March 31, 2025 – With a range of tariffs to be implemented on Wednesday by the U.S., shippers will need to make some hard choices – and likely pay some “hard dollars.” The tariffs are set to be paid by U.S. importers, those established as an ‘importer of record’ and able to open a payment account with U.S. Customs & Border Protection (CBP). Although our Canadian customer are not directly having to pay these tariffs, the impact will still be felt by the US Customer. The ramifications of the new trade barriers will only be discovered once shippers have made some choices, said James Hookham, director of Global Shippers Forum. “The real impact on trade and economies will come from the way that U.S. importers respond to this additional cost. Do they ‘pay and absorb’, and take a hit on profits, and their share price? “Do they ‘pay and inflate’ – pass the cost on in higher retail prices and probably lose market share to home-produced products? “Or do non-U.S. manufacturers look to reduce their export price and effectively pay the tariff themselves, but at least maintain their current prices in the U.S. market? We call that ‘pay and squeeze’.” There are other options – but not quick ones, and the benefits could change overnight depending on Canadian retaliatory tariffs.
March 27, 2025 – When the Canada Border Services Agency (CBSA) Assessment and Revenue Management (CARM) system was launched externally on October 21, 2024, a 180-day transition period was introduced to grant commercial importers additional time to post their financial security electronically while benefitting from the Release Prior to Payment (RPP) Program. In response to feedback received from stakeholders, the CBSA will grant a 30-day extension to the transition period. Importers will now have until 3:00 am EDT on May 20, 2025, to post their financial security in the CARM system. Importers who do not post financial security in CARM by May 20 will no longer be able to benefit from having their goods released electronically at the border prior to making payment of the duties and taxes. Without RPP, importers will have to pay all duties and taxes before goods can be released.
March 24, 2025 – Quebec’s Ministry of Transport and Sustainable Mobility announced on March 20 dates of the thaw period for zones 1 and 2. For those two areas of central and southern Quebec, load restrictions due to thaw will apply from Monday, March 24 to Friday, May 23. The target dates for Zone 3 have been pushed back. The thaw period is now expected to run from March 31 to May 30.
March 10, 2025 – The containership SM Portland, operated by SM Line, lost 115 containers due to severe weather while sailing through the Bering Sea on March 4. Strong winds caused the 4,228-TEU vessel to roll heavily, leading to the loss, collapse, and damage of its cargo. The ship is now scheduled to arrive in Vancouver on March 10, where it will undergo inspection before offloading its cargo. Canaan Transport will be advising any affected customers to confirm if their goods were impacted.
March 6, 2025 – The White House announced Thursday afternoon that it will suspend tariffs on all imports that are compliant with the Canada-United States-Mexico Agreement until April 2. The pause, which was extended to imports from Mexico that adhered to the agreement earlier Thursday, will now also cover goods from Canada that meet the trade deal’s requirements. The move builds on Wednesday’s exemption for car imports from either country. Roughly half of Mexico imports to the U.S. are CUSMA compliant, while nearly 40% of those from Canada are, CNBC reported, citing a White House official. The U.S. is preparing to enact a universal reciprocal tariff policy on April 2, the day the pause ends.
March 5, 2025 – The following is the updated list of products that will be subject to tariffs when entering Canada from the US. https://www.canada.ca/en/department-finance/news/2025/03/list-of-products-from-the-united-states-subject-to-25-per-cent-tariffs-effective-march-4-2025.html
March 4, 2025 – The US government has now imposed a 25% tariff tax on virtually all goods from Canada and Mexico effective today. The Canadian government is expected to retaliate with its own tariffs on US imports. More news as it develops.
February 24, 2025 – Container spot freight rates on the major east-west liner trades experienced another week of decline, as slack demand continued to depress pricing. The Drewry’s World Container Index’s (WCI) composite global rate showed a week-on-week decline of 10%, to $2,795 per 40ft, dragging overall rates down to a level last seen in April last year. It was a bad week for transpacific carriers, which saw spot rates to both the U.S. east and west coasts decline by double-digit amounts and, for the first time in months, steeper falls than on Asia-Europe routes. The WCI’s reading for Shanghai-Los Angeles saw a week-on-week decline of 11%, to $3,888 per 40ft, while the Shanghai-New York leg fell 13%, to $5,126 per 40ft, with one source in China suggesting carriers are increasingly competing for cargo on the routes, leading to the spot rate price-cutting. The WCI spot rate on the headhaul Rotterdam-New York leg also fell week on week, by 3%, to $2,394 per 40ft.
February 3, 2025 – After a series of calls on Monday afternoon, the proposed tariffs of both the US and Canadian governments have been put on hold for the next 30 days. The proposed tariffs were slated to come into effect tonight. We will continue to monitor the situation and provide updates when they are available.
February 2, 2025 – Effective February 4, the Government of Canada is imposing 25 percent tariffs on $30 billion in goods imported from the United States. These tariffs apply only to goods originating from the U.S., which shall be considered as those goods eligible to be marked as a good of the U.S. in accordance with the Determination of Country of Origin for the Purposes of Marking Goods (CUSMA Countries) Regulations. These countermeasures are effective immediately and will remain in place until the U.S. eliminates its tariffs against Canada. Canada’s countermeasures do not apply to U.S. goods that are in transit to Canada on the day on which they come into force. Additional details on the administration of these tariffs are available on the Canada Border Services Agency website: https://www.canada.ca/en/department-finance/news/2025/02/list-of-products-from-the-united-states-subject-to-25-per-cent-tariffs-effective-february-4-2025.html