With a chaotic shipping climate, complaints against increasing demurrage/detention charges, California port congestion, global trade fallout, higher-margin cargo soaking up air freight capacity, and COVID-19 updates, it’s no wonder logistics professionals are overwhelmed. And for those who aren’t in the loop, here’s the latest on Section 301 tariffs:
The Office of the United States Trade Representative issued the following statement late last Friday stating that the United States and the European Union had agreed to a four-month suspension of the Section 301 tariffs applicable to certain products of the European Union imposed as part of the ongoing civilian aircraft dispute: Read More Here.
The effective date of the suspension will be published under separate cover “as soon as the internal procedures on both sides are completed.”
In a related matter, the following USTR notice is scheduled for publication in the Federal Register regarding the four-month suspension of the U.S.-U.K. Section 301 tariffs stemming from the same civilian aircraft dispute. As stated in this notice, the effective date of the suspension is March 4, 2021 and, for now, will last until July 4, 2021: Read More Here.
For more international shipping updates like this, check out the following article highlights:
