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DGX - Dependable Global Express

12/3/2024

NEWS UPDATE

 

December 3, 2024

 

 

Dear Valued Customer,

 

We are providing the following for your information:

 

Holiday Schedules

The offices listed below will be closed for the holidays as follows:

USA	Christmas Day New Year’s Day	December 25 January 1
Australia	Christmas Day Boxing Day New Year’s Day	December 25 December 26 January 1
New Zealand	Christmas Day Boxing Day New Year’s Day New Year’s Day (Observed)	December 25 December 26 January 1 January 2
Japan	The Day Before New Year’s Eve New Year’s Eve New Year’s Day New Year’s Day (Observed) Coming-of-Age Day	December 30 December 31 January 1 January 2 – 3 January 13
Philippines	Christmas Eve Christmas Day Rizal Day New Year’s Eve New Year’s Day	December 24 December 25 December 30 December 31 January 1

Please remember that certain offices are across the International Dateline. The dates above are their dates, not the actual U.S. date.

 

International Longshoremen’s Association (ILA) Strike Update

In October, tens of thousands of International Longshoremen’s Association (ILA) members ended their three-day strike on the East and Gulf Coast ports. The decision to end the strike was a welcome development for the workers, small business owners, and consumers across America that rely on the ports for vital goods. 

The ILA’s decision to end the strike followed an agreement with the East and Gulf Coast port terminals, represented by the U.S. Maritime Alliance (USMX) to increase pay and extend the current contract through January 15, 2025 to negotiate other issues for a new long-term agreement. This means the ILA could strike as early as January if negotiations go poorly. 

 

Fast Facts: 

 

• For a strike of more than a few days, consumers could see shortages and price increases on items like groceries, clothing, and electronics, affecting workers and families across America. 
• Every day of a strike results in nearly a week of disruptions to the economy. Economists believe a similar disruption in 2002 cost the economy $1 billion per day, and it took six months for the economy to recover.
• It has been estimated that the ILA strike would cost the economy between $3.8 billion to $4.5 billion per day.

• Small businesses would face the brunt of the economic fallout as they are already operating within smaller margins, a tighter labor market, and higher costs from inflation.  

• Because efficient ports are essential for maintaining America's competitiveness in a rapidly evolving global market, strikes and the poor state of many U.S. ports pose serious risks to the country's economic leadership.

• Modern ports are not just economic engines, they are critical nodes in defense and emergency preparedness. 

 

Source: U.S. Chamber of Commerce

 

 

How Tariffs Could Impact Top Imports From Mexico, Canada, and China

President-elect Donald Trump has announced a plan to impose tariffs on all products imported from America’s three largest trading partners: Mexico, Canada, and China. The move could impact the prices of a range of imported goods, from cars to electronics.

 

Trump said via social media that he intends to sign an executive order on Jan. 20, 2025, to charge a 25% tariff on all products coming from Mexico and Canada into the United States. Different numbers have been mentioned for China including a tariff upward of 60% on all Chinese goods, as well as an across-the-board tariff of either 10% or 20% on all other imports into the United States.

 

Mexico:

 

Mexico is the U.S.’s top trading partner. The main products Mexico exports are cars and car parts, as well as electrical machinery and appliances, such as laundry machines. Proposed tariffs could make these cars and appliances built in Mexico, or cars and appliances assembled in the U.S. but that have parts imported from Mexico, more expensive. The U.S. also imports a large volume of agricultural, meat and fish products from Mexico.

 

Canada:

 

America’s second-largest partner is Canada. The U.S. is the top destination for Canada’s exports, the majority of which are crude oils, petroleum gas, lumber, and cars and car parts. The price of lumber imported from Canada could go up—and, in turn, that could increase construction costs in the United States. Tariffs could also raise the cost of home heating oil, as well as gas prices in the U.S.

 

China:

China ranks third among the U.S.’s main trading partners. The U.S. is the top destination for China’s exports, which include a vast range of commodities. China remains the major source of U.S. imports of textile products, footwear, furniture, bedding, lamps, toys, games, sports equipment, paint, electronics such as phones, televisions, and computers, and other miscellaneous manufactured items. 

 

Source: TIME

 

Shippers are still on time to place orders prior to the projected potential tariff increases as well as the Chinese New Year.

 

Please get in touch with your local DGX team for the latest information and planning assistance to minimize possible disruptions and increased costs to your supply chain.

 

 

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Should you need any assistance, contact your local DGX office or call us at 888-488-4888.