In a significant move towards combating climate change, European Union lawmakers recently adopted a groundbreaking law that will impose methane emission limits on fossil fuel imports starting from 2030. Methane, a potent greenhouse gas and the main component of natural gas, is the second-largest contributor to climate change after carbon dioxide. This new regulation places…
How to Become a Freight Broker: Opportunities, Skills, and Licensing Requirements. The freight brokerage industry is set to grow significantly in the coming years, providing ample opportunities for aspiring freight brokers. With an expected 6% annual growth rate and a projected market size of $85.9 billion by 2032, the industry’s expansion is promising. Freight brokers…
China’s stance on U.S. trade barriers has been reaffirmed once again as it responds to the U.S. National Trade Estimate Report on Foreign Trade Barriers. Released on March 29, the report categorizes China as a “country of primary concern,” prompting a strong response from China’s commerce ministry. In a statement issued on Tuesday, the ministry…
Trade groups in the United Kingdom are sounding the alarm about potential increases in food prices following the government’s decision to impose post-Brexit charges on imports of EU food and plant products. The new fees, known as the common user charge, are set to apply to small imports of animal products and plants entering the…
In a recent development, lawmakers from both the Republican and Democratic parties have joined forces to call on the Biden administration to increase scrutiny and oversight of Chinese biotech firms. The lawmakers, Republican Michael Gallagher and Democrat Raja Krishnamoorthi, have sent a letter to Defense Secretary Lloyd Austin, urging him to add seven Chinese biotech…
Oil Prices Surge to 5-Month High Amidst OPEC Oil prices have surged to a near five-month high, reaching $85 per barrel for the first time since October. The rally in oil prices is attributed to a combination of factors, including production cuts by OPEC+, robust global demand, and heightened geopolitical risks. Tensions in the Middle…
As the dynamics of global trade compliance continue to evolve, U.S. imports from Asia are undergoing a significant transformation, presenting new challenges and opportunities for the supply chain. In a recent study conducted by Oliver Wyman, it was found that a noticeable shift in imports from the West Coast to the East Coast is taking…
The recent collapse of the Francis Scott Key Baltimore Bridge has sent shockwaves through the transportation and logistics industry, raising concerns about the potential economic impact and highlighting the need for greater supply chain resilience. This catastrophic event has not only resulted in loss of life but has also disrupted the Port of Baltimore, one…
The United States has recently imposed sanctions on a Chinese cyberespionage firm for allegedly hacking into the US energy industry. This action is part of broader efforts to address cybersecurity threats and safeguard national security. This blog post will focus on the trade aspects of the article, exploring the potential impact on global trade relations…
US Lawmakers Push for Tariff Hike on Chinese-Made Drones A group of bipartisan lawmakers in the US has asked the Biden administration for a tariff increase on Chinese-made drones, including those shipped from other countries, to counter national and economic security threats. The lawmakers specifically targeted drone makers like DJI and Autel and asked for…
The Customs Broker Continuing Education program aims to ensure that licensed customs brokers stay updated on developing customs regulations and U.S. trade laws. This program, governed by the Continuing Education for Licensed Customs Brokers Final Rule, mandates the completion of 36 continuing education credit hours during each triennial status period. However, for the initial 2024-2027…
As the automotive industry continues to evolve, the rise of Chinese carmakers and their expansion into international markets is becoming increasingly evident. In a recent report by Automotive Logistics, it is clear that China is targeting Europe for electric vehicle (EV) sales, leveraging the recovery of roll-on/roll-off (ro-ro) capacity and navigating geopolitical disruptions. European ports…
