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November 6, 2012 New York-Newark Terminals Open After Hurricane Sandy On November 4, 2012, the Port Authority of New York and New Jersey issued a press release informing the public that the Elizabeth Port opened for business on this day, and that both the Port Newark and Global Terminal would be open on the morning November 5, while Port Newark Container Terminal would resume operations at night. The port was closed last week as a result of Hurricane Sandy, which caused damage to electrical systems, shipping containers, roads and railways.
East Coast Symposium Trade Rescheduled On November 2, 2012, U.S. Customs and Border Protection (CBP) posted a notice on their website announcing that the East Coast Trade Symposium 2012 has been rescheduled for November 27-28. On their website, CBP notes that all registration fees will be reimbursed within 14 days. Priority will be given to attendees who are already registered. Information on the new location and registration process will be posted soon. The notice is available on the CBP link below:
EU Announces Revised GSP for Developing Countries On October 31, 2012, the European Union (EU) issued a press release announcing a revised import preference system, known as the Generalized Scheme of Preferences (GSP) for developing countries, which is scheduled to become effective on January 1, 2014. The decision was announced after it was supported by both the Council and the European Parliament, and it includes reduced or zero tariff rates, and benefits for developing countries. The press release explains that "The new scheme will be focused on fewer beneficiaries (89 countries) to ensure more impact on countries most in need. At the same time, more support will be provided to countries which are serious about implementing international human rights, labor rights and environment and good governance conventions." The beneficiary countries under the GSP are divided into two parts - the Everything But Arms scheme, which contains 49 countries, and the Lower-Middle Income Partners group, which has 40 countries. The product coverage on the current GSP is of 66% of tariff lines will be increased in order to incorporate a wider though limited expansion in products and preference margins, which focuses mostly on raw materials. The effective date of January 1, 2014 was set up to provide a longer transition period for the implementation of the new GSP. The full text of the press release is available online at:
USTR Announces Progress Under The Trade & Investment Partnership With East African Community On October 19, 2012, the Office of the U.S. Trade Representative (USTR) issued a press release including a statement by the East African Community (EAC), which outlines the progress by the U.S.-EAC Trade and Investment Partnership, an initiative intended to support economic integration between the two regions. The press release explains that "This new Partnership is built on the recognition of the important role that trade and investment play in economic and social development including job creation, both in East Africa and the United States." Some of the items listed by the release which have been agreed upon in the initiative include: According to the press release, the U.S. and the EAC have agreed on a framework to create the Commercial Dialogue, which will be officially launched on November, 2012. The full text of the press release is available online at:
Tons News, for current and past issues of Tons News by E-mail request from tonsnews@tonslogistics.com or call (310) 338-0337. ________________________________________ Tons News is compiled from a number of public sources that, to the best of Tons knowledge, are true and correct. It is our intent to present only accurate information. However, in the event any information contained herein is erroneous, Tons accepts no liability or responsibility.
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