TradeLane

I have come to quite enjoy the ‘Full English’ breakfast since moving to London last year. Packed with all the day’s calories and none of its nutrition, the full plate of eggs, bacon, hash browns, beans, and tomato has become a weekend favourite.

My breakfast on June 24^th was a much more sensible choice of coffee and toast. However, it was made memorable by the Referendum results in Britain over whether or not we should stay in the European Union.

With all votes tallied, the United Kingdom had decided by referendum to leave the EU.

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.

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:

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 1^st of July, 2016.

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.