housewares Shippers Association, designed to help members grow their business!
Ocean Rates Reflecting Weak Demand
The fourth quarter of 2022 is shaping up to be a challenging time for both carriers and shippers. This same time last year, shippers were faced with record high rate levels and lack of space on containerships. Carriers were flush with cash and able to choose the cargo they wanted to manage. As we enter Q4 2022, the Asia to U.S. market has taken a 180-degree turn. Container…
CONTINUE READINGU.S. Retail Intelligence – August
August 31 – Hy-Vee to Hold Next Quarterly ‘Best of Local Brands’ Summit This year, Hy-Vee is focused on identifying suppliers with diverse backgrounds and urges minority-owned and women-owned businesses to apply for the quarterly summits From: Progressive Grocer August 31 – Dollar General Makes Additional Leadership Changes Dollar General announced several leadership…
CONTINUE READINGOcean Rates are Officially on the Decline
There is no longer denying that the Asia to U.S. market is showing signs of weakness. Major retailers have distribution centers that are already at capacity, so purchase orders are being delayed or cancelled altogether. Usually during the months of September and October, shippers are forced to pay peak season surcharges to secure space on vessels. That will not be the case…
CONTINUE READINGFederal Spending, Taxes, Inflation and Interest Rates
According to many economists, a major contributor to inflation in the U.S. economy is federal spending. Congress had already spent $3 trillion in 2020 responding to the pandemic when Democrats took the reins and passed the $1.9 trillion American Rescue Plan in March 2021. This was done despite warnings from economists including former Obama officials who feared more big…
CONTINUE READINGSupply Chain Variables Cloud the Future
The Ocean Shipping Reform Act of 2022 (OSRA22, S. 3580) signed on June 16 by President Joe Biden is a major step toward fixing supply chain problems that involve ocean carrier practices. An immediate benefit for trucking firms and shippers is that OSRA now requires 13 specific items of information on carriers’ invoices and failure to include such information relieves the need…
CONTINUE READINGAre $20,000 Spot Rates a Thing of the Past?
The worsening state of the global economy is starting to negatively impact the record high ocean spot rates that have overwhelmed shippers the last two years. Everyone involved in international shipping, including the ocean carriers, knew that the record high spot rates were not sustainable over a long period of time. The softening demand by consumers has some carriers…
CONTINUE READINGU.S. Retail Intelligence – July
July 30 – Shopify Reports $1.2B Net Loss, Lays Off 10% of its Workforce The company’s e-commerce gamble “didn’t pay off,” CEO Tobi Lütke said, and it expects operating losses through the rest of the year. From: Retail Dive July 29 – Amazon Posts Q2 Loss Against Earnings Expectations Amazon fell short of second-quarter expectations as it continued working to cut costs and…
CONTINUE READINGThe Four Big Challenges of Exporting Successfully: Explained and Answered
By Thomas A. Cook, Managing Director, Blue Tiger International Part 2 of a 4-Part Series While there are numerous challenges that companies in the housewares business vertical face, there are four that dominate the export process. Manage these successfully and you’ll reduce export headaches and maximize the profitability and long-term sustainability of your export…
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