Latest news with #importers
Reuters
a day ago
- Business
- Reuters
Ugandan shilling broadly stable, under mild pressure
KAMPALA, June 4 (Reuters) - The Ugandan shilling was broadly stable against the dollar on Wednesday, although was under mild pressure as importers in the manufacturing and energy sectors sought foreign exchange, traders said. At 0845 GMT commercial banks quoted the shilling at 3,637/3,647, compared to Monday's close of 3,635/3,645. Markets were closed on Tuesday for a national holiday.
Bloomberg
3 days ago
- Business
- Bloomberg
Want to Skip China Tariffs? Talk to Your Bank
The optimism around President Donald Trump's promise of a 'total reset' in relations with Beijing is fading fast; and that's a worrying omen for US importers. For many, the urgency to look outside China for new suppliers is greater than it was during Trump 1.0. The peak US tariff on Chinese goods during Trump's first term was 21%; it is 51% now. Besides, there was a workaround back then. A lot of Chinese-made consumer goods entered America via an exemption from tariffs for parcels below $800 in value.
Reuters
3 days ago
- Business
- Reuters
Ugandan shilling stable on weak importer appetite
KAMPALA, June 2 (Reuters) - The Ugandan shilling was steady in early trade on Monday compared with the previous session, underpinned by slow importer appetite for hard currency, traders said. At 0755 GMT commercial banks quoted the shilling at 3,633/3,643 against the dollar, stable from Friday's close.
Wall Street Journal
5 days ago
- Business
- Wall Street Journal
Customs Brokers Prepare Refund Claims After Court Ruling
Customs brokers are starting to prepare refund claims for U.S. importers, after a trade court ruled Wednesday that President Trump didn't have the authority to impose sweeping tariffs. Customs brokers, who handle the paperwork to process imports and calculate duties, also handle refunds. They said they are awaiting clarity from U.S. Customs and Border Protection on what is refundable. Importers say they are crossing their fingers.
New York Times
6 days ago
- Business
- New York Times
U.S. Ports Grapple With On-Again, Off-Again Tariffs
News that President Trump's tariffs were off and then back on again rippled on Thursday through two California ports that are the busiest in the nation, where tens of thousands of dockworkers, truck drivers and others were working busily to unload containers of imported car parts, T-shirts and computers to be sent around the United States. Speaking from a boat that putted around the harbor of the Port of Los Angeles, Gene Seroka, the port's chief executive officer, said the latest court rulings underscored the uncertainty that importers and the port had been grappling with this year, as tariffs on various countries shot up, only to fall back down again. Late on Wednesday, a federal court ruled that Mr. Trump's tariffs on many countries were illegal and gave him 10 days to reverse them. But on Thursday, a separate court that was hearing an appeal by the Trump administration temporarily paused that decision. Lawyers have now been asked to provide written arguments by early next month. 'Until we have some sense of permanency with trade and tariffs, there remains a lot of confusion,' Mr. Seroka said, as the boat maneuvered between hulking container ships where cranes were loading and unloading steel containers. He said that the court rulings on tariffs were 'one piece in a very complex situation' that businesses were having to navigate. The ports of Los Angeles and Long Beach together process about a third of the containers that come into the United States stuffed with foreign products, and both have seen their business fluctuate as Mr. Trump has repeatedly imposed tariffs and then revoked them. Mr. Seroka said that his port's volume was down about a third in May compared with the prior year. The chief executive officer at the nearby Port of Long Beach, Mario Cordero, said that the Wednesday court ruling and its suspension on Thursday 'reaffirms how, day to day, things change.' For example, he said it appeared just last week that the United States was headed for 50 percent tariffs on European products — but now that has been suspended. Last month, the president jacked up tariffs on Chinese products to a minimum of 145 percent, before reducing them to 30 percent or more this month. 'This industry has gone through a period of uncertainty that I think is unprecedented,' Mr. Cordero said.
