U.S. Extends China Tariff Truce to Mid-November, Averting Steep Hikes; Pause on U.S. Reciprocal Tariffs Ends, Retailers Cut Import Forecast Through 2025, Small Carriers Return to Red Sea Transits
This week: Trump extends U.S.-China tariff truce by 90 days, avoiding steep hikes ahead of holiday import surge US reciprocal tariff policy returns after months-long pause, businesses adapt to “new normal” After months of frontloading during the tariff...
Freight Market Update – August 2025
This month: Spot rates fell 3.3% with no traditional peak season in sight. Rate softness expected through late 2025 due to new U.S. tariffs and Chinese vessel restrictions. Southeast Asia ports see higher loadings than China; tropical storms delay Chinese port...
New 25% Tariff on India for Russian Oil Imports – Duty Drawback Still Eligible
On August 6, 2025, President Trump issued a new Executive Order under the International Emergency Economic Powers Act (IEEPA) imposing a 25% ad valorem tariff on all goods from India, in response to India’s continued purchases of Russian oil and petroleum products....
CBP Issues Guidance for New Reciprocal Tariffs Effective August 7
U.S. Customs and Border Protection (CBP) has released updated guidance on the implementation of reciprocal tariffs under the authority of the International Emergency Economic Powers Act (IEEPA) and Executive Order 14257, as amended by the July 31, 2025 Executive...