Domestic imports logged a 7.2% month-on-month increase in January, much higher than expected based on figures from the past six years, according to U.S. Census data as analyzed by global logistics and supply chain firm Descartes, yet still lagged behind pre-pandemic levels by a small margin. The NRF near-term outlook was less rosy.
The Ocean Shipping Reform Act of 2022 is intended to promote U.S. exports and make ocean transport more competitive, efficient and economical. But a requirement that invoices list the date of container accessibility is proving to be a fly in the ointment. Bryn Heimbeck of Trade Tech Inc. explains efforts to address the inequity.
A China import law taking effect June 21 that bans imports from the Xinjiang region due to allegations of widespread forced labor will worsen supply chain and inventory issues just as conditions are easing somewhat, while exacerbating rampant inflation, according to a report in Bloomberg.
While the ripple effect of massive supply chain disruptions caused by the pandemic continues to affect imports and transit times across industries, a massive reshoring of production and distribution to North America is not likely, according to a recent report from The Economist’s intelligence unit.
Amazon has been quietly shipping ocean freight from China to West Coast ports, in another sign of its increasing logistics ambitions and an entire supply chain play, according to a report in USA Today. In the past year, Amazon Logistics has shipped 4.7 million cartons of consumer goods from China to Long Beach and Seattle.
As the deadline passed July 1, the two sides continuing talking to avert a west coast port strike.
A joint NRF/NAM study found a West Coast port strike could cost the U.S. economy up to $2.5 billion per day.