Tariff Talk Thursday is Back!
Visit our Events page for details or register here.
Tariff Talk Thursday is Back!
Visit our Events page for details or register here.
NOVEMBER 1, 2024
The 2024 presidential election cycle is drawing to a close, with November 5 just around the corner. As we navigate this important time, it’s essential for every American to make their voice heard. We encourage everyone to get out and vote!
The early October ILA strike led to ongoing delays in U.S. ocean imports, with congestion at both East and West Coast ports and capacity challenges in Europe and South America. West Coast dwell times are at a two-year high, while air freight faces rising demand and rates, particularly on Asia-U.S. routes. Businesses should plan for potential rate increases and capacity limits as peak season continues.
OCEANAIR’s licensed customs brokers received an official continuing education mandate from CBP, requiring them to earn 20 continuing education (CE) credits by January 2027 to maintain their licenses. Although many brokers already pursue continuing education, this new requirement formalizes their participation in industry-related events, online courses, and conferences hosted by CBP and other trade organizations.
Starting November 12, CBP may reject ACAS filings with vague merchandise descriptions following the end of the warning period on November 11. To avoid delays, importers should collaborate with overseas suppliers to provide clear, specific invoice descriptions—such as “leather office chair” instead of just “chair”—to ensure CBP has sufficient detail to accurately understand shipment contents.
U.S. freight demand may be soft, but LTL carriers are defying a two-year freight decline and increasing contract pricing heading into 2025. Several large publicly owned carriers have reported third-quarter contract renewal rates rising by anywhere from low single- to high single-digit percentages.
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