I screamed at the top of my lungs what’s going on! Come by for a casual end-of-year chat about what’s happening in the world of international trade. Our experts have a grab bag of topics, and you’re welcome to submit your own questions!
East and Gulf Coast Ports Hit by First ILA Strike in Over 40 Years as Contract Expires
East and Gulf Coast Ports Hit by First ILA Strike in Over 40 Years as Contract Expires
October 1, 2024/
The ILA began picket lines early this morning after the contract expired at midnight. The strike impacts 36 ports, all East and Gulf Coast. Currently the US Maritime Association (USMX for some reason) is in negotiations with the International Longshoremen's Association. There hasn't been an ILA (East/Gulf Coast ports) strike since 1977. That has led to some West Coast traffic moving to those ports since West Coast ports are more.
Related Posts
Justice: Venezuelan Man Sentenced for Role in Scheme to Evade U.S. Sanctions on Oil Company
A Venezuelan man was sentenced to 30 months in prison and 3 years of supervised release for participating in a scheme to evade US sanctions on a sanctioned oil company. Read More
OFAC: Treasury Reaches Settlement with American Life Insurance
Treasury announced a settlement with American Life Insurance Company for 2,331 apparent violations of Iranian sanctions. There were insurance policies provided to UAE entities that were owned or controlled by the Iranian government. American Life self-disclosed the violations. Read More
Justice: Justice Department Proposes Rule to Control Access to Bulk Personal and U.S. Government Data
Justice is proposing a rule that implements an Executive Order from February, with the goal of controlling access to bulk personal data and US government-related data. Comments are due by 11/29/2024. The 112-page document also address comments that were made following the March 2024 advanced notice of proposed rulemaking. The rule here identifies classes of…
BIS: New York Semiconductor Firm Shipped $17.1 Million in Wafers to Entity List Company
BIS has imposed a civil penalty of $500,000 on GlobalFoundries US. GlobalFoundries is a semiconductor manufacturer in New York, and they shipped ~$17.1 million in semiconductor wafers to a company on the BIS Entity List without licenses. They voluntarily disclosed, cooperated with the investigation, and took remedial issues after discovery. Read More