Latest news with #US-Bound
Yahoo
25-04-2025
- Business
- Yahoo
JFK Airport's New $270M Cargo Hub Opens Amid Customs Clampdown
John F. Kennedy International Airport has opened a new $270 million cargo-handling facility as part of the transportation hub's push to modernize and consolidate logistics operations. As the first new cargo facility at the Queens, N.Y. airport built in 25 years, the Building 260 cargo center will combine operations from four separate cargo zones into a single location in an effort to reduce congestion and open up space for future development. More from Sourcing Journal Bangladesh Apparel Sector Says High Freight Costs Are a Policy Problem DHL Freezes US-Bound High-Value Consumer Parcels Amid Customs Gridlock Bangladesh Airports to Debut Cargo Ops After India Ends Transshipment Access Building 260 is expected to increase total cargo capacity at JFK by roughly 25 percent, in a move aimed at further augmenting the airport's role as a premier global trade hub, particularly when it comes to high-value cargo such as pharmaceuticals, electronics and perishables. The Port Authority of New York and New Jersey, which also oversees the Port of New York and New Jersey, spearheaded the project in a public-private partnership with transportation real estate investment firm Realterm and air cargo logistics provider Worldwide Flight Services (WFS). WFS, JFK's primary cargo handler, will operate the 350,000-square-foot facility spanning 26 acres. Construction for the project began in 2021, with the site replacing two facilities demolished that year. Already the eighth-busiest cargo airport in the U.S. and 21st globally, JFK also holds the distinction as the nation's busiest entry point for low-value international e-commerce packages, handling about 25 percent of all such incoming shipments. The cargo hub is complemented by a new 100,000-square-foot centralized examination station located at another WFS-operated facility at the airport that opened in February. All shipments requiring inspection will need to be transported to the station, which is staffed by U.S. Customs and Border Protection (CBP) officers. The opening of both facilities is timely given the ongoing changes to customs regulations for U.S. imports under the Trump administration. The de minimis provision, which previously exempted packages worth less than $800 from duties, is going away May 2 for imports from China. This is likely to create a logjam now that low-value packages will be subject to more scrutiny at customs processing points. Backlogs have already started at cargo facilities throughout the U.S. due to another alteration that went into effect April 5, in which the formal entry processing threshold was lowered from $2,500 to $800 per package. In response to the flurry of high-value packages entering the U.S. that fall into the new threshold, DHL had to indefinitely suspend acceptance of consumer packages above $800 at customs. 'By replacing outdated facilities with a modern cargo center, we're preparing for the future and improving efficiency and sustainability at JFK,' said Port Authority executive director Rick Cotton in a statement. 'JFK plays a central role in global commerce, and this modern consolidated cargo center strengthens its position as a key gateway for high-value goods and international trade.' The new facility is expected to reduce wait times for truck drivers and minimize queuing outside the facility. It will include an advanced truck dock management system designed to optimize the flow of goods in and out of the facility by using real-time scheduling, automated check-ins and digital communication between drivers and dock operators. The system is designed to automatically match each truck with the most efficient doors of entry based on the size, type and contents of each delivery, which ideally would maximize throughput and reduce delays. It also ensures that trucks arrive only when a dock is available, which should help cut the wait times. This coordination is built to ensure fewer trucks are on the road or waiting in nearby neighborhoods, leading to additional benefits like reduced noise, emissions and traffic congestion for the surrounding community. Furthering the Port Authority's commitment to reach net-zero carbon emissions by 2050, the new cargo-handling center features electric forklifts, electric vehicle chargers and an automated unit load device system to optimize power usage. The new consolidated cargo-handling center also includes 3,000 square feet of cooler space for goods requiring 2 to 8 degrees Celsius and 15 to 25 degrees Celsius environments, making it JFK's first dedicated on-airport facility for temperature-sensitive pharmaceuticals and perishables. JFK Airport, like many of its contemporaries, has handled an influx of cargo in the wake of the acceleration of e-commerce throughout the Covid-19 pandemic. In 2024, JFK handled 1.67 million tons of cargo, a 5 percent increase from 2023 and 25 percent more than in 2019. The JFK air cargo sector supports more than 93,000 direct and indirect jobs and generates $11.4 billion in economic activity annually. The center is expected to generate 100 permanent new jobs, as well as more economic development opportunities. Additionally, the project exceeded its goals for participation by minority and women-owned business enterprises, with more than 42 percent of construction contracts awarded to these firms.
Yahoo
11-04-2025
- Business
- Yahoo
From the Newsroom: Will the ‘Tariffpocalypse' Transform Fashion Forever?
