Dear Valued Customers,

On Friday May 29, Trump held a presser to announce actions he will take against China, Hong Kong and the World Health Organization (W.H.O.) for the following reasons:

  • Ongoing Chinese theft of U.S. industrial and technological secret
  • China unlawfully claimed territory in the Pacific Ocean, threatening freedom of navigation
  • China broke its obligations to maintain autonomy of Hong Kong in violation of the 1984 treaty with England with 27 years remaining, by unilaterally imposing control over Hong Kong’s security, changing the “one country/two systems” to “one country/one system”
  • China ignored its reporting obligations to the W.H.O. and covered-up the facts when the Wuhan virus was first discovered
  • China pressured the W.H.O. to mislead the world about transmissibility of the virus causing a global pandemic resulting in the loss of lives of over 100,000 in the U.S. and over 1 million globally and global economic harm
  • The W.H.O. refused to make reforms requested by the USA

Based on the foregoing, Trump announced the following actions he intends to take:

  • Terminate the relationship with the W.H.O. and will redirect funds to other global health organizations
  • Rebuild America’s economic independence
  • Restore critical supply chains
  • Protect America’s scientific and technological advances from being stolen by China
  • Issue a proclamation today to secure vital research by American universities and suspend entry by certain foreign nationals from China who are identified as potential security risks
  • Take action to protect the integrity of America’s financial systems by:
    • directing a Presidential Working Group to study differing practices on Chinese companies listed on US financial markets
    • protecting American investors from hidden and undue risks by Chinese companies that do not play by the same rules
  • Since Hong Kong is no longer sufficiently autonomous, the Trump Administration will begin the process of eliminating policy exemptions and special treatment afforded to Hong Kong as follows:
    • The full range of treaty agreements with Hong Kong are affected
    • Export controls of dual-use technology applicable to China will be enforced against U.S. exports to Hong Kong
    • Revise State Department travel advisories to Hong Kong to reflect an increased danger of surveillance and punishment by the Chinese state security apparatus
    • Revoke Hong Kong’s preferential treatment as a separate customs and travel territory from China
  • Steps will be taken to sanction certain Chinese officials who are directly or indirectly involved in eroding Hong Kong’s autonomy

Trump did not provide specific dates as to when these actions will take place.

The main take away for international traders appears to be the treatment of Hong Kong as a part of China, making all Hong Kong imports and exports subject to the same rules applicable to China. We believe this would mean that the country of export would become CN (China) instead of HK (Hong Kong), thereby making imports from Hong Kong subject to Section 301 duties and other restrictions such as antidumping and countervailing duties applicable to Chinese exports, etc.

If you currently trade with Hong Kong, you may wish to review your import/export transactions to determine how your transactions will be affected by the changes before they go into effect.

See our latest updates on COVID-19 (corona virus). Thank you for your attention and cooperation. If you have any questions, please contact your nearest JJB representative.

Keep yourself updated with the latest industry happenings, subscribe to JJB’s Newsletters!

The information accompanying this newsletter contains confidential information belonging to the sender which is legally privileged. The information is intended only for the use of customers of James J. Boyle & Co. If you are not the intended recipient, you are hereby notified that any disclosure, copying, distribution or the taking of any action in reliance on the content of this information is strictly prohibited. James J. Boyle & Co. will also not be held accountable for any discrepant information. The service we provide is based on our "Terms and Conditions of Service", which is available upon request.

You are provided this copy subject to the terms and conditions of our services.  All rights reserved.
CONTACT US
SUBSCRIBE TO OUR ENEWS

    Please prove you are human by selecting the star.

    JJB Trak
    CONTACT US
    JJB Trak
    SUBSCRIBE TO OUR ENEWS

      Please prove you are human by selecting the plane.

      CONTACT US
      SUBSCRIBE TO OUR ENEWS

        Please prove you are human by selecting the plane.

        JJB Trak

        SPECIAL PROJECTS

        SPECIAL PROJECTS

        SPECIAL PROJECTS

        Have a special shipment? We use the latest technology to research and create the best custom packages to get the project done.

        We are at our best when confronted with a logistical challenge, one-time project or other special need. With more than 50 years’ experience, access to the latest technology and world-class Customs Brokerage and freight forwarding expertise, we can help design customized solutions that meet your needs.

        For more information about how we can help you, please contact us at our office location most convenient to you.

        CUSTOMS BROKERAGE

        CUSTOMS BROKERAGE

        CUSTOMS BROKERAGE

        You have someone on your side that understands the rules and regulations that your cargo will need to meet in order to ensure a streamlined shipping process and expedited Customs clearance.

        Our relationships with government agencies and gatekeepers helps to minimize delays that might be brought on by new legislation, updated requirements, or any other potential road blocks. We continuously stay up to date on industry news and trends. Our goal is to cover every logistical base making it possible for full Customs release prior to cargo arrival into port.

        From raw materials to processed goods, we ensure that your cargo reaches its destination in the most cost-efficient manner.

        We can assist you by pre-clearing your cargo, providing last-mile final delivery services to the ultimate U.S. destination, or warehousing services as your needs dictate.

        INTERNATIONAL LOGISTICS

        INTERNATIONAL LOGISTICS

        INTERNATIONAL LOGISTICS

        We will handle all of the planning and booking of your inbound and outbound cargo while giving you real-time status updates in the most efficient and transparent way possible.

        Our team provides the latest freight rates, whether ocean or air, to ensure the most competitive bids are secured for you. We will also manage the documentation making it a smooth process from port to port. We can provide a full range of booking services, freight cost analysis, and coordination of your jobs requiring multi-modal transportation when you choose us for your logistics needs.

        EXPORT

        EXPORT

        EXPORT

        With ever growing export regulations and special rules or sanctions on specific countries, you need an expert that can properly screen cargo to ensure it meets TSA standards and file the necessary data via AES (Automated Export System).

        Our expert staff will export your cargo via ocean or air expeditiously and with great care.

        CONSULTING

        CONSULTING

        CONSULTING

        Decades of experience as a successful freight forwarder and U.S. Customs broker puts us in the unique position to advise and consult with you as you seek to enter or expand your presence in global trade.

        Your regulatory and logistical needs are as unique as your business! Whether you need tariff classification advice, a binding ruling, drawback services, or assistance with an internal audit, we take pride in delivering the kind of custom-tailored services that are difficult to find in larger companies. Take the first step towards success in the world of international freight forwarding and Customs brokerage by contacting our consulting division today.

        © 2024 JAMES J. BOYLE & CO. ALL RIGHTS RESERVED. - WEBSITE DESIGN BY ELEMENT212. - VIEW OUR PRIVACY POLICY - VIEW OUR TERMS & CONDITIONS.