What if I told you classifying an airplane was like classifying the parts of the human body. Don’t worry, you don’t have to be an anatomist to be able to classify an airplane, but the intricacies do draw some parallels. The human body is made up of organs, tissue, muscles, bones, tendons, etc., whereas an airplane is made up of panels, motors, computers, seats, bolts and screws, and thousands of other parts.
Topics: HS Classification
With global trade tensions continuing the same course, despite a global pandemic, we have come across many multinational corporations looking to reinforce their supply chains by relocating some manufacturing to Southeast Asia. Along with Vietnam and Thailand, Malaysia is a frequent candidate. Here are some things to consider when looking at Malaysia.
Topics: Asia, Free Trade Agreements, HS Classification
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
Incoterms® are defined by International Chamber of Commerce (ICC) to facilitate trade across the globe. They are internationally accepted standards which define the responsibilities of sellers and buyers for delivery of goods under sales contracts. Incoterms® are used to specify how the costs and risks associated with the cross-border transportation of goods are borne between the buyer and seller.
Topics: HS Classification
A change in Prime Minister in the UK on July 24th has renewed focus on Brexit and its impacts across the Eurozone. Currently, the UK is set to leave the European Union (EU) on October 31st, with or without a deal. Given that the current withdrawal agreement between the EU and the UK has been voted down three times by the UK parliament, and due to the renewed political prioritization of no-deal planning by the current government, trade compliance professionals are building their Brexit plans with the assumption of no deal.
Topics: Europe, Free Trade Agreements, HS Classification
