What We're Reading: Trendwatch Week 11

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Your weekly update on the latest trends and news from the supply chain world. 

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Parliament rejects Brexit proposal, business uncertainty lingers 

March 12, 2019 - Parliament has rejected Prime Minister Theresa May's Brexit proposal with a vote of 391 to 242. The legislative body will reconvene tomorrow to vote on whether it wants to break away from the EU without a plan. "I profoundly regret the decision that this House has taken tonight," May said after today's vote. 
Source: Supply Chain Dive 
 

Lighthizer says US wants to keep tariff threat in China talks 

March 12, 2019 - President Donald Trump’s top trade negotiator said the administration needs to keep the option of raising tariffs on Chinese imports as a way to ensure Beijing lives up to any trade agreement. “We have to maintain the right to be able to raise tariffs in situations where there are violations of the agreement,” U.S. Trade Representative Robert Lighthizer said Tuesday in testimony before the Senate Finance Committee. 
Source: Bloomberg 

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Industry Insights

What is the Generalized System of Preference?

March 12, 2019 - In recent Brexit discussions, we've heard a great deal about Generalized System of Preference, or GSP. But what is it exactly and what does it mean for your business? Michael Ford, Vice President of Government and Industry Affairs, reviews the GSP and how businesses can use it to take advantage of cost savings.

Read more

A bumpy ride for air cargo on the radar as global slowdown takes its toll

March 12, 2019 - IATA has downgraded its projected growth figures for air cargo by nearly half, following a poor start to the year. The association now predicts growth of just 2% for 2019, down from 3.7%, while others are even more pessimistic.

Source: The Loadstar

 
Imports drop to annual lows with tariff hike on hold 

March 11, 2019 - U.S. ports this month are expected to see their lowest import numbers since about a year ago, as trade hits its annual slowdown between peak seasons and the tariff hike is on hold, according to the National Retail Federation and Hackett Associates.
Source: Supply Chain Dive 
 

Aerospace pact lowers fees on U.S. companies and opens European access to U.S. Markets

March 8, 2019 - During a meeting between the co-chairs of the Bilateral Oversight Board (BOB) at the Federal Aviation Administration’s (FAA) Headquarters in Washington, D.C., the officials with the FAA and the European Union (EU) signed two decisions associated with the Airworthiness Annex of the U.S./EU Safety Agreement.

Source: American Journal of Transportation 

 

CMA CGM and MSC to cooperate on Europe-Australia service

March 8, 2019 - Ocean Alliance member CMA CGM and the 2M’s MSC are to jointly launch a service connecting northern Europe, the Mediterranean, Australia, and South-east Asia. The partnership will see the carriers upgrade their respective Nemo and Australia Express services with the deployment of significantly larger tonnage, and is set to launch in September, assuming regulatory approval.
Source: The Loadstar