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DGX - Dependable Global Express
Dear Valued Customer,
The following is provided for your information:
The Offices listed below will be closed for the holiday as follows:
National Foundation Day
Substitute Holiday for Emperors Birthday
EDSA Revolution Anniversary
Please remember that certain offices are across the International Dateline. The dates above are their dates, not the actual U.S. date.
Incoterms 2020 was published on September 10, 2019 and became effective January 1, 2020. The text (ICC Publication 723) can be obtained from various ICC online book stores. Although the layout of the text is very different from Incoterms 2010, there are very few substantive changes to the meaning of the rules.
Incoterms 2020 is supposed be easier to understand. Or at least, that’s what the ICC reportedly intends to achieve in the new edition - to reduce grey areas and eliminate misunderstandings. The committee is well-aware of the seriousness and potential consequences caused by misinterpretations of Incoterms and aims to facilitate the understanding of these transport terms with Incoterms 2020.
Section 301 Tariff Update
Following the Phase One U.S.-China trade deal agreement that was signed last month, the USTR has announced that the List 4A tariffs, which had increased to 15% in September, will now be reduced to 7.5% effective February 14, 2020. The new rate is applicable to customs entries filed on or after February 14. Entries filed before that will remain at 15% and this reduction is not retroactive. As of now, List 4B tariffs are not scheduled to go into effect. List 1-3 tariffs remain at 25% until negotiations for Phase Two is completed.
As a measure to prevent the spread of the Coronavirus, the Chinese government has decided to extend the Chinese New Year holiday until February 3rd. Local city government is further extending the holiday until February 9th for Shanghai. Our associates are monitoring emails and working out of their homes to continue to properly service you and your businesses.
In Hong Kong, the government has declared a state of emergency, albeit we are uncertain at this point what those repercussions are and what that means to ocean carriage schedules. Currently, all of our employees in Hong Kong are working from home until February 2nd.
As of now, other than Wuhan port, all other Chinese ports remain open. Except for Wuhan port have not been informed of significant impact to vessel schedules.
We will continue to keep you informed of developments.
Should you have any questions, please contact your local DGX office or representative, or call us at 888-488-4888 or at 310-669-8888.
Thank you for your business – we appreciate it!