TradeLane

Remember back in your college days, when you had to stay on top of all your financial aid forms?

Remember how your parents would nag you about CSS and FAFSA every year when the submissions were due?

As a current college student and Tradewin intern, I am no stranger to financial aid deadlines and nagging parents – in fact, I’ve got three years of experience under my belt. Although it’s a pain to keep track of all the forms, it is important to make sure they are all filled out correctly and submitted on time. Otherwise, the College Board (or worse, the federal government!) will make life difficult.

Beginning August 1, 2016, the Department of State’s Directorate of Defense Trade Controls is increasing the maximum amounts of the civil monetary penalties it assesses for violations of the of the Arms Export Control Act and the International Traffic in Arms Regulations (ITAR). 

You may have missed it but on February 24, 2016, H.R. 644 became public law. What is H.R. 644 you ask? It is the Trade Facilitation and Trade Enforcement Act of 2015.

Great. More rules. And largely with a focus on CBP, ICE and the GAO. Snooze.

But for importers there really is some awesome news!

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.

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.