The government shutdown has created some unknown variables in the movement of international trade. We at Superior Freight Services are trying to obtain a full understanding of what the impact of the shutdown is on international trade. Currently, the following Government Agencies have been impacted by the shutdown according various sources: Commerce Department Bureau … [Read more...]
U.S. Dollar Index Lower, September FX rates
The Fed's decision last week to not begin tapering its bond-buying program has driven the U.S. Dollar index lower. The Brazil Real saw a 3.34% gain last week. Both the Euro and Australian dollar are at 7 month highs against the U.S. dollar. U.S. exports could see an upswing as U.S. made goods become more attractive to foreign buyers when the U.S. dollar is … [Read more...]
Chinese VAT Tax Confusion
Lack of clarity of the new Chinese VAT Tax implemented on August 1st, 2013 is causing mounting frustration for Shippers & Freight Forwarders. Since the laws are so vague, many carriers are interpreting them differently and billing VAT to shippers/forwarders based on their interpretation causing inconsistency with the carriers. In addition it is making it very difficult to … [Read more...]
Export Price Index edged down 0.5% in August
The Export Price Index edged down 0.5% in August according to the September 2013 Bureau of Labor Statistics report. Excluding Agricultural Products, the Export Price Index was only down 0.1%, this contributes to a 0.6% drop over the last 12 months for non-agricultural products. All Exports: Prices for U.S. exports continued to trend down in August, decreasing 0.5 percent. The … [Read more...]
About Foreign Trade Zones (FTZ)
Should your company consider FTZ?? What is a Foreign-Trade Zone? A FTZ is the U.S. Version of an International Free Trade Zone. Always located near a Port of Entry, an FTZ can be used to store foreign or domestic goods, re-package materials, assemble products, manufacture or re-export goods without paying Customs duties. Merchandise can be held indefinitely within an FTZ … [Read more...]