Corona Virus and Its Impact on Global Trade
The article in today’s Bloomberg.com spells out the challenges being faced by U.S. importers as the full brunt of the impact of the Corona Virus on the manufacturing output of China is starting to be felt. Many cargo ship sailings have been cancelled and the news through today has not been good regarding the full restoration of the global supply chain.
Importers should communicate with their suppliers to find out an accurate assessment of their supply chain and should work closely with their freight handling agent and Customs Broker to stay up to date on the overall picture. I expect that the ripple effects of the virus will be felt in the global supply chain for the coming weeks and could possibly extend into the late Spring.
The article can be found here - https://www.bloomberg.com/news/articles/2020-02-15/ships-are-skipping-china-and-it-s-causing-turmoil-for-trade?cmpid=BBD021720_TRADE&utm_medium=email&utm_source=newsletter&utm_term=200217&utm_campaign=trade
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