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In the intricate world of global trade, few tools offer importers the relief from complexity that reconciliation does. The concept may seem simple: import goods now and update the details later. But as anyone in compliance knows, the real challenge lies in the execution. This is where Tradewin steps in, offering a reassuring hand in navigating the complexities of reconciliation.

Watch the video below to learn more about reconciliation and how Tradewin assists you through this process.

The Office of the US Trade Representative (USTR) recently released a Memorandum outlining actions to be taken in response to the statutory 4-Year Review of the Section 301 Investigation of China’s Acts, Policies, and Practices Related to Technology Transfer, Intellectual Property, and Innovation (Section 301 Investigation).  The review looked at the effectiveness of eliminating China’s technology transfer-related acts, policies, and practices and the overall effects of the tariff actions on the U.S. economy. Based on this review, modifications to the actions have been proposed.

Since 1993, Reconciliation entries have been a pivotal tool for US importers to simply and expediently make changes to certain elements of an import entry. While some very, very limited classification and 9802 changes can be made using reconciliation filings, the vast majority of adjustments are for value changes after importation or retroactively claiming a free trade agreement like USMCA and 9802. 

On January 27^th, Tradewin published our ‘Reconciliation Step by Step’ guide. For those interested, a copy is available for download below:

For those of you who have been involved in Customs Entry Reconciliation, you know how complex the program can be.  We are excited to see that CBP will be hosting a webinar that will cover reconciliation fundamentals and provide insight into the various issues the trade community and CBP Centers of Excellence and Expertise (Centers) experience when filing and processing reconciliation entry summaries.  This information was presented to the Trade community on April 11, 2022, in Cargo Systems Messaging Service (CSMS) #51568660.