You may all have heard it through the grapevines, China is starting lockdowns again. Shenzhen is in complete lockdown while other cities like Shanghai and Qingdao are increasing safety measurements. Terminals at present are open but with factories closing, as reported in the media – the Hang seng takes a dive today dropping 1K points .
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CBP provided an update regarding Exception to the Reciprocal Tariffs for shipments that loaded on vessel prior to April 5th 12:01am EDT and are in transit. The update states that the exemption will only apply to these shipments if the shipment is arriving AND released BEFORE May 27th, 2025 12:01 EDT.
Read MoreToday is "Liberation Day" AKA the day all the tariffs go into effect, even though it's a Wednesday, it is an appropriate day for a market update: Attached is the current tariff announcement in terms of amount by country - any country not mentioned is now a 10% increase, but it is an ever-changing landscape, and we don't have information yet on tariff stacking which is the real question for China and a few others
Read MoreMarch 23 and April 1 increases: For most of March, vessels have not been full and import demand/volume has not been strong for various reasons. Not the least of these are the tariff implications, and I'm sure everyone has heard plenty about them at this point.
Read MoreJoin us at NCBFAA Annual Conference 2025 April 6-9
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