Weekly Freight Report: August 7, 2026
There is real money sitting on the table this week, and a growing market for importers who do not want to wait for it. Companies owed IEEPA tariff refunds are selling those claims for cash, some at steep discounts. Commerce also proposed pulling 14 more product categories into the metal tariffs, with comments due August 27, and a Taiwanese manufacturer paid $5.15 million for calling Chinese LEDs Taiwanese. On the water, a deal to reopen the Strait of Hormuz is being negotiated while transits sit near record lows, transpacific rates are holding at peak, and diesel climbed for a fourth straight week. Here is what moved and what it means for your cost per shipment.
Importers Are Selling Their Tariff Refund Claims for Cash
A secondary market has formed around IEEPA tariff refunds, and the discounts are steep. American Eagle Outfitters sold $68.9 million in refund claims for $18.6 million in cash, roughly 27 cents on the dollar, against about $190 million in total refunds it has applied for. The Children’s Place sold $38.2 million in claims to Alnus Investors for about $25.7 million, closer to 67 cents. Before the Supreme Court struck the tariffs down in February, claims traded at 30 to 40 cents on the dollar; after the ruling they moved to around 60 cents. The deals are not always clean, either, with Oaktree Capital suing BJ’s Wholesale Club in April over a failed purchase of a $29 million claim. If you paid IEEPA duties, the question is whether you need the cash now or can wait for CBP to process the refund at full value.
Commerce Proposes Adding 14 Product Categories to the Metal Tariffs
The Commerce Department proposed extending Section 232 steel, aluminum and copper duties to 14 more categories of derivative products, aimed at goods that are mostly metal by weight and at stopping circumvention of the primary metal tariffs. The list runs from brass wind instruments and floor safes to tanker trailers, semi-trailers and steel containers holding liquefied propane, oxygen and propene. Most covered goods would carry 25%, with 15% on self-loading agricultural trailers and 50% on steel containers, applied to the container rather than the contents. Self-propelled cranes, mobile lifting frames and straddle carriers would vary by country of origin. Combines and harvesters actually come down to 15% from the 25% set in April. Public comments are due August 27, so check your HTS codes against the proposed list now.
Taiwan LED Maker Pays $5.15 Million Over Falsified Country of Origin
Everlight Electronics and its Texas subsidiary Everlight Americas agreed to pay $5.15 million to settle claims that they labeled Chinese-made LEDs as Taiwanese to avoid Section 301 duties. The government alleged the companies transshipped product through Taiwan and failed to segregate Chinese components from Taiwanese ones during manufacturing, from July 2018 into 2022. The settlement lands alongside the Justice Department’s trade fraud task force, formed in August 2025, which has now collected more than $1 billion in its first year across recoveries, penalties and forfeitures. Earlier settlements include $549.5 million from Perfectus Aluminum and $54 million from Ceratizit USA. The task force targets importers, brokers, distributors and end users alike, so origin documentation is worth a hard look.
Hormuz Reopening Hinges on an Iran-Oman Agreement
Only eight vessels crossed the Strait of Hormuz on August 5, five tankers and three bulk carriers, against roughly 100 daily transits before the conflict. A proposed 60-day reopening framework would route inbound vessels near Iranian waters and outbound traffic through Omani-side passages, with no transit or service fees and possible regional help on mine clearing. About 20% of global crude moves through this waterway, so the blockade has been lifting fuel costs worldwide. Even if a deal lands, normal tanker, LNG and container flows would need several consecutive weeks of incident-free transits, clear routing protocols and credible mine clearance before shipowners return. Worth noting that more than half of tracked movements lack reliable identification signals, so real activity may be higher than the visible count.
Transpacific Rates Hold at Peak as the Season Runs Long
Peak season on the transpacific is lasting longer than expected. Asia to US East Coast spot rates have held around $9,012 per FEU since early July, and West Coast rates climbed back above $7,000 per FEU on August 1. Three things are holding them up. Section 122 duties were replaced immediately by Section 301 tariffs of 10% to 12.5% on more than 60 trade partners, roughly even with the expiring rates, which gives importers enough stability to keep ordering. Inventories are tighter than expected. And congestion at Shanghai following typhoons is severe enough that some carriers are skipping calls there. Expect elevated rates to persist longer than a typical peak.
Diesel Benchmark Rises a Fourth Straight Week to $5.348
The DOE and EIA benchmark reached $5.348 per gallon in the reading published August 4, up 3.5 cents on the week and 77 cents across four consecutive weekly increases. What makes this week unusual is the direction of the futures market. On reports that a Hormuz reopening deal was close, the ULSD contract on CME fell 3.68%, then 2.09%, then 5.93% over three sessions, settling Monday at $3.8772 per gallon, its lowest since July 13 and well down from $4.3416 on July 23. Retail moves on a lag, so the pump has kept climbing while the paper market sold off. Your fuel surcharges are pegged to the retail benchmark, not the futures screen.
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