TradeLane

As anyone working in the logistics and shipping industry knows, the major barriers to importing goods into the United States include duties, taxes, tariffs, and complying with certain government regulations. Luckily, there are ways that businesses can overcome these obstacles and stay competitive and compliant in the global marketplace.

Well, it’s that time again, and no, I don’t mean Football Season. For those of you new to the CBLE testing game and for others who are well familiar with the joys and rigors of this exam, the next CBLE will take place on Wednesday, October 26, 2022. Registration is now open and will close on September 26, 2022. ALL individuals must register for the exam through an online CBP broker examination registration portal.

The Regional Comprehensive Economic Partnership (“RCEP”) was signed on 15 November 2020 and entered into force on 1 January 2022 for ten countries: Australia, New Zealand, Brunei Darussalam, Cambodia, China*, Japan, Laos, Singapore, Thailand and Vietnam. It was subsequently entered into force for the Republic of Korea on 1 February 2022 and Malaysia on 18 March 2022, and most recently ratified by Indonesia on 30 August 2022. RCEP is one of the largest free trade agreements (“FTA”), covering around one-third of the world’s population and accounting for about one-third of global GDP.

*Note that Hong Kong, China (“Hong Kong”) is a separate customs territory from the People’s Republic of China (“China”).

As with most questions in the Trade Compliance space, the answer to this question can be nuanced and significantly impact an importer’s compliance risk, and the landed cost of the goods.

Importers who use Foreign Trade Zone (FTZ) sites to store regulated hydrofluorocarbons (HFCs) may be interested to learn the EPA has clarified that HFCs will be treated the same whether the cargo is entering/exiting an FTZ or if a consumption entry is being filed.^[1] The HFC Phasedown went into effect November 2021.