Sourcerer Cloud Analysis
Sourcerer AI has processed more than 800 recent news articles and summarized the most relevant articles for your business below.
Freight spend, shipments soft again in August
August data from shows the freight remains in a downturn, with shipments falling 1.9% year-over-year, but slightly ahead of projected declines. Freight expenditures were down 9% y/y, marking the smallest drop since early 2023, while inferred freight rates hit a new cycle low, partially due to a 3% decline in diesel prices. Overcapacity continues to pressure the market, and contract rates have yet to see significant upward movement
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USTR issues Section 301 Tariffs
The U.S. Trade Representative (USTR) has finalized critical modifications to tariffs on Chinese imports under the Section 301 investigation. These changes follow a four-year review of China’s unfair trade practices, including forced technology transfers, intellectual property violations, and cyber theft. Several of these tariffs are effective immediately as of September 27, 2024, with more increases scheduled in the coming years.
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New US shipping rules target China's Shein and Temu
The US has proposed new rules to remove tariff exemptions for low-value shipments from China, targeting platforms like Shein and Temu that benefit from the $800 "de minimis" threshold. The move aims to reduce exploitation of the rule, which has led to a surge in packages and competitive pricing challenges for US businesses. This could increase costs for consumers and force changes to direct-to-consumer shipping models.
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EU plans Sept 25 vote on raising tariffs on EVs from China
The European Union plans to vote on imposing tariffs of up to 35.3% on electric vehicles imported from China by September 25, on top of the current 10% import duty. Offers from Chinese EV makers for minimum import prices were rejected by the EU as a way to avoid these tariffs. If approved by a qualified majority of EU members, the tariffs will be implemented by the end of October.
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