Hagerty, Manchin propose $10,000 threshold for Venmo, PayPal tax reporting change (cnbc.com)

The Inform Bill Summary (S. 936 117th Congress; Durbin (D-IL))

This bill requires online marketplaces to collect, verify, and disclose certain information from high-volume, third-party sellers.

High-volume, third-party sellers include online marketplace participants that conduct 200 or more transactions resulting in total revenues of $5,000 or more during a continuous 12-month period. Online marketplaces must acquire these sellers' (1) bank account numbers, (2) government-issued identification, (3) tax identification numbers, and (4) contact information. Online marketplaces must verify this information and annually certify any changes to it.

Further, online marketplaces must make certain information (e.g., sellers' names and contact information) available to consumers through the sellers' product listings and provide consumers with methods to report electronically and by telephone any suspicious activity on the marketplace.

The bill provides the Federal Trade Commission with the authority to enforce these requirements.

USTR Extends Exclusions from China Section 301 Tariffs | United States Trade Representative

LA/LB imports drop double digits; slump predicted through spring (freightwaves.com)

The absence of a West Coast port labor contract is a major factor.  Volumes are down 24% . The Chinese New Year holiday is expected to run Jan 7 through Feb 6 for many companies.

Chart: The Fed Is Moving Historically Fast to Tame Inflation | Statista

Interest Rates were historically low. However, since March the Fed has raised the rate by an unprecedented 425 basis points to counter inflation.  Inflation is too much cash chasing too few goods- an imbalance in supply and demand. 

US Senators Warren, Marshall Introduce Digital Assets Anti-Money Laundering Bill (msn.com)

Biz groups say Biden independent contractor rule clashes with federal law (msn.com)

The Biden proposal requires that contractors be considered employees if they are "economically dependent" upon the company. It would replace a Trump administration rule that allows those who own a business or who work for competing companies to be treated as contractors.  A final decision will be in the Spring. 

Arlington, VA--

Today, EMTC submitted a written statement for the record concerning the topics covered in the hearing on “Opportunities and Challenges for Trade Policy in the Digital Economy” held on November 30, 2022.

EMTC emphasized the importance of Senate Finance Subcommittee to create a framework to integrate equal treatment of physical and digital goods.

Putting Workers’ Voices First (flexassociation.org)

EMTC is a platform for e-commerce. We focus primarily on cross border trade, tax and transportation, but we work with others in the e-commerce ecosystem on issues that could impact our members and friends of the association. 

Six Logistics Trends to Watch for in 2023 | SupplyChainBrain

Watch for more M&A, outsourcing and increased use of technology. EMTC expects use of AI/ML use to accelerate across all of e-commerce