AMAZON AIR LAUNCHES FIRST EUROPEAN HUB
Amazon Air has launched its first regional air hub in Europe. The new facility is at Leipzig/Halle Airport in central Germany. The airport connects to the trans-European motorway and railway networks. This enables trucks to reach 15 European countries within eight hours. Packages from Amazon fulfillment centers in Europe will be processed through the 20,000 square meter facility. The e-commerce giant has leased two Boeing 737-800 and contracted with ASL Airlines to fly them. For more information, please see FreightWaves.
CHINA AND 14 OTHER ASIA-PACIFIC NATIONS TO SIGN TRADE DEAL
China and 14 Asia-Pacific nations are set to sign the world’s largest free trade deal at the end of this week’s ASEAN summit. The Regional Comprehensive Economic Partnership (RCEP) includes countries stretching from Japan to Australia and New Zealand. India withdrew from participation in the deal last year. RCEP’s aims are to reduce tariffs, strengthen supply chains with common rules of origin and new e-commerce rules. The deal may disadvantage some US companies and other multinationals outside the zone. For more information, please see Bloomberg.
EU IMPOSES TARIFFS ON $4 BILLION US GOODS
The EU is imposing tariffs on $4 billion (£3 billion) of US goods in retaliation for US subsidies on Boeing. Last month, the World Trade Organization approved the levies that took effect this Tuesday. The EU announced that it will apply border taxes of 25 percent to items including tractors, orange juice and ketchup. US aircraft imported into Europe will face tariffs of 15 percent. EU Trade Commissioner Valdis Dombrovskis said the EU wanted to see the removal of tariffs on both sides. However, according to Mr. Dombrovskis, there has been no progress towards a settlement. For more details, please see BBC News.
US IMPORTS STRONG IN OCTOBER
According to data released by global trade intelligence firm Panjiva, US-bound imports were strong in October. Total imports in October were up by 16.3 percent annually, after a 15.2 percent annual gain in September. Containerized freight shipments increased to a new record of 16.8 percent, following a 11.2 percent September gain. Coronavirus-related healthcare saw a 47.4 percent increase in October. Furthermore, consumer staples imports grew 33 percent annually. For more details, please see Logistics Management.
EU-UK TRADE TALKS TO EXCEED MID-NOVEMBER DEADLINE
On Wednesday, Irish Foreign Minister Simon Coveney said that EU-UK trade negotiations are likely to run into next week, missing a mid-November deadline. According to EU sources, negotiators are likely to come up with an agreed text in the middle of next week, unless talks collapse or there is a breakthrough earlier. All 27 national EU leaders must accept any agreement. EU leaders are due to meet in a video conference on November 19. The European Parliament, which will ratify the deal, has said that time is running out. It expects ratification to take place on December 16, if lawmakers receive a treaty by November 16. For more information, please see Reuters.
DHL PREPARES FOR RECORD E-COMMERCE PEAK SEASON
DHL is preparing for what is likely to be the strongest peak season on record. Craig Morris, Chief Information Officer at DHL eCommerce Solutions Americas, has said that the division has experienced 50 percent year-on-year growth in volumes. He stated that this is forecast to increase again, by over 50 percent during peak. In preparation for this year’s peak, DHL decided not to accept any shipper customers in August, something that is typically done in October. President of eCommerce for DHL Supply Chain North America, Kraig Foreman, said the majority of shippers and retailers have arranged peak season capacity. However, this could come under threat if demand increases further. For more details, please see The Loadstar.
GLOBAL TRADE AND THE IMPORTANCE OF TRADE COMPLIANCE FOR LIFE SCIENCES COMPANIES
Life sciences companies have complex supply chains. They manufacture and distribute products that may include biological matter, scheduled medicines and hazardous material. As a result, the life sciences industry is, with good reason, heavily regulated.
Furthermore, life sciences enterprises that distribute their products globally often need to work within a number of different regulatory environments. This can make compliance a challenge. In this Precision Report we look at trade compliance for life sciences companies. To read the full report, please click here.
[LIVE WEBINAR: TUESDAY, 24 NOVEMBER 2020] SIMPLIFYING POST BREXIT TRADE: 5 THINGS TO CONSIDER
Given the ongoing uncertainty and fluidity of the UK’s global trade situation post-Brexit, corporate leaders are understandably concerned about their ability to manage their supply chains. Even in the event of a deal, shippers will need to comply with a number of different customs requirements.
Please join Precision on Tuesday, 24 November 2020 at 2pm GMT (9am EST) for a 30-minute webinar where industry experts will look at the processes necessary to simplify post-Brexit global trade and shipping, including:
- Simplifying Classification
- Export Compliance
- FTA Compliance
- Documentation & Paperless Shipping
To register, please click here.