The United States Mexico Canada (USMCA) Trade Agreement—the “new NAFTA”—goes into effect today. The USMCA modernizes the North American Free Trade Agreement (NAFTA), which originated in January 1994. Canada and Mexico are among the top three trading partners for Massachusetts, representing billions of dollars in cross-border business. This trilateral trade relationship is one of the […]
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Companies mapping out re-start plans post-COVID-19 face a variety of challenges on the international trade front. Disrupted global supply chains, extensive shutdowns of factories in Mexico, tighter export controls on products destined for China, and high tariffs on imports from China and Europe continue to vex businesses. Supply Chains – Supply chain disruption began in […]
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Tariff relief continues to be a priority for many US companies. Supply chain disruptions are deepening. Containers sit empty, idle or both at ports around the world. Export restrictions are embraced—temporarily? And the International Monetary Fund (IMF) and WorldBank share profound concerns about the global economy. Tariff Relief—With US companies fighting for survival and conserving […]
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An expected surge of unemployment insurance applications from independent contractors poses a significant legal threat to employers in Massachusetts and elsewhere. The federal CARES Act extends pandemic unemployment insurance benefits for the first time to independent contractors whose work has ceased or been substantially reduced by COVID-19. The problem, according to experts, is that many […]
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Companies across the globe are experiencing major supply chain interruptions. The US plans to provide tariff relief delays of 90 days to companies looking to conserve cash. G-20 countries have agreed to be cautious about restricting the flow of medical supplies and pharma products. And the USMCA is delayed again. Supply Chain Disruptions—Global supply chains […]
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COVID-19 is affecting international trade. Here’s an update on the United States-Mexico-Canada Agreement (USMCA), air freight, tariffs, Buy American, DPA, export restrictions and China’s recovery. USMCA—The US Trade Representatives informed Congress that the USMCA (new NAFTA) will come into force June 1. This ten-week time frame is ambitious and and is causing concern, particularly among […]
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A majority of Massachusetts members of the US House of Representatives voted last week to approve the United States-Mexico-Canada (USMCA) trade agreement that has been strongly supported by AIM and other business groups. Members of the Massachusetts delegation voting in favor included US Reps. Richard Neal, Stephen Lynch, Katherine Clark, William Keating, Seth Moulton and […]
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Associated Industries of Massachusetts and its 3,500 members today urged the United States Congress to approve the new USMCA trade agreement with Canada and Mexico. The reason is simple – Canada and Mexico purchase more US-made goods than the next 11 trading partner countries combined. USMCA will help to preserve more than 2 million American […]
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Associated Industries of Massachusetts announced the winners of the 24th annual AIM Global Trade Awards, which recognize Massachusetts companies and public agencies of all sizes that have demonstrated excellence in international business. The 2019 honorees represent both Massachusetts manufacturing and professional service industries and include: Crane Currency, Globalization Partners, and SMC Ltd. “From the more traditional manufacturing […]
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The economic impact of the Port of Boston has almost doubled since 2012 as the facilities serve as a gateway for increased global commerce both to and from Massachusetts, according to a report issued this morning.
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