Mixed Statistics in March for LA/Long Beach Port
This March, volume at the Port of Los Angeles increased by 34% while Long Beach experienced a 2% decline compared to the same month last year. Long Beach attributes its declining numbers to the “cold winter spell in the Midwest and East Coast,” which caused suspended services. At the same time, Los Angeles points to Chinese New Year as the reason for its increase.
Read more from the Daily Bulletin
Expanded Partnership for Ex-Im Bank and Minority Agency
The Export-Import Bank of the United States and the Minority Business Development Agency (MBDA) released news of their expanding partnership earlier this week. In hopes of expanding access to foreign markets, this program will allow eligible businesses to access a 6 or 12 month revolving credit line of up to $500,000. According to the bank, 1 in 5 Ex-Im Bank transactions have “directly benefited minority-owned or woman-owned small businesses.’”
Read more from the Ex-Im Bank
Chinese Garlic Dumping Case
The U.S. Customs & Border Protection (CBP) has investigated and stopped Jinxiang Hejia Co. from importing thousands of pounds of garlic. Over the course of more than a year, the company brought in 60 million pounds into the United States. Jinxiang Hejia was using its “new shipper review” status to import other companies’ garlic at duty-free or reduced duty rates, avoiding a nearly 376% duty rate for standard Chinese garlic imports.
Read more form Produce News
