Duty-Free as Tools of Trade
January 15, 2020.
Trade Publications
What do an MRI machine, a screwdriver, and a laptop have in common? A random assortment of goods for sure, but each of these products, as well as many other items, could be eligible for duty-free importation under the US Customs Provision: Tools of Trade. According to Customs and Border...
Read MoreWhat to Expect for Trade Compliance in 2020
December 17, 2019.
Trade Publications
The world of international trade continues to be in a state of constant change. Here are a few topics that will help shape the international trade landscape in 2020. 1. Regional Comprehensive Economic Partnership: The RCEP is a trade agreement launched in 2012 in Cambodia, that involves 16 Asian countries that together make one...
Read MoreWTO Approves Additional Tariffs on EU Aircraft
December 17, 2019.
Trade Publications
A trade battle that has spanned over a decade, the United States has been given the OK from the World Trade Organization to impose tariffs on European made aircraft. The main target is the aircraft manufacturer Airbus, the biggest competitor of the United States aircraft manufacturer Boeing. The United States...
Read MoreSection 301 Tariff Update
December 16, 2019.
Trade Publications
On December 13th President Trump reduced and suspended tariff changes that were due to take place on December 15th. The other 301 tariff lists are to remain at the current rate that they are in and will not be changed. The list 4b which includes all goods that were...
Read MoreSimplifying Incoterms 2020
December 10, 2019.
Logistics Publications, Trade Publications
International commercial terms (incoterms), are the guidelines for global trade around the world. To provide clarity in the contractual flow, we must understand the incoterms that are being used in the contract between the buyer and the seller for each transaction. Correctly understood incoterms ensure a smoother and effective process....
Read MoreLatest Tariff News
December 05, 2019.
Logistics Publications, Trade Publications
On Monday December 2, President Trump advised that his administration is considering tariffs as high as 100% on French goods in retaliation for a new Tax on digital services, greatly impacting U.S technology companies. The office of the U.S. Trade Representative deemed the tax discriminatory against U.S. companies. The...
Read MoreSection 301 News: Progress on Trade Talks
October 14, 2019.
Trade Publications
After negotiations last, week the U.S. and China have agreed on the first steps to de-escalate the trade war. The results of this talks are the following: Lists 1, 2, and 3 will not increase to 30% on October 15th, 2019 but will stay at 25%. As of right now, list 4B is still...
Read MoreMPF Increase in 2019
October 10, 2019.
Trade Publications
To account for inflation, US Customs and Border Protection (CBP) adjusted certain user fees on October 1, 2019. The minimum merchandise processing fee (MPF) will be increased to $26.79 from $25 and the maximum will be raised to $519.76 from $485. MPF is assessed by CPB for most imports into the US on an ad...
Read MoreA Global HTS Solution
September 12, 2019.
Trade Publications
The World Customs Organization is represented by 183 customs administrations and represents 98% of the world’s trade. When goods are shipped internationally, they must be classified for customs purposes using a Harmonized Tariff Schedule Number (HTS). Each separate product is assigned a classification code and amongst other things, the HTS...
Read MoreIncoterms 2020
September 11, 2019.
Trade Publications
On September 10, 2019 the International Chamber of Commerce launched Incoterms® 2020. Incoterms® rules on the use of domestic and international trade terms and facilite the conduct of global trade. In order to be effective, contracts will have to specify that Incoterms® 2020 are being used. This updated edition of trade...
Read MoreEPA Import Changes
September 09, 2019.
Trade Publications
It is more important than ever for a company to exercise reasonable care and ensure compliance with all Environmental Protection Agency (EPA) importing requirements. Numerous new regulations have been put in place and enforcement of these new regulations has begun. Formaldehyde Emission Standards In December 2016, new formaldehyde emission standards...
Read MoreSection 301 News: Trump Raises Tariffs to 30%
August 27, 2019.
Trade Publications
On August 23rd, President Trump announced that he will continue to increase tariffs on goods from China. Subsequently, the USTR announced that the tariffs currently in place will be raised to 30% effective October 1. As for lists 4A and 4B, they will now be increased to 15% effective Sept 1 and Dec 15...
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