The fashion and retail industries are grappling with mounting challenges as new tariffs and a shifting global trade landscape create widespread uncertainty. In the latest episode of WWD Voices' 'From the Newsroom, host Arthur Zaczkiewicz sat down with Kate Nishimura of Sourcing Journal and Evan Clark of WWD to make sense of the chaos behind recent headlines. [To listen to the episode, ] More from WWD Alamelu, an Indian Luxury Ready-to-wear Collection Looks to Make Inroads in U.S. LIM Fashion Education Foundation Honors Sam Edelman and Amanda Smith With Fashion Forward Awards Mikimoto America Names Kentaro Nishimura as President and Chief Executive Officer The editors discussed how U.S. President Donald Trump's decision to hit pause on some of his new tariffs is offering a short-lived reprieve for retailers. However, the increase in tariffs on Chinese goods to an astronomical 145 percent continues to send shockwaves through the fashion apparel and footwear industry. Nishimura quoted Nate Herman of the American Apparel and Footwear Association, who described current conditions as 'chaos and paralysis' as companies face uncertainty when planning for the next quarter. Clark noted the impact on Walmart, one of the world's largest retailers, as the company navigates tariffs that hit its international supply chain particularly hard. Despite this, Walmart has maintained its guidance, signaling cautious optimism for now. 'If these tariffs truly stick, the business model for much of the fashion industry could just stop working,' Clark warned. The escalating costs are expected to ripple across supply chains, leading to fewer products on shelves and rising prices for consumers. For ongoing coverage of these developments, visit WWD and Sourcing Journal. Here are some of the headlines that informed today's episode: Amazon Pulls Plug on Some China Orders, Footing Vendors with Tariff Bill Update: Trump Drives Another Nail Into De Minimis Skims, Versace and Dockers: How Tariffs Turned the Fashion Deal Market Into the Price Is Right Walmart Stands Strong Despite Tariffs, E-commerce Business Hits Profitability Markets Rally as Trump Backtracks, Pausing Tariffs for 90 Days Prada Acquires Versace for 1.25 Billion Euros US-Bound Cargo Set to Plummet 20% in Second Half on Tariff Worries White House Clarifies That Duties on China Have Hit 145% Markets Rally as Trump Backtracks, Pausing Tariffs For 90 Days
Yahoo
11-04-2025
- Politics
- Yahoo
Trump Threatens Mexico With Additional Tariffs Amid Water Dispute
President Donald Trump on Thursday threatened to impose additional tariffs and potential sanctions on Mexico for breaking an 81-year-old water-sharing treaty with the United States that he said was 'stealing the water from Texas farmers.' Under the 1944 treaty, Mexico must send 1.75 million acre-feet of water, or more than 570 billion gallons, from the Rio Grande through a network of dams and reservoirs every five years. According to data from the International Boundary and Water Commission, a binational body created by the United States and Mexico to regulate water distribution between the two countries, Mexico has so far sent less than 30 percent of the required water under the current five-year cycle, which ends in October. More from Sourcing Journal Tariff Ping Pong: China Slaps 125% Duties on US, Pursues Trade Deals With Other Nations Reshoring's Reality? 'Turtles All the Way Down', One Denimhead Predicts US-Bound Cargo Set to Plummet 20% in Second Half on Tariff Worries Writing on Truth Social, Trump accused Mexico of failing to provide 1.3 million acre-feet of water, or more than 420 billion gallons, which he said was 'very unfair.' 'I will make sure Mexico doesn't violate our Treaties, and doesn't hurt our Texas Farmers,' he posted. 'Just last month, I halted water shipments to Tijuana until Mexico complies with the 1944 Water Treaty. My Agriculture Secretary, Brooke Rollins, is standing up for Texas Farmers, and we will keep escalating consequences, including TARIFFS and, maybe even SANCTIONS, until Mexico honors the Treaty, and GIVES TEXAS THE WATER THEY ARE OWED!' Responding in another social media post, this time on X, Mexican President Claudia Sheinbaum acknowledged the shortfall, writing in Spanish that the Central American nation has been complying with its treaty obligations 'to the extent water is available' but that a three-year drought has severely impeded its ability to do so. She said that her government sent a 'comprehensive proposal' to U.S. officials, also on Thursday, to address Texas's water supply in a manner that would be amenable to both countries. 'I am confident that, as on other issues, an agreement will be reached,' she added. Large swaths of Mexico have been experiencing long-term drought, largely due to a lack of rain. Nearly 76 percent of the country faced unusually dry conditions through the end of May 2024, according to the North American Drought Monitor. Researchers have blamed the worsening trend of heat waves on human-induced climate change, a phenomenon that Trump has deemed a hoax. Any water-related levies would be in addition to the 25 percent fee on Mexican imports crossing the U.S. border—the result, Trump has said, of Mexico not doing enough to halt the flow of drugs and migrants into the United States—albeit with a carveout on products traded under the free-trade U.S.-Mexico-Canada Agreement. Mexico, like Canada, has been spared from the 10 percent 'global' reciprocal tariffs. Tensions over water distribution between the United States and northern Mexican states are a longstanding problem. They came to a head during Trump's first term in 2020 when Mexican farmers took control of the Boquilla dam in the border state of Chihuahua in an effort to block water deliveries to Texas, resulting in a standoff with the Mexican National Guard that killed one woman and injured a man. Trump appears pleased with his strategy of rewriting global trading relationships through tariffs, though the whipsawing markets, mired in uncertainty and chaos, may not agree. 'We are doing really well on our TARIFF POLICY,' he wrote Friday morning. 'Very exciting for America, and the World!!! It is moving along quickly.' He signed the missive with his initials, DJT.
