USPTI Market and Trade Update July 2018
Dear Valued Client;
To date this year, we have seen rising fuel prices, new environmental regulations, tighter intermodal capacity, trucker shortages, occasional labor issues, etc. These factors have created a chaotic environment in world trade and specifically in the Trans-Pacific trade.
Additionally the growing uncertainty regarding Sino-US trade relations has added to the complexity to trading conditions. An additional 200 billion dollar tariff increase was announced by USTR on July 11,2018 regarding an additional 10% duty increase. The most recent announced increase list will covers general merchandise including but not limited to food products, stationary, household goods, building materials, fabric goods, refrigerators and furniture.etc….. Please note the below link for full details
In addition to the 7/11 announcement the link below includes the full details of of the initial list 1 and 2 tariff increases
In addition to above issues impacting our businesses, once again merger Rumors and discussions are surfacing. Carriers are removing entire vessel strings as well as reducing the number of veseels on other strings.
All the above combined will artificially adjust supply and demand. USPTI anticipates space and service to be at a premium during the historical peak season. We request that if possible you provide a monthly forecast so that we can secure the space and services required. Furthermore we would request that book your cargo at a minimum 14 days prior to departure.
USPTI is confident that with open communication between our companies, USPTI can provide you with efficient and reliable services.
Thank you for your past support and we look forward to a long term relationship of service.
Please contact your USPTI representative with any questions or if you require further details.