Afternoon Coffee: China hits U.S. with new tariffs; Boeing to resume producing 737s; Uber Freight forecasts triple-digit growth

Melpomene/Adobe Stock

Soybeans, oil and cars are the latest product victims as part of China’s $75 billion in retaliatory tariffs on U.S. goods, to take effect Sept. 1 and Dec. 15, respectively, according to a Bloomberg article. “An extra 5% tariff will be put on American soybeans and crude-oil imports starting next month,” according to the article. “The resumption of a suspended extra 25% duty on U.S. cars will resume Dec. 15, with another 10% on top for some vehicles.”

“With existing general duties on autos taken into account, the total tariff charged on U.S. made cars would be as high as 50%,” the article stated.

Boeing will resume production of 737 in February 2020

Reuters reports that Boeing Co. had notified suppliers it would re-start production of its best-selling 737 jets at a rate of 52 aircraft per month in February 2020, and then ramp up production to 57 jets monthly in June.

Levi Strauss initiates social responsibility steps in its supply chains

Fashion giant Levi Strauss Co. has initiated two supply chain initiatives. The first will protect female supply chain workers, and the second is centered around water stewardship.

Trucking groups want lawmakers to reject crash score proposal

Trucking and third-party logistics companies want Senate lawmakers not to consider a proposal by their colleagues in the House chamber to make crash safety scores public. The American Trucking Associations, the Owner-Operator Independent Drivers Association and the Transportation Intermediaries Association warned it would be “a step backwards for safety,” according to Freight Waves.

Triple-digit growth completely feasible, says Uber Freight chief

In the middle of aggressive expansion across the U.S. and Europe, the chief of Uber’s trucking arm has predicted that sustaining triple-digit revenue growth was completely possible. Lior Ron told Yahoo Finance’s ‘The Ticker’ that Uber Freight was still in the early stages of tackling a trucking industry that is “driving the economy of the United States.”

Never miss out on Spend Matters news — sign up for our newsletter!

Share on Procurious

Discuss this:

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.