Yahoo
11-04-2025
- Business
- Yahoo
Tariff Ping Pong: China Slaps 125% Duties on US, Pursues Trade Deals With Other Nations
Beijing seems to be making good on its promise to 'fight to the end' in the tariff battle with Washington. On Friday, Chinese President Xi Jinping hit back at U.S. President Donald Trump's staggering 145-percent duties on Chinese imports (which he clarified Thursday compounded 125-percent duties announced this week with 20-percent fentanyl-related levies announced previously). As a result, Xi raised duties on goods imported from the U.S. to 125 percent, up from the 84 percent duties China imposed on U.S. goods earlier this week. More from Sourcing Journal Reshoring's Reality? 'Turtles All the Way Down', One Denimhead Predicts US-Bound Cargo Set to Plummet 20% in Second Half on Tariff Worries Female Founders Like Rebecca Minkoff and Allison Luvera Stand Up to Tariffs In Letter To Congress China's Finance Ministry said Trump's continued tariff increases constitute 'bullying' on an international stage. 'The U.S. side's imposition of excessively high tariffs on China seriously violates international economic and trade rules, runs counter to basic economic principles and common sense and is simply an act of unilateral bullying and coercion,' the ministry said in a statement. The ministry further noted that the increase to 125-percent tariffs on the U.S. may be its last lash, even if Trump continues to increase tariffs on China. 'Even if the U.S. continues to impose even higher tariffs, it would no longer have any economic significance and would go down as a joke in the history of world economics,' the ministry said in a statement, adding, 'If the U.S. continues to play a numbers game with tariffs, China will not respond.' Still, the ministry reaffirmed its promise that China would continue the fight and noted that Beijing may pursue other retaliation measures. Jamieson Greer, the U.S. trade representative (USTR), took to Fox News Friday morning to discuss the fallout, and noted that much of the reason the Trump administration has elected to take such draconian measures against China is to 'achieve more fair and balanced and reciprocal trade with other nations' by eliminating barriers that could impede U.S. companies. 'The Chinese reaction this morning is not terribly surprising but certainly unfortunate,' Greer said on Fox & Friends. 'No one else has retaliated against these reciprocal tariffs, yet China got out ahead and decided to do it, and that's why they're in a different category the rest of this point.' Tensions with China show little promise of easing, with Greer further noting that the administration has a bullish attitude toward moving sourcing away from China. 'We need to diversify from China and be able to source from other countries,' Greer said. 'I'm obviously sensitive to the needs of households and what we're seeing, but we've been put in a position—and in a point of emergency, frankly—where if we can only maintain our standard of living by being dependent on China, who is a strategic adversary, that's a very dangerous position to be in and so, and so we need to accelerate this.' Trump hasn't directly weighed in on China's latest blow, but, as he is prone to do, shared a brief message on Truth Social Friday morning. 'We are doing really well on our TARIFF POLICY. Very exciting for America, and the World!!! It is moving along quickly. DJT,' he wrote. While the relations between China and the U.S. continue to grow harsher, China is reportedly looking to cozy up with other nations on trade deals. Xi met with Pedro Sanchez, Spain's prime minister, about linking with the European Union to circumvent economic difficulties that could come about for both nations because of Trump's tariff policy. 'China and the EU must fulfill their international responsibilities, jointly safeguard the trend of economic globalization and a fair international trade environment, and jointly resist unilateral and intimidating practices,' Xi said during the meeting with Sanchez in Beijing. Xi, without directly mentioning the U.S., commented during the same meeting that, 'There will be no winners in a tariff war, and going against the world will only isolate oneself.' The Chinese president's negotiations appear to be far from finished; he has plans to travel to Southeast Asian nations—some of them premier destinations for non-China sourcing—next week. His stops include Vietnam and Cambodia. And though China's economic interdependence with Vietnam has benefitted both nations, Vietnam's latest act appears to be an appeal to the U.S. According to Reuters, Vietnamese officials are considering a crack down on transshipping—that is to say, goods being shipped from China through Vietnam, into the U.S. market—in an effort to appease the Trump administration. Vietnamese officials met with the USTR Wednesday about the tariffs, and, per Reuters, Vietnam is hoping to see its final tariff number land between 22 and 28 percent, down from the 46-percent 'retaliatory tariff' the president announced during his 'Liberation Day' press conference. Vietnam's purported move comes at a time where any distance from America's biggest foe seems to be a bargaining chip with the Trump administration. Still, the intertwined nature of the Vietnam-China supply chain could be nearly impossible to sever.
