FINANCE
KlearNow Raises $50 Million to Alleviate Global Supply-Chain Constraints
By Tyler Shultz | December 27, 2021
KlearNow, a logistics-as-a-service company founded in 2018, announced it has raised $50 million in new funding to provide supply-chain solutions that simplify and provide real-time cargo visibility.
USMCA Takes Effect, Replaces NAFTA
As a replacement for the North American Free Trade Agreement, the United States-Mexico-Canada Agreement was implemented July 1.
Supply-Chain Executives Forecast How Technology Amid the Pandemic Can Transform Businesses
The COVID-19 pandemic turned the fashion business upside down and is putting supply chains through a giant stress test, said Neil Soni, vice president of business development and strategy for Omnichain, a Los Angeles–headquartered supply-chain company.
Certain Tariffs to Receive 90-Day Postponement Due to Pandemic
Importers faced with financial hardship due to the COVID-19 pandemic can request a 90-day deferment in payments on certain duties, taxes and fees, according to an executive order signed by President Trump on April 18.
March Volumes Decrease at Major California Ports, but Optimism Abounds
Due to a weak global-trade market resulting from the COVID-19 pandemic, loaded container volume declined from 2019 totals during March at the Port of Oakland.
Retail Trade Groups Say Dump Chinese Import Tariffs
On March 19, members of the retail industry’s leading trade groups joined in a letter asking President Trump to suspend U.S. tariffs in place on Chinese imports. The tariff suspension would serve as a tool to blunt the economic downturn from the coronavirus pandemic, they said.
Port of Oakland, Oakland International Airport, Deemed Essential and Will Remain Open
As regions of Northern California, including six Bay Area counties, prepared for shelter-in-place orders in response to COVID-19, the Port of Oakland announced on March 16 that it would remain open for business.
USMCA Approved by U.S. Senate, Phase One of China Deal Signed by Trump
In a fast-paced set of events, President Donald Trump signed Phase Oneof the trade agreement between the U.S. and the People’s Republic of China on Jan. 15. The next day, the U.S. Senate approved the United States–Mexico–Canada Agreement, a platform upon which Trump campaigned during 2016 as a replacement for the North American Free Trade Agreement.
USMCA Trade Deal Approved by Senate Committee
The U.S. Senate’s Finance Committee approved the United States–Mexico–Canada Agreement by a 25–3 vote on Jan. 7.
November Trade Deficit Figures Decrease by 5.4 Percent to Lowest Number Since 2017
This week, the United States Census Bureau released its “Advance Economic Indicators Report,” which showed a decrease in the international trade deficit. Numbers for international trade in goods recorded in October 2019 stood at $66.8 billion, while advanced figures fell to $63.2 billion in November, a drop of 5.4 percent.
U.S. Close To Making Trade Agreements After Year of Upheaval
After more than a year of headlines on trade wars, the Trump administration, the U.S. Congress and America’s trade partners wrapped up the year with statements and votes promising that trade deals are close.
Tariffs in 2019: As the Trade War Turns
One of the largest newsmakers of 2019 was neither a person nor a company but rather a largely impactful issue faced by the apparel industry. In a rocky 2018, the United States implemented 25 percent tariffs on $50 billion in imports from China, and the latter responded with its own reciprocal duties on products from the U.S.
AAFA Echoes Industry Sentiment in Letter to CBP Regarding Proposed Footwear Duty
Escalating current tariff and trade drama, the United States Department of Homeland Security’s Customs and Border Protection proposed a revocation of two previous rulings on the definition of athletic footwear, widening the range of these types of shoes, which will thereby increase costs for these products that were previously not subject to athletic-footwear duties.
Port of L.A. Working with Danish Port to Strengthen Sustainability
The Port of Los Angeles, ranked as the No. 1 container port in the United States, announced that it has entered into a five-year memorandum of understanding with the Copenhagen Malmö Port AB, which manages ports in Denmark and Sweden, to collaborate on sustainability and environmental issues.
Former Oakland City Councilmember Wan to Lead Port of Oakland
It was announced Nov. 14 that Danny Wan, a former Oakland, Calif., city councilman was named executive director of the Port of Oakland. He had been serving as the port’s interim executive director for the past year.
USTR to Consider Extension of Tariff Exclusions on $34 Billion of Chinese Imports
As the leaders of the United States and China continue to negotiate new trade terms and navigate through tariff increases implemented on imported goods, the office of the United States Trade Representative made an announcement on Oct. 28 regarding exclusions.
