TradeLane

The automotive industry relies heavily on the global flow of parts and components, making accurate classification within the Harmonized System (HS) critical. This complex system of names and numbers dictates tariffs and facilitates international trade, but its intricacies can be highly challenging for automotive products.

Differences that seem minor in a part description may lead to exponentially different classifications and, as a result, wildly varying duty rates. These differences can have significant financial implications for automotive businesses, impacting everything from production costs to final vehicle pricing.

Tradewin is excited to travel to Orlando, Florida, for the International Compliance Professionals Association (ICPA) event. We look forward to connecting with fellow trade compliance professionals, exploring the latest industry insights, and reinforcing our commitment to providing exceptional service to our clients. 

If you are a business engaged in international trade, you may have a valuable opportunity to reduce costs through a program known as Duty Drawback. This program allows your business to recover the duties, taxes, and fees paid on imported goods that are subsequently exported or destroyed.

Although the recovery process can be complex, the potential savings can be significant. Continue reading to explore the basics of the program, who is eligible, and how Tradewin can assist you.

The Canada Border Services Agency (CBSA) has released a detailed outline of its verification priorities for 2025, specifically aimed at enhancing compliance with trade regulations. Here’s an in-depth look at what your business needs to know to stay ahead:

As businesses brace for 2025, the European Union will introduce significant updates to the Harmonized System (HS) of tariff classification, effective 1 January 2025. These changes, encapsulated in the Combined Nomenclature (CN), are vital for companies engaged in international trade to ensure accurate classification and compliance. The upcoming revisions reflect advancements in statistical requirements, commercial policies, and technological developments.