I’m often tasked to speak about some of the trends that I see in global compliance. I’m privileged enough to get to interact on a daily basis with our practice leaders throughout the US, Canada, Europe, Asia, and the South Pacific. This allows for a more global perspective than most. The regulatory landscape is in a state of flux that has been rarely seen during my career, but to narrow it down, here are some of the big hitters that are shaping global compliance.
Topics: Export Consulting, Import Consulting
On February 24, 2016, the president signed into law the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA). Among its key provisions is the very long awaited liberalization of the U.S. Drawback program. Although its official enactment will occur on Feb. 24, 2018 and the regulations governing the new program have yet to be written, summarized below are its key provisions along with commentary by yours truly:
Topics: Duty Drawback
As one of the newest members of the Tradewin team, having joined our South Pacific practice as a Trade Analyst earlier this year, I have been looking forward to writing my first post here on our blog, so here goes!
In July 2015, shortly after the first phase of the pilot for the Australian Trusted Trader Programme (ATT) commenced, my colleague Jess Cordeta introduced our readers to some of the benefits and requirements of participation.
Almost 12 months later, the third phase of the pilot is well underway and the Australian Government has recently announced additional funding for the programme over the next four years. The ATT is set to become operational on the 1st of July, 2016.
Topics: South Pacific
Put a band aid on it, it will be ok. Walk it off, you’re not really hurt and you’re holding up the game.
As a guy who has played hockey most of my life I have heard this many times. Then you wake up the next morning take a look and think “Hmm… That might need stitches”. Sometimes trade programs do not look as good as you thought, too.
Over the years, I have talked to many importers and exporters about the state of their trade programs. Most listen with great interest and agree that their trade program does not get the attention it deserves. I usually ask one simple question: How much of your business relies on trade?
Then there are the excuses for not paying attention to the international movement of your goods. When I was in school, I had plenty of excuses and now in my career I have hear lots of them.
Topics: Free Trade Agreements, Export Consulting, Import Consulting, HS Classification
Does everyone remember Y2K?
The whole world was under the impression that, at the turn of midnight on December 31st, 1999, all our computers would simply stop functioning and we would enter the equivalent of a cyber stone age. I remember vividly sitting on the couch, watching the TV as the ball dropped in Times Square, waiting to see if all the lights were going to go off at any minute.
Alas, the lights stayed on, the computers still worked, and we all moved forward.
EU traders had a similar feeling when May 1st rolled around and the Union Customs Code (UCC) - a union-wide re-write of the customs regulations within Europe - became effective.
