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Effects of U.S.-China Trade War: ‘The Proof’s In The Ports’

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U.S. trade with the world is up a sliver this year, 0.47%, down from a slice just a couple months ago. According to the latest U.S. Census Bureau data, five of the nation’s top 10 ports — five are seaports (with as asterisk), three airports and two border crossings — are showing trade increases, five are showing decreases. As you ... Read More »

This is the latest sign that Trump could be easing up on the United States trade ban with Huawei

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WASHINGTON (Reuters) – The U.S. may approve licenses for companies to re-start new sales to Huawei in as little as two weeks, according to a senior U.S. official, in a sign President Donald Trump’s recent effort to ease restrictions on the Chinese company could move forward quickly. Huawei, the world’s largest telecommunications equipment maker, was added to a Commerce Department ... Read More »

China says US trade issues are ‘definitely’ resolvable

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China said on Thursday that the thorny trade issues plaguing relations with the United States are resolvable after fractious talks between the economic giants were kickstarted by the Trump-Xi meeting in Japan. Washington and Beijing have hit each other with punitive tariffs covering more than $360 billion in two-way trade, damaging manufacturers on both sides of the Pacific. US President ... Read More »

U.S. Customs have seized cargo ship with $1 billion worth of cocaine on board

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PHILADELPHIA U.S. Customs authorities have seized a cargo ship where agents discovered nearly 40,000 pounds, or almost 18,000 kilograms, of cocaine when the vessel arrived in Philadelphia last month. The cocaine was said to have a street value of over 1 billion dollars. U.S. Attorney William McSwain says Customs and Border Protection officials obtained a warrant Thursday and seized the ... Read More »

US announces anti-subsidy duties on steel from Mexico and China

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Please use the sharing tools found via the share button at the top or side of articles. Copying articles to share with others is a breach of FT.com T&Cs and Copyright Policy. Email licensing@ft.com to buy additional rights. Subscribers may share up to 10 or 20 articles per month using the gift article service. More information can be found at ... Read More »

Change in leadership for U.S. Customs and Border Protection

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Today marks the last day on the job for acting U.S. Customs and Border Protection Commissioner John Sanders. Sanders announced in June that he would be stepping down without giving an exact reason for his resignation. Acting Immigration and Customs Enforcement Director Mark Morgan is expected to replace Sanders. Morgan has been an advocate in the past for President Donald ... Read More »

Rat meat seized by US customs agents at O’Hare Airport

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CHICAGO — Officials say U.S. Customs and Border Protection agents at Chicago’s O’Hare International Airport thwarted a man’s attempt to import dozens of pounds of African rat meat. Customs spokesman Steve Bansbach said Tuesday that the man declared the 32 pounds of meat on June 26 when his flight arrived from the Ivory Coast. The meat was confiscated and destroyed. ... Read More »

Even after Huawei’s US ban lifts, its network business will still suffer from a lack of trust

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US-based companies will be allowed to resume business with Chinese networking company Huawei, following an apparent reversal from US President Donald Trump, according to Business Insider. The lifting of the Huawei ban in the US — handed down by the US Department of Commerce in May — was reportedly the result of ongoing discussions at the G20 summit in Japan, ... Read More »

US-China trade truce seen likely to boost bilateral crude, agriculture trade flows

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The US and China agreed Saturday to resume trade negotiations, with the US agreeing to halt further tariff hikes on Chinese goods and China agreeing to immediately start increasing purchases of American goods. The developments on the sidelines of the G20 summit in Osaka, Japan, are positive for the recovery of commodity trade flows between the two countries, which had ... Read More »

Ancient Egyptian mummy linens seized by U.S. officials at U.S.-Canada border

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At the U.S.-Canada border, ancient Egyptian mummy linens were found in a mail truck coming from Canada that was seized by U.S. border officials, according to an official statement by American authorities. The U.S. Customs and Border Protection revealed on Wednesday, June 26 that the linens were spotted in a package of five jars containing ancient Egyptian artifacts. Furthermore, authorities ... Read More »

