In the QAD Precision News Round-Up: 4 June 2021, UK and Australia
seek trade deal by mid-June; Euro zone inflation surges in May; US
sets and suspends tariffs on six countries; FedEx expands e-commerce
delivery; plus multi-carrier shipping for 3PLs and more.
UK AND AUSTRALIA SEEK TRADE DEAL BY MID-JUNE
Following another round of negotiations, the British envoy announced
on Thursday that the United Kingdom and Australia are seeking to reach
a trade deal by the middle of June. Both nations have said that they
are in agreement on most of the issues for a deal, which, according to
official estimates, could add £500 million ($708.4 million) to British
economic output over the long term. The proposed deal will assist the
United Kingdom in building stronger commercial and diplomatic
relations in the Indo-Pacific region and is the most advanced of
several deals being sought by London. For more details, please see Reuters.
EURO ZONE INFLATION SURGES IN MAY
In May, inflation in the Euro zone surged past the European Central
Bank’s target. On Tuesday, data from Eurostat showed inflation in the
19 countries sharing the euro increased to 2 percent in May from 1.6
percent the previous month. The surge, driven by higher energy costs,
was higher than the ECB’s below 2 percent target and was the highest
level seen in almost three years. Furthermore, the result was also
above predictions for 1.9 percent in a Reuters poll. The estimated
inflation could be closer to 2.5 percent in late 2021 as the rebound
from a double-dip recession caused by the pandemic and recent
commodity price increases add to price pressures. For more
information, please see Reuters.
US SETS AND SUSPENDS $2 BILLION TARIFFS ON SIX COUNTRIES
On Wednesday, the US announced 25 percent tariffs on over $2 billion
worth of imports from six nations over their digital services taxes.
However, it quickly suspended the duties to allow international tax
negotiations to continue. The office of the US Trade Representative
(USTR) approved the threatened tariffs on goods from Britain, Italy,
Spain, Turkey, India and Austria. The six countries will face tariffs
if international tax negotiations cannot reach a solution that
prevents countries from imposing unilateral digital services taxes.
The USTR official said the tariffs aim to equal the amount of digital
taxes collected from US firms. For more details, please see RTE
FEDEX EXPANDS E-COMMERCE DELIVERY SERVICES ACROSS EUROPE
FedEx has announced that it is expanding its day-definite e-commerce
delivery service following the success of FedEx International Connect
Plus (FICP) in January. The service is now available in Germany,
France, Spain, Italy, Poland, Austria, Sweden, Belgium, the
Netherlands and the United Kingdom. The expansion of its European
e-commerce capabilities is a key part of FedEx’s European growth
strategy. FICP will allow e-commerce businesses to offer an
additional, cost-effective shipping option to their customers.
Furthermore, online businesses will be able to reach consumers in
Europe in 2-4 days, North America in 3 days and Asia-Pacific in 3-5
days. For more details, please see FedEx.
DHL SUPPLY CHAIN TO USE 2,000 ROBOTS BY 2022
DHL Supply Chain has announced that it is expanding its partnership
with Locus Robotics, enhancing DHL’s wider Accelerated Digitization Strategy.
The company plans to take on approximately 2,000 assisted picking
robots by 2022, which will help with picking and inventory
replenishment. The robots will help to reduce time spent moving
pushcars through warehouses, reduce physical strain on employees and
improve picking efficiency. Markus Voss, Global CIO & COO DHL
Supply Chain said the company currently uses over 500 assisted picking
robots in its warehouses in the US, EU and UK. For more information,
please see Post
QAD Precision News
3 MINUTE EXPLAINER: MULTI CARRIER SHIPPING SOFTWARE AND 3PLS
Shopping has changed — and with it, so has logistics. The global
pandemic resulted in skyrocketing online orders. While this was an
unprecedented event, online shopping has been exponentially growing
Last year, retail shoppers spent over $4 trillion online. Forecasts
suggest that by 2022, more than $5 trillion will be spent on online
All this activity means that third party logistics providers are
shipping more small parcels to more destinations than ever before. As
a result, a 3PL with systems designed to manage large orders of
freight will need a way to manage parcel shipments. In this 3 Minute
Explainer, we look at how multi carrier shipping software benefits
logistics service providers. To read the full report, please click here.