It’s been an extraordinary year in international trade. Higher duties, more complex supply chains driven by trade actions, and a pandemic that has left many businesses understaffed in important areas.
As we continue to see challenges in the news with international trade, I must remind you that along with the darkness, there is some light for importers. While the United States Section 301 China duties remain in place, the US Trade Representative has published more than 40 exclusion lists, impacting the vast majority of both large and small importers.
Topics: Duty Drawback, HS Classification
As many of our readers are aware, on April 19th, 2020, US Customs and Border Protection (CBP) announced the postponement of duties for formal entries of merchandise entered, or withdrawn from a warehouse for consumption in March and April 2020 for importers experiencing significant financial hardship due to COVID-19.
Topics: Duty Drawback, North America
After what seemed like a relatively calm few weeks in International Trade (relatively speaking), the winds have suddenly picked up, catching many off guard this morning and wondering if we were simply in the eye of the storm all this time. So, what happened?
Topics: Duty Drawback, North America, HS Classification
The dynamics of trade are changing.
Perhaps this is nothing new, trade has always evolved and changed, but I think we would be hard pressed to find an instance in modern peacetime when trade has been asked to adapt so quickly. TPP, Brexit, NAFTA, and steel tariffs, which would have been the biggest stories just months ago, are now muffled background noise to the rhetoric of a Trade War between two of the world’s most important economies.
Topics: Duty Drawback, Asia, Free Trade Agreements, North America
