It has been almost one year since the industry filed its first reconciliation entry in ACE. While there have been many hurdles and many successes, we thought that we would share our top 5 lessons of what we have learned so far.
Travis Fournier
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Customs has announced that the reconciliation prototype will finally transition from ACS to ACE on February 24th of 2018.
After a few rounds of delayed implementation dates, the ports are actively liquidating Reconciliation filings to clean up before the deployment. We think the switch to ACE might actually happen this time.
There are some major changes that are coming to the program that the importing community should be aware of.
Topics: Reconciliation
Customs has announced that the reconciliation prototype will finally transition from ACS to ACE on July 8th of 2017.
There are some major changes to the program, most of which benefit the importer.
For example, the original value, duties, and fees will no longer need to be reported. This will save a considerable amount of time which was previously spent trying to get an exact match in the filing system. These figures will automatically populate after the ACE go-live.
Topics: Reconciliation
Recently the United States Trade Representative released the full text of the Trans-Pacific Partnership (TPP).
Many news articles have been covering the TPP concerns revolving around intellectual property, environment concerns and the loss of jobs. All for good reason. With the introduction of NAFTA, these are some of the issues that came to the forefront of the national conversation regarding free trade. These issues are definitely addressed in the agreement where collective bargaining rights and “acceptable conditions of work with respect to minimum wages” are demanded. However, in the words of the infamous Mike Tyson – everyone has a plan until they get punched in the face.
But, what does this mean for the international trade community and tariff rates? Let’s jump right to the good stuff and focus on some of the largest duty rates to be eliminated.
Topics: Reconciliation, Free Trade Agreements
