Dear Valued Customer, Originally set to take place on April 21, 2018 if an agreement was not reached between CP Railway and its labor unions, strike has been avoided without any disruption in commuter or freight service. This action followed the Canadian labor minister's order for CP Railway employees to administer a ratification vote on each of the two offers by the company. The unions say if the offers are rejected in a vote by its members, they will be free to strike. Therefore, the possibility of strike still looms without any resolution at this time. OEC Group is closely monitoring the situation as it continues to develop. Should you have any questions regarding this update, please contact your sales representative. Sincerely yours, OEC Group The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com
Update: Generalized System of Preferences (GSP) Renewal Dear Valued Customer, The renewal of the Generalized System of Preferences (GSP) will go into effect April 22, 2018. Customs Border Protection (CBP) will begin issuing GSP refunds on qualified goods shortly after the effective date, but will not offer any interest payments. Refund requests must be submitted to your broker prior to September 19, 2018. Duty payments will terminate on April 22nd, but until then, importers should continue to flag GSP-eligible importations as Special Program Indicator (SPI) "A" and expect to pay normal duty rates. Entry summaries submitted during the lapse period with a special program indicator "A" will be eligible for refund. Entry summaries submitted by importers during the lapse period wherein a special program indicator "A" was not transmitted are still eligible to submit a refund request, known as a post-importation GSP claim. According to CBP; letters, Post Summary Corrections (PSC) or Protests are all acceptable ways to submit duty refund requests. Should you have any questions regarding this update, please contact your brokerage representative at OEC Group. Sincerely yours, OEC Group The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com
Dear Valued Customer, Effective May 1, 2018 General Rate Increase (GRI) has been filed for all cargo imported from Asia ports of loading, to U.S.A., Canada, and Mexico ports/ramps of discharge. The proposed increases are as follows: General Rate Increase - May 1, 2018 USD 900 / 20' USD 1000 / 40' USD 1125 / 40' HQ USD 1125 / 40' Reefer USD 1266 / 45' USD 18 / LCL As it is not possible to predict the future market based on the current trade conditions, OEC Group will continue to monitor the situation as it develops. Should you have any questions regarding this update, please contact your Sales or Customer Service representative. Sincerely yours, OEC Group The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com
Dear Valued Customer, Last Friday, Canadian Pacific Railway (CP) conductors and locomotive engineers voted to authorize a strike action, and CP has announced that its services may be interrupted as early as April 21, 2018 due to this labor unrest. Among other conditions for an amicable collective agreement, CP employees are demanding more predictable work schedules to combat job-related fatigue and are opposing any further cuts and concessions requested by CP. Should a conclusion not be reached by the April 21 deadline, 3,000 CP workers are planning to walk off the job. In the event of a strike, container traffic through Vancouver will be seriously affected as the strike will only exacerbate the current port congestion there. We also anticipate the shipments through Prince Rupert, though not directly impacted as rail service in Prince Rupert is by Canadian National Railway (CN), will also experience some delays. OEC Group is closely monitoring the situation as it continues to develop. For more information on this topic, please follow the below link: http://www.farrow.com/news-20180409-cp-union-members-authorize-strike Should you have any questions regarding this update, please contact your sales representative. Sincerely yours, OEC Group
Dear Valued Customer, Following the recent release by the United States Trade Representatives indicating a "possible" 25% additional tariff on selected products imported from China, OEC Group is assessing the potential impact this may have on your future shipments. Please be advised that this is a "proposed determination of action" published by USTR that is subject to change through bilateral dialogues. Therefore, the situation is fluid at the moment. With so many geopolitical factors affecting the outcome of negotiations between the USA and China, there is no way of knowing which items, if any at all, will ultimately be applicable to this measure. The USTR proposed list covers 1,300 tariff numbers including but not limited to the following affected products: 29 - Chemicals30 - Medicines40 - Some rubber, tires & conveyor belts72 - Iron / non alloy steel73 - Alloy steel76 - Aluminum84 - Machinery and mechanical appliances, including machinery used in manufacturing textiles and apparel85 - Electrical machinery, television image and sound recorders and reproducers86 - Railway / tramway87 - Motor vehicles88 - Planes and helicopters89 - Boats90 - Glass and microscopes93 - Guns94 - Seats for aircraft, part of seats for motor vehiclesPlease see the original publication by The Office of The United States Trade Representative via below link: https://ustr.gov/sites/default/files/files/Press/Releases/301FRN.pdf OEC Group is committed to keeping our customers informed on current market conditions and will continue to monitor the situation as it develops. Should you have any questions regarding this update, please contact your customs house brokerage representative. Sincerely yours, OEC Group The information contained herein is provided as a public service with the understanding that OEC Group makes no warranties, either expressed or implied, concerning the accuracy, completeness, reliability, and suitability of the information. Nor does OEC Group warrant that the use of this information is free of any claims of copyright infringement. http://www.oecgroup.com
