In response to the Panama Canal Authority's (ACP) revised booking system effective January 1, 2025, major shipping lines are introducing transit surcharges. MSC and CMA CGM will levy a $40 per TEU fee on all cargo types from Asia to U.S. East and Gulf Coasts. The ACP's modifications include changes to tariff structures and the introduction of new fees aimed at optimizing transit operations. These surcharges reflect carriers' efforts to offset increased costs due to the ACP's adjustments.

A recent report highlights that a significant portion of goods imported into the United States may be produced using forced labor, particularly from China's Xinjiang region. The Uyghur Forced Labor Prevention Act (UFLPA), enacted in December 2021, aims to prevent such goods from entering the U.S. market. Since its implementation, U.S. Customs and Border Protection (CBP) has intensified enforcement, detaining nearly 4,000 shipments valued at approximately $1.63 billion.

The 20th edition of the Global Risks Report comes at a time when several structural forces continue to reshape the global landscape. Environmental risks remain a top long-term concern, while geopolitical risks, particularly conflicts, top immediate concerns. Societal risks like inequality rank high, and polarization within societies is hampering policy-making while fueling misinformation. The report emphasizes that multilateral solutions are essential for addressing these interconnected challenges, despite the current fragmented global environment.

Solid wood packing materials (SWPM) are regulated for entry by the United States Department of Agriculture. On January 1st, the marking requirements changed for what is called the ISPM 15 stamp. The most significant change is the ISPM 15 marking can no longer include "DB" text/code as it will be refused entry into the United States and exportation will be the only alternative. For more information, click to download this two-page explainer from Coppersmith and the USDA.