Keep pulling the thread on Ryan Petersen.
Ryan Petersen alleges that Amazon has become the number one freight forwarding company on the Trans-Pacific trade route from Asia to the United States.
Ryan Petersen alleges that Amazon's growth to become the top Trans-Pacific freight forwarder is driven by widespread customs fraud from its third-party merchants under-declaring the value of goods.
The United States and the United Kingdom are the only two countries that allow foreign companies to import goods directly without establishing a local legal entity.
Chinese government export data for a recent year showed a value $112 billion higher than the value of the same goods declared to the U.S. government upon import.
The $112 billion in under-declared goods from China results in an estimated loss of $35 billion in annual tariff revenue for the U.S. government.
Since December 2023, container shipping has largely avoided the Red Sea and Suez Canal due to attacks by the Houthi organization in Yemen.
The rerouting of ships around Africa to avoid the Red Sea has increased ocean freight prices by an estimated 50% to 60% above what they would have otherwise been.
Approximately 20% of the world's oil supply flows through the Strait of Hormuz.
Qatar, which ships through the Strait of Hormuz, produces 30% of the world's helium supply, a critical component for semiconductor manufacturing and SpaceX rockets.
The United States is currently the world's largest exporter of oil and has been hitting all-time export highs weekly since March 1st.
Ryan Petersen predicts that the global economy will shrink if 20% of the world's oil supply is taken offline due to a closure of the Strait of Hormuz.
Approximately 90% of global trade is conducted on FOB (free on board) terms, where the seller's responsibility ends once goods are loaded at the port of origin.