IMPORT & EXPORT
By Deborah Belgum | May 26, 2016
The U.S. International Trade Commission recently published an independent study of the free-trade accord and found that U.S. apparel imports would inch up 1.4 percent with a $1.9 billion increase by the year 2032 while exports would barely budge, seeing a 0.3 percent rise, or a $10 million increase.
Last year, apparel and textile importers saw millions of dollars in profits sink as congestion at the West Coast ports kept merchandise stuck on boats for weeks.
Slow growth in consumer spending and high inventory levels at stores across the country are affecting import cargo volumes at the nation’s ports.
600 full-time port clerks and 300 temporary clerks at the Port of Los Angeles and the Port of Long Beach have made great strides in this year’s negotiations for a contract that expires June 30.
U.S. Trade Rep Hopes to Have New Free-Trade Agreement Signed, Sealed and Delivered Before Obama Leaves Office
The Obama administration has been talking about the Trans-Pacific Partnership trade agreement ever since the president arrived in office in 2009.
Customs officials said they saw a 25 percent increase in the number of counterfeit goods they confiscated last year at the nation’s ports and at the border.
After months of negotiations, China has agreed to put a stop to the export subsidies it has been granting for years to a host of industries, giving them an unfair advantage when competing with other companies around the world.
Jonathan Gold of the National Retail Federation has been appointed to a U.S. Department of Commerce committee to advise on supply-chain issues that affect the international competitiveness of the nation’s businesses.
In the whirlwind of election-year debates, some politicians have been taking a protectionist attitude and threatening to raise U.S. tariffs and erect trade barriers.
An elaborate scheme that involved bringing in Chinese-made apparel from Hong Kong through Los Angeles ports, allegedly destined for Mexico but ending up in the United States, will result in Hong Kong sharing some of the $20.5 million worth of forfeited assets collected during the investigation.
U.S. cargo-container imports for the first half of this year are expected to be nearly flat over last year as the economy inches along.
In 2010, JBlu Inc., a longtime Los Angeles clothing company, imported some 500,000 pairs of blue jeans from China in 11 shipments through the Port of Long Beach—all headed for retail stores around the country.
The U.S. dollar will remain strong until the middle of this year, hampering U.S. exports but boosting a wave of imports into U.S. ports.
China, with a population of 1.4 billion people, is a burgeoning consumer market where shoppers are hungry for American clothing labels.
Congress may not vote on the Trans-Pacific Partnership deal until sometime after the November presidential election.