TradeLane

Since 1993, Reconciliation entries have been a pivotal tool for US importers to simply and expediently make changes to certain elements of an import entry. While some very, very limited classification and 9802 changes can be made using reconciliation filings, the vast majority of adjustments are for value changes after importation or retroactively claiming a free trade agreement like USMCA and 9802. 

Starting in 2022, the US Bureau of Industry and Security (BIS) implemented complex new export regulations that have a widespread impact on businesses. The first BIS update to include the Advanced Semiconductor Controls regulations was originally published on October 7th, 2022. The update just celebrated its first birthday and was recently updated to refine controls. Processing units for artificial intelligence workloads were a notable target of the update, setting tighter restrictions on AI chips and semiconductor manufacturing equipment and introducing new BIS entity lists restricting transfers with hundreds of foreign companies.

In the world of international trade, Canadian businesses often face the challenge of navigating customs duties, which can significantly impact their overall profitability. Fortunately, the Canadian Duty Drawback program offers a valuable opportunity to recover these duties and boost financial well-being. This program, often overlooked by many businesses, holds immense potential for companies that regularly engage in import and export activities.

The Customs Trade Partnership Against Terrorism (CTPAT) is open to members of the trade community who demonstrate a commitment to practices that help to secure the supply chain. Training is a critical component of that commitment. CTPAT members must establish and maintain a comprehensive security training and awareness program. Personnel of CTPAT members must understand the threats to the supply chain and their role in protecting it. Typically, CTPAT members should have general security awareness training that they provide to a wide audience and specialized training that is presented to personnel in more sensitive positions.

Despite a somewhat sluggish global trade climate, Tradewin keeps growing! As international trade law and associated regulations change, the need for trade compliance and advisory services continues to increase at individual companies, as well as at an industry level. Tradewin will continue to invest in our network and facilities where our clients need us most.