Expect US to fight back as Russia & China lead BRICS away from dollar trade

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While Russia and China’s push to reduce the role of the US dollar in trade is catching on, don’t expect Washington to give up its global economic dominance without a fight, political expert Jack Rasmus, told RT. The two countries’ presidents, Vladimir Putin and Xi Jinping, recently announced their intention to expand the use of their national currencies –the ruble ... Read More »

Russia & China agree to significantly boost trade in ruble and yuan at the expense of the US dollar

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Moscow and Beijing have inked an intergovernmental agreement to switch to national currencies in bilateral trade and boost cross-currency settlements up to 50 percent as they ramp up efforts to move away from the US dollar. The document was signed by Russian Finance Minister Anton Siluanov and the head of the People’s Bank of China, Yi Gang, earlier in June, ... Read More »

China defies US sanctions by tapping Iran oil supplies

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China is buying Iranian oil in defiance of US sanctions and providing what Tehran hopes will be a financial lifeline for the country’s buckling economy. Although Beijing customs data show crude purchases from Iran are down month-on-month, China is still importing Tehran’s oil despite US measures designed to cut exports to “zero”. Last week the Chinese received their first delivery ... Read More »

US journalist describes being interrogated by US Customs at airport

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When Rolling Stone contributing editor Seth Harp flew home from Mexico, Customs officials at the Austin airport detained him for secondary screening. He was told that he had to comply with a thorough search of his phone and laptop or he wouldn’t be allowed to enter the US. In retrospect, I was naive about the kind of agency CBP has ... Read More »

US companies hunt for loopholes to beat China tariffs

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US companies are turning to their lawyers for help in containing the costs of President Donald Trump’s tariffs on goods from China, looking for legal loopholes to help avoid or reduce duties without shifting production to other countries. Law firms and consultants say they are being inundated with requests for assistance from importers seeking to use provisions such as the ... Read More »

Apple warns Trump that more China tariffs will help rivals

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Apple has joined a growing chorus of firms urging the Trump administration to drop a plan for more US tariffs on Chinese goods. The US has said it may impose duties on $300bn (£236.1bn) worth of Chinese products if the two sides can’t reach a trade deal. In a letter, Apple “urged” the White House to drop the tariff plan. ... Read More »

U.S. Customs and Border Protection Data Breach Result of Supply Chain Attack

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The U.S. Customs and Border Protection agency, the one centrally responsible for securing the country’s borders, was the latest high-profile organization to fall victim to a supply chain attack. The breach exposed data on somewhere around 100,000 people who crossed the United States border at a specific port of entry. – Advertisement – OneTrust – CCPA Benchmarking U.S. Customs and ... Read More »

Who pays Trump’s tariffs, China or U.S. customers and companies?

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U.S. President Donald Trump says China pays the tariffs he has imposed on $250 billion of Chinese exports to the United States. But that is not how tariffs work. China’s government and companies in China do not pay U.S. tariffs directly. Tariffs are a tax on imports and are paid by U.S.-registered firms to U.S. customs when goods enter the ... Read More »

Fact-Checking Trump’s Orlando Rally: Russia, the Wall and Tax Cuts

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President Trump delivered remarks in Florida in a formal start to his re-election effort. President Trump officially began his campaign for re-election on Tuesday at a rally in Orlando, Fla., touching on themes and promoting accomplishments that are likely to be staples of his appearances from now until Election Day. Here’s a fact-check of his remarks. Russia “Nobody’s been tougher ... Read More »

Trade War Creates Chaos for US Ports

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The ongoing trade war between China and the US is causing severe disruption and “logistical havoc” for trans-Pacific ports in Los Angeles and Long Beach, according to The Washington Times. PTI recently reported on how major growth at China’s busiest ports could be negatively affected by the persistence of a conflict, but these tensions are also impacting ports in the ... Read More »