TradeLane

On 26 January 2023, the Philippine Strategic Trade Management Office (STMO) issued an announcement (Announcement No. 2023-001) to exporters emphasizing the need to properly classify their goods under the National Strategic Goods List (NSGL) prior to registration with the STMO. 

The Executive Assistant Commissioner of U.S. Customs and Border Protection (‘CBP’) recently wrote that Fiscal Year 2023 would see CBP placing greater focus on the issue of trade-based money laundering (‘TBML’). CTPAT members should make note of this, as there are CTPAT Minimum Security Criteria that address TBML.

It has been two years since the implementation of the United States – Mexico – Canada Free Trade Agreement. For those of you reading this outside of the US, the agreement is referred to in Canada as the Canada – United States – Mexico Agreement (CUSMA); and in Mexico, this agreement is referred to as Tratado entre México, Estados Unidos y Canadá (T-MEC). All three names refer to the same trade agreement.

If you are involved in the exportation of goods from the United States, you are most likely familiar with the term Routed Transaction and all that it entails – which up to this point, has been a whole lot of confusion and misunderstanding.

In early October this year, the Jakarta Post in Indonesia reported that after 35 days and intervention from the Ombudsman and several other government institutions, some imported fruits and horticultural products worth about $1.9 million USD detained by the Agricultural Ministry were finally released.