| | | | | | Industry News Customs Brokerage News Eastern News | | | | | | | | | | US East and Gulf Coast dockworkers ratify new six-year contract | | On February 25, 2025, over 45,000 U.S. dockworkers represented by the International Longshoremen's Association ratified a six-year contract, securing a 62% wage increase and preventing potential disruptions until 2030. The agreement, effective from October 1, 2024, to September 30, 2030, raises the hourly base wage from $39 to $63, enhances healthcare and retirement benefits, and safeguards workers from automation threats. Approved by 99% of members, the deal followed months of negotiations and a brief strike that disrupted shipping. Covering 36 major U.S. ports, including New York and New Jersey, the contract provides stability for the shipping industry amid global trade uncertainties. Read more | | | | | | | | Houthi militants threaten to restart attacks on Red Sea shipping | | Houthi militants have threatened to resume attacks on merchant shipping in the Red Sea by midweek unless Israel restores humanitarian aid and electricity to Gaza, which were cut earlier this month. Houthi leader Abdul-Malik Al-Houthi issued a four-day ultimatum on March 8, warning that naval operations against Israel would resume if the blockade on aid deliveries, halted since March 2, remains in place. While attacks had been paused since January 19 under the Israel-Hamas ceasefire, that truce expired on March 1 without an extension. S&P Global Market Intelligence has deemed the Houthi threat credible, warning that renewed strikes could pose a severe risk to all vessels in the Red Sea and Gulf of Aden due to uncertain targeting. Experts anticipate the ceasefire process will likely collapse within the next year, leading to renewed military operations in Gaza. The ongoing security crisis has deterred major ocean carriers from resuming Suez Canal transits, with Mediterranean Shipping Co. (MSC) affirming that Red Sea routes will remain suspended until safe passage is assured. Read more | | | | | | | | | | | | US - EU Trade Dispute: Section 232 Tariffs Reinstated, EU Retaliatory Measures Announced | | Effective March 12, 2025, the U.S. reinstated Section 232 tariffs, imposing a 25% duty on steel and aluminum imports, replacing the tariff rate and absolute quotas that expired on March 11, 2025. The new tariffs extend beyond raw materials to include household products like cookware and window frames, as well as machinery, gym equipment, certain electrical appliances, and furniture. Additionally, by May 12, 2025, the U.S. Secretary of Commerce will implement a system to further expand the list of steel and aluminum derivative products subject to tariffs of up to 25%.
In response, the EU will reinstate its previously suspended 2018 and 2020 rebalancing measures on April 1, 2025, imposing tariffs on €4.5 billion worth of U.S. exports, including bourbon, motorcycles, and boats. The EU will also introduce additional countermeasures targeting €18 billion worth of U.S. goods, with a consultation period running from March 12 to March 26, 2025, to finalize the product list. These measures will be fully implemented by mid-April 2025. The EU maintains that its response is proportionate and remains open to negotiations to reach a resolution.
For Guidance on Import Duties on Steel and Steel Derivative Products, visit CSMS # 64348411
For Guidance on Import Duties on Imports of Aluminum and Aluminum Derivative Products, visit CSMS # 64348288
| | | | | | | | Official CBP Statement On Tariffs | | On Saturday, March 8, 2025, U.S. Customs and Border Protection (CBP) issued an official statement regarding tariff updates. The statement outlined the following changes, which were implemented on March 4 and March 7, 2025, under five Presidential Executive Orders for imports from China, Hong Kong, Canada, and Mexico:
- Additional 25% tariffs on goods that do not satisfy U.S.-Mexico-Canada Agreement (USMCA) rules of origin.
- A lower, additional 10% tariff on energy products imported from Canada that fall outside the USMCA preference.
- A lower, additional 10% tariff on potash imported from Canada and Mexico that falls outside the USMCA preference.
- Additional 20% on goods from China and Hong Kong (increased from 10% on March 4).
Starting March 7, 2025, goods from Canada and Mexico that qualify for the USMCA preference will no longer be subject to additional tariffs. The rules for USMCA eligibility remain unchanged and are specified in 19 CFR 182. These updates are effective immediately and are not applied retroactively.
To view the Official CBP Statement, visit CBP Newsroom Announcements
| | | | | | | | Canada announces robust tariff package in response to unjustified U.S. tariffs | | Canada imposed retaliatory tariffs on U.S. imports in response to American trade measures, aiming to protect its economy and jobs. On March 4, 2025, Finance Minister Dominic LeBlanc and Foreign Affairs Minister Mélanie Joly implemented a 25% tariff on $155 billion worth of U.S. goods, starting with an initial $30 billion in imports, including food, beverages, appliances, and apparel. The Canadian government warned that if U.S. tariffs remained in place or expanded, additional countermeasures would target products such as electric vehicles, beef, dairy, and steel.
To support Canadian businesses, the government introduced a remission process for exceptional tariff relief. Additionally, Canada reaffirmed its commitment to border security through a $1.3 billion initiative to combat fentanyl smuggling, which has already contributed to a 97% reduction in seizures. While urging the U.S. to reverse its decision, the Canadian government remained firm in defending its industries against economic harm.
For the full list of products subject to 25% tariffs as of March 4, visit: News: Department of Finance Canada
| | | | | | | | China slaps extra tariffs of up to 15% on imports of major US farm exports and adds trade limits | | China has responded to the U.S. tariff hikes with additional tariffs and trade restrictions. Key details of the new measures include:
Tariffs on U.S. Agricultural Products: - 15% additional tariffs on U.S. chicken, pork, soybeans, beef, wheat, corn, and cotton.
- 10% additional tariffs on sorghum, soybeans, pork, beef, seafood, fruits, vegetables, and dairy products.
- Goods already in transit are exempt until April 12.
Suspension of U.S. Imports: - U.S. lumber imports are suspended due to forest pests like bark beetles and longhorn beetles.
- Three U.S. companies lose soybean export qualifications due to contamination with ergot fungi and seed-coating agents.
Anti-Circumvention Investigation: - Investigation into U.S. fiber optic products to determine potential circumvention of China’s anti-dumping measures.
Restrictions on U.S. Firms: - 10 U.S. firms added to China’s unreliable entity list, blocking trade and investment.
- 15 U.S. firms placed on the export control list, citing threats to national security in sectors like aerospace and defense.
| | | | | | | | | | | | Eastern Sponsors Mini Golf Fundraiser at Mount Prospect Public Library | | Eastern is proud to sponsor the Mini Golf Fundraiser hosted by the Mount Prospect Public Library Foundation (MPPLF). This unique event invites participants to enjoy 18 holes of mini golf throughout the library, complete with a 19th-hole entertainment area. Proceeds support MPPLF’s mission to enhance community learning and cultural enrichment through special library programs and projects.
The fundraiser takes place on Saturday, March 15, 2025, from 10 a.m. to 3 p.m. at the Mount Prospect Main Public Library, 10 S Emerson St., Mount Prospect, IL. Since 1997, MPPLF has worked to raise funds for library programs and projects that are offered to the community free of charge, and would otherwise be unavailable within the regular library budget.
Join Eastern in supporting a great cause—come out and play for a purpose! Read more | | | | | | | | | | | | | | Our mailing address is: One Pierce Place, Suite 460 E, Itasca, IL 60143
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