U.S. Customs and Border Protection (CBP) participated with the Advisory Committee on Commercial Operations (COAC) on May 22. The meeting discussed the importance of expanding public private partnerships and modernizing trade processes. Business transformation includes: Automation, mobile technology, and trusted trader and traveler program. FOR IMPORTERS: Based on the … [Read more...]
Census Bureau: Deficit Increases in April
For April, the Nation’s international trade deficit increased $3.2 billion from March. Imports increased more than exports. Imports increased $5.4 billion contributing was $3.0 billion increase in consumer goods and $1.3 billion increase in automotive vehicles, parts, and engines. Exports increased $2.2 billion over March primarily due to record high exports in consumer … [Read more...]
IATA upgraded global outlook for the airline industry
The International Air Transport Association (IATA) upgraded the global outlook for the airline industry. They anticipate a $12.7 billion profit in 2013 and is $2.1 billion better profit than projected in March of this year and an improvement on the $7.6 billion profit generated in 2012. Though margins remain weak, the net profit margin is expected to be 1.8%. Even with this … [Read more...]
Customs Seize Critical Counterfeit Electronic Components
U. S. Customs & Border Protection (CBP) working with French Customs seized 480 shipments of potentially harmful counterfeit electronic components between Nov. 1, 2012 to April 30. This was a bilateral intellectual property rights enforcement operation that targeted counterfeit critical computer and other electronic equipment. Some this components included: semiconductors, … [Read more...]
Air Freight Shows Modest Growth for April 2013
IATA (International Air Transport Association) released the information for April air freight. April showed modest growth of 1.4% compared to April 2012. This small improvement may be an indication that economic conditions may be starting to improve. This small increase helped to offset the 2.6% decline recorded in March compared to the year-ago period. And it continues an … [Read more...]