August 15, 2019 Facebook  Instagram  Twitter  LinkedIn
TGA Industry News Briefs
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TOP NEWS

Be Top of Mind at the Right Time

TGA

Timing is everything. And there’s no better time than the present, for reaching industry decision makers who can help grow your business. The ad placement deadline for Travel Goods Showcase is this coming Monday, August 19 – and there are still prime booth locations available for The Travel Goods Show in New Orleans March 4-5, 2020. There are still special promo deals available for Showcase ads, which reach retailers just before the holiday selling season gets underway. Discover how Travel Goods Showcase and The Travel Goods Show deliver an unbeatable 1-2 sales punch – contact Cathy Trecartin for details: cat@travel-goods.org, 877-842-1938, x-702.

China Tariffs: Tranche 3 Exclusion Process Now Open, First Travel Goods Petitions Rejected as # of Petitions Grow, Process Closes September 30

TGA

On June 30, the U.S. government opened the portal to request exclusions (details, web portal) from Tranche 3 tariffs, including the 25% tariffs on travel goods. As of August 14, 20 companies have filed a combined 81 petitions requesting exclusions for certain types of travel goods (out of a total 6,852 petitions filed to date). Please go to the TGA/AAFA July 2 webinar on the exclusion process for more details (letter to USTR, webinar recording).There will be a 14-day period, once a petition is live on the portal, during which the public can file a response (in opposition or in support). That means your company can file responses in support. For example, some travel goods petitions were filed on August 14, which means the 14-day response period for those petitions closes August 28. On August 2, the Office of the U.S. Trade Representative (USTR) announced that it had granted exclusions for 15 petitions; none were in the travel goods space. USTR has also denied 94 petitions to date, including 12 in the travel goods space. None of the denied petitions had responses in support of the petition. Regrettably, two of them were denied even though there was no opposition. Further, many were denied not because there was U.S. production but because of production in another third country, which appears to undermine the stated purpose of the exclusion process. Nevertheless, TGA strongly encourages interested companies to continue to file their own petitions and/or SUPPORT existing petitions by filing responses in support of the petitions we file. The deadline to file petitions is September 30.

China Tariffs: Trump Announces Details of Tranche 4 Tariffs – Industry Hit Again on Luggage Locks, Travel Clocks, Watches but Some Tariffs Delayed Until December 15

TGA

On Tuesday, the Office of the U.S. Trade Representative announced details on the next tranche of punitive tariffs against U.S. imports from China. According to the announcement, U.S. imports of luggage locks from China entering the U.S. on or after December 15, 2019 will be subject to a 10% punitive tariff. U.S. imports of travel clocks and watches from China, depending on the type of clock or watch, will either be hit with 10% punitive tariffs either on September 1 or December 15, 2019.

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Stocks Are Plunging as Traders Brace for a German Recession and Global Turmoil as U.S.-China Trade War Continues

BUSINESS INSIDER

European equities and U.S. futures dropped late last week, fueled by rising fears of a German recession and worrisome developments across Hong Kong, Italy, and Argentina. Asian markets rallied earlier on renewed hopes for an end to the U.S.-China trade war. Moreover, Chinese industrial output rose by an estimated 4.8% in July – its slowest growth rate since February 2002, according to Reuters. READ MORE

New Guidance on Travel with Service Animals is a Step Forward, But More Can Be Done

THE HILL

Secretary of Transportation Elaine Chao took an important step last week in protecting the rights of airline customers and trained service animals that accompany them when they travel. This is good news, and we thank Secretary Chao for addressing this important issue. Passengers, crews and legitimate service animals are all negatively impacted by animals that are not trained for service or for the stresses of travel. READ MORE


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IHL Study: Five Retailers Opening Stores for Every Retailer Closing Stores

CHAIN STORE AGE

A new report looks to debunk the ongoing retail apocalypse narrative. More than five retail chains are opening stores for every retailer that is closing stores in 2019, according to research from IHL Group, which is up from 3.7 in 2018. The company also reports that the number of chains adding stores in 2019 has increased 56%, while the number of closing stores has decreased by 66% in the last year. READ MORE

Study Finds That Female Leadership Affects Wage-Gap and Firm Performance

PHYS ORG

A new paper in The Economic Journal finds that female executives decrease the wage-gap for women at the top of a firm while widening it at the bottom. This study also finds that the lack of women at the executive level has a negative impact on firm performance, especially in conditions with a greater share of female workers. The researchers suggest that if all firms with at least 20% of female workers were led by female CEOs, they could see their sales per worker increase by 14%. READ MORE

The Coolest Amenities You Can Get When Flying Economy

TRAVEL + LEISURE

Flying economy doesn't have to mean missing out on perks that can make the experience all the more comfortable and memorable. To help travelers get the most of their economy experience, we've pulled together some of the coolest amenities to take advantage of, most of which are complimentary. READ MORE

Macy’s Turnaround Hits Harsh Retail Reality

THE WALL STREET JOURNAL

In a troubling sign heading into the key back-to-school and holiday seasons, Macy’s said inventories of unsold items swelled in the summer quarter. At the same time, the company and its rivals face the prospect of tariffs on some Chinese apparel imports starting next month. READ MORE

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