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Port Strike, iPhone16 Circumvents Export Ban, Tariff Increase

Potential Port Strike Threatens Supply Chain Disruptions in the US

A potential strike by dockworkers at ports on the US East Coast and Gulf of Mexico on Oct 1 has the shipping industry preparing for significant supply chain disruptions, according to a senior executive at French container carrier CMA CGM. The International Longshoremen’s Association union, with 45,000 workers at 36 ports, has threatened to strike if a new labor agreement is not reached before the contract expires on Sept 30. The strike could cause severe congestion at ports, impacting about half of US imports and resulting in delays for goods from Europe and India. Ports on the West Coast are already experiencing increased imports as a contingency measure, with record-breaking volume increases reported at the Port of Long Beach and Port of Los Angeles. The potential strike highlights the fragility of global supply chains and the domino effect of disruptions in one region affecting trade and industry on a larger scale.

Highlights:

  • A strike by dockworkers on the US East Coast and Gulf of Mexico is imminent on Oct 1.
  • The strike could disrupt the flow of goods, impacting about half of US imports.
  • Port congestion may cause delays for goods from Europe and other countries.
  • Ports on the West Coast are already experiencing increased imports as a contingency measure.

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Apple’s New iPhone 16 Circumvents Export Ban, Enters Russian Market at Higher Prices

Russian retailers are skirting Apple’s export ban by launching pre-sales of the new iPhone 16, allowing consumers to pre-order devices at significantly higher prices than in the United States. Despite Apple halting all product sales in Russia in response to geopolitical tensions, leading electronics retailer MVideo-Eldorado and mobile network operator MTS have introduced the latest iPhone models to the Russian market. The new iPhones will be available for purchase in Russia through alternative routes due to the export ban, with consumers facing increased costs compared to those in the US. This move highlights the resilience of supply chains and the challenges faced by multinational corporations amid shifting geopolitics and trade restrictions.

Highlights:

  • Russian retailers launch pre-sales of Apple’s newest iPhone, circumventing the export ban.
  • Consumers in Russia will pay significantly higher prices for the iPhone 16 than those in the US.
  • Alternative routes through countries not imposing sanctions on Russia allow products to reach consumers.
  • The Kremlin aims to lessen dependence on Western goods by promoting domestic production amid geopolitical tensions.

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USTR Seeks Public Input on Proposed Tariff Increases for Chinese PolySilicon, Silicon Wafers, and Tungsten Products

The U.S. Trade Representative’s office is initiating a public comment period regarding proposed steep tariff increases on Chinese polysilicon, silicon wafers, and tungsten products. These tariffs were introduced as part of the Biden administration’s final determination on Section 301 tariffs affecting various Chinese imports, including electric vehicles, batteries, steel, semiconductors, and solar cells. Following public input, additional product categories have been identified for tariffs, such as 50% duties on polysilicon used in solar cells and silicon wafers for semiconductors and 25% duties on certain tungsten products. The comment period opens on Monday and closes on Oct 22.

Highlights:

  • U.S. Trade Representative to seek public comments on proposed tariff hikes for Chinese polysilicon, silicon wafers, and tungsten products.
  • Addition of tariffs on key Chinese imports like electric vehicles, batteries, steel, semiconductors, and solar cells part of final determination.
  • Proposed tariffs include 50% duties on polysilicon used in solar cells and silicon wafers for semiconductors.
  • Comment period begins on Monday and concludes on Oct 22 for stakeholders to provide input on the tariff increases.

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