International Trade Systems purchased VelaTrack for an undisclosed amount, ITS said in a news release. The deal allows ITS, a customs clearance and freight management solutions company, to offer "visibility of shipments including the ability to track origin, destination and transit airport events," it said. "Customers will now be able to manage estimated times of departure and arrival as well as transshipment schedules."

Most of the computer, aviation and automotive, electrical and machinery products that will be hit by tariffs under Section 301 are produced by foreign companies operating in China, according to an updated study from the Peterson Institute for International Economics. The think tank says it aims to do "truth telling about the benefits of globalization" as well as study labor market adjustment due to globalization and how to find a sustainable growth model for mature economies.

The Coalition of American Metal Manufacturers and Users posted a "comprehensive list of retaliatory tariffs" as of June 11. The list covers retaliatory tariffs, either currently in effect or proposed, from Canada, China, the European Union, India and Mexico. "Other countries including Japan, Russia and Turkey have warned of potential retaliation but have not announced formal tariffs," the group said. The tariffs are in response to Section 232 tariffs on U.S. imports of steel and aluminum. The Mexican tariffs took effect on June 5 (see 1806050041), while Canada's take effect July 1 and the EU's on June 20 (see 1806010022). China's tariffs took effect April 2, and India's take effect on June 21.

The European Union's General Data Protection Regulation (GDPR) may limit the applications of blockchain within international trade, the Venable law firm said in an alert. "One unintended consequence of the GDPR, which became enforceable on May 25, is that it creates serious legal uncertainties for companies that are developing and/or considering whether to implement potential blockchain applications for the supply chain," it said. Because GDPR limits the use of personal data records and blockchain technology is inherently difficult to alter, the regulations raise "numerous legal questions regarding the possible use of blockchain for supply chain applications," Venable said. " For example, using blockchain to transmit bills of lading would help prevent fraudulent transactions; however, a bill of lading may contain personal data." There may be "opportunities to make the case to EU authorities that additional clarity and flexibility is needed to 'future proof' the GDPR so as to allow for the use of blockchain and other new technologies that have the potential to yield immense benefits to global supply chains and enhance global economic growth," the law firm said.

Imports at major U.S. retail container ports are expected to set record volumes this summer and fall, despite the Trump administration’s threat to impose tariffs on $50 million worth of goods from China, the National Retail Federation said in a news release. “Consumers are buying more and that means retailers are importing more,” the NRF said. “Imports continue to be the primary source of high-quality, mass-produced necessities at affordable prices and will be for the foreseeable future. If tariffs are imposed on consumer goods, that will only drive up prices for American families while doing little or nothing to punish those responsible for unfair trade practices.” The report estimates U.S. ports handled 1.63 million 20-foot-long cargo containers or their equivalents in April, which was down 5.8 percent sequentially from March and up 0.3 percent year-over-year. It estimates ports handled 1.77 million containers in May, up 1.3 percent year-over-year. It forecasts monthly year-over-year increases averaging nearly 4 percent from June through October.

The National Customs Brokers & Forwarders Association of America suggested that members review the new European Union privacy rules that took effect May 25 and consider developing a compliance policy. The General Data Protection Regulation (GDPR) is meant to protect the personal data of those in the EU. "The GDPR applies to all companies and organizations that offer services or products to EU residents," the NCBFAA said in an email to members. "Even if you have no offices in the EU, no members in the EU and no meetings in the EU, if you transact business there or send promotional materials to EU residents, you are probably covered by the GDPR."

The planned Section 301 tariffs on $50 billion in goods from China are "decades overdue," said Coalition for a Prosperous America Chairman Dan DiMicco in a news release on the White House announcement that the tariffs will go forward (see 1805290024). "We appreciate that President Trump is now making clear that the age of appeasement for China’s trade cheating is at an end," DiMicco said.

The U.S. Chamber of Commerce remains concerned for the ramifications of ending country exemptions to the Section 232 tariffs on steel and aluminum, the trade group said in a news release. "The U.S. must not expand tariffs or quotas on steel and aluminum imports to additional countries on June 1, as has been threatened," it said. Already, steel costs have increased, as has the volatility in aluminum prices, the Chamber said. "Extending the reach of these tariffs and quotas to additional countries is certain to provoke widespread retaliation from abroad and would put at risk the economic momentum achieved through the administration’s tax and regulatory reforms. We urge the administration to take this risk seriously.” The country exemptions for Canada, Mexico and the European Union are set to end on June 1 (see 1805040046).

Imports at major U.S. retail container ports are expected to grow “steadily” throughout the summer despite the Trump administration’s threat to impose 25 percent tariffs on goods from China, the National Retail Federation said May 9 in its monthly port-tracker report. “With proposed tariffs yet to be officially imposed, retailers are stocking up on merchandise that could soon cost considerably more,” NRF said. “If tariffs do take effect, there’s no quick or easy way to switch where these products come from.” U.S. ports handled 1.54 million 20-foot-long cargo containers or their equivalents in March, NRF said. Though that was down 8.6 percent from February and 0.7 percent lower year over year, April was estimated at 1.73 million containers, a 6.4 percent increase from the same month a year earlier. NRF also is forecasting monthly increases through September, including the possibility of record imports in July and August. The first half of 2018 is expected to total 10.4 million containers, an increase of 5.8 percent over the first half of 2017.

U.S. exports to China grew in 2017, the U.S.-China Business Council announced in a report released just before an American delegation travels to China to confront that country's intellectual property rights and other trade violations. The report says that the U.S. exported more than $127 billion in goods to China, its third largest market. Exports to China increased by 86 percent from 2006 to 2017, while exports to all other countries only increased 21 percent. "Despite trade barriers that frustrate full market access, US exports to China continue to contribute to US economic growth," USCBC President John Frisbie said. Although the business council has been concerned for years with Chinese government actions favoring domestic producers (see 1610050048), it has reacted with alarm to the tariff solution the administration is proposing (see 1804060033).