US Customs and Border Protection (CBP) issued ruling H290535 on September 29th, 2022, which specifies that CBP interprets suppliers providing HTS Classifications to US Importers of Record as “transacting customs business” and requiring a customs brokerage license.
Topics: North America, HS Classification
The last several years have shown a spotlight across organizations on the importance of investing in and maintaining a sound trade compliance program. From additional tariffs on Chinese-origin products, to ever-expanding sanctions resulting from the conflict between Russia and Ukraine, to regulatory and procedural changes worldwide, companies continue to invest in their compliance operations to manage their risk and pursue duty savings opportunities.
Topics: About us
A Welcome Back to Trade Compliance Professionals!
Topics: Export Consulting, Import Consulting, North America
On January 1, 2022, the Regional Comprehensive Economic Partnership (RCEP) came into force. RCEP members have a total population of 2.27 billion, a Gross Domestic Product (GDP) of 26 trillion US dollars, and a total export value of 5.2 trillion US dollars, accounting for about 30% of the global economy. After RCEP takes effect, more than 90% of the trade in goods among RCEP members will finally achieve 0% tariff.
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.
Topics: Duty Drawback, North America
