A fresh tariff threat; calls for reshoring; a modernized U.S.-Mexico-Canada trade pact; borders opening for crew changes; rising container availability; the EU diversifying supply chains; and a 2020 state of ocean cargo report all caused some major waves this week. Short on time? Check out our summary of the latest industry news:
Week 29 Freight Updates
July 17th, 2020
Fresh tariff threat could put pressure on westbound trans-Atlantic (Subscription Required)
Some U.S. importers are already trying to get ahead of a potential escalation in tariffs on EU goods by front-loading cargo.
The 5 Ws of reshoring supply chains
The decision to reshore is a balance between price and risk and a trend that started long before the coronavirus pandemic. The calls are loud from industries, associations and the public sector: Bring supply chains home.
New North American trade deal launches under cloud of disputes, coronavirus
A modernized U.S.-Mexico-Canada trade pact took effect recently, ensuring continuity for manufacturers and agriculture, but the threat of disputes is exposing cracks in what was meant to be a stronger North American fortress of competitiveness.
Big Seafaring Nations Agree to Open Borders for Crew Changes
Thirteen countries commit to repatriate hundreds of thousands of mariners stranded by coronavirus-triggered travel restrictions. Several nations have agreed to ease border restrictions to allow for the repatriation of hundreds of thousands of sailors who have been stranded for months as a result of coronavirus-related lockdowns.
Container Availability on the rise: The Wheels are Spinning Again
Containers are moving again, but not quite on a pre-COVID-19 level. That can be seen on the container availability with higher levels of equipment availability across European ports.
EU to Focus on Diversifying Crucial Supply Chains
The European Union will seek to diversify its supply chains to cut reliance on other nations for crucial assets such as medicines, even as it works to strengthen trade ties with India, the bloc’s top diplomat said. To find out more information.
2020 State of Logistics: Ocean Cargo
Container shipping lines’ ability to provide cargo space as needed showed a marginal improvement at the start of 2020, but this gain will have been dramatically reversed by the end of the first half of this year, according to the fourth annual shipper satisfaction survey of Drewry and the European Shippers’ Council (ESC).