The renewable fuel industry in Canada is encountering hurdles as a surge in U.S. imports impacts the market, particularly affecting British Columbia’s low carbon fuel standard (LCFS) credit market. This trend has led to reduced profitability for new renewable diesel projects in the country, stirring concerns among industry players. Let’s delve deeper into the implications…
In light of looming U.S. tariffs, lighting giant Signify is contemplating moving portions of its production out of China. The CEO, Eric Rondolat, revealed that the company is exploring alternative production sites in India, Indonesia, and considering adjustments to its operations in Mexico. The prospect of new tariffs, proposed by former U.S. President Donald Trump,…
In a bid to ensure adherence to the Export Administration Regulations (EAR), the Bureau of Industry and Security (BIS) has issued a comprehensive set of guidelines designed to steer financial institutions (FIs) towards best practices. The EAR, under the auspices of the U.S. Department of Commerce, govern the export, reexport, and in-country transfer of dual-use…
Strategies for Cost Management in Automotive Manufacturing Duties and Import Management Explore essential strategies for managing costs in automotive manufacturing through effective duties and import management. This article delves into key approaches and best practices to optimize financial efficiency and compliance within the automotive industry, providing valuable insights for manufacturers seeking to streamline operations and…
The U.S. Customs and Border Protection (CBP) is intensifying its efforts to combat the importation of goods produced with forced labor by leveraging isotopic testing. This initiative is backed by regulations such as 19 USC 1307, which prohibits the entry of goods made wholly or in part through coercive labor practices. Notably, the Uyghur Forced…
The CBSA Assessment and Revenue Management (CARM) system is a transformative initiative that aims to modernize and streamline the process of importing commercial goods into Canada. By implementing CARM, the Canada Border Services Agency (CBSA) intends to introduce significant changes that will redefine how duties and taxes on imported goods are managed and paid. Let’s…
In response to evolving trade dynamics, China’s exporters are undertaking strategic measures to navigate uncertainty and potential changes in global trade policies. The ongoing trade tensions between the US and China have prompted a reevaluation of supply chain strategies and manufacturing operations. The imposition of tariffs on Chinese goods has led many exporters to explore…
A Game-Changer in South America-Asia Trade Routes Peru’s Chancay port, built by Chinese companies and set to be inaugurated in mid-November, is poised to become a vital link in South America-Asia trade. Cosco Shipping, the port operator, plans to commence a soft launch in late November, initially facilitating two container ships per week on a…
The U.S. Commerce Department made headlines recently by including three Chinese companies in a list of firms to receive U.S. exports that officials have been unable to inspect. This designation places these companies on the ‘Unverified List,’ which signifies that U.S. export control officers have not been able to conduct on-site visits to ascertain whether…
The recent decision by the United Kingdom to impose sanctions on Russian oil and liquefied natural gas (LNG) vessels marks a significant development in the realm of international trade dynamics. These actions underscore the escalating tensions between Western nations and Russia, particularly in the energy sector. By targeting 18 Russian oil tankers and four LNG…
The latest report from the Labor Department reveals that U.S. import prices experienced the most substantial decline in nine months in September 2024. The primary driver behind this significant drop was the sharp decrease in the cost of energy products. This development has several implications for trade dynamics and inflation outlook, affecting various sectors and…
Port of Montreal Longshoremen Union Takes Stand Against Overtime Here are the new recent developments at the Port of Montreal, where the union representing 1200 longshoremen announced a refusal to work overtime starting on October 10th. The decision aims to increase pressure on maritime employers during stalled negotiations, following a partial strike that disrupted operations…
