This week, U.S. President Donald Trump and Chinese President Xi Jinping announced a sweeping economic agreement following high-level talks in Seoul. The deal marks a new phase in the evolving U.S.–China trade relationship. It represents both a temporary easing of certain tariffs and export restrictions, and a recalibration of long-term [...]
Read MoreChina’s Ministry of Commerce announced that the latest round of U.S.–China economic and trade talks, held in Kuala Lumpur, resulted in several notable tariff and export-control suspensions that could temporarily ease tensions for importers and exporters on both sides. Key Outcomes The United States will cancel the 10% “fentanyl tariffs” [...]
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The Importer of Record, or “IOR” has a lot of liability for entry. Any penalties resulting from discrepancies relating to classification of the goods or admissibility issues, and the duties to be paid, must be covered financially by the IOR. Changed from when I got my Customs broker’s license in 1978 is the fact that today the IOR must have […]
This is an old blog we lost during our transfer of site hosting. On April 20, 2017, President Trump directed the U.S. Department of Commerce (DOC) to conduct an investigation into the effects of steel imports on U.S. national security. (Presidential Memorandum Can Be Seen Here). On April 27, 2017, the President directed DOC to conduct an investigation into the […]
While running your business, you have a million things to think about. Customers, employees, taxes, transactions – the list is endless. But what about protecting the company’s very identity, goodwill, and brand? A company’s name and logo are vital to success from a marketing standpoint, and as such you should be doing everything possible to protect them. A great place […]
This is an old blog we lost during our transfer of site hosting. A record-setting payment of $1,190,000,000.00 by ZTE Corporation of Richardson, Texas (“ZTE”) shows the enormous risks today of underestimating U.S. export enforcement. The International Emergency Economic Powers Act gives the President of the United States broad authority to regulate international transactions and exports.. Pursuant […]
This is an old blog we lost during our transfer of site hosting. Update on this topic is forthcoming in a future blog. Executive Orders President Trump issued two Executive Orders on March 31, 2017, signaling the new administration’s opposition to unfair trade practices. The first Executive Order (See Original Document Here) directs the Department of Commerce (“DOC”) and the […]
This is an old blog we lost during our transfer of site hosting. Update on this topic is forthcoming in a future blog. When foreign manufacturers sell below the cost of production or “fair market value”, it is known as “dumping.” Dumping is a worldwide issue and phenomenon. Every country and trade block, and virtually every major multinational and/or trade […]
Business Valuation is the process of determining the economic value of a business or company. Although this may seem pretty straightforward, accurately valuing each business takes a great amount of preparation and thought. Establishing what a business is worth is not an exact science, largely due to the way different people view each aspect of a company. An investor will […]
On May 20, 2016, Congress enacted the American Manufacturing Competitiveness Act, a new law to restructure the process companies go through to obtain temporary duty reductions and suspensions. Previously, companies would have to petition members of Congress to submit individual bills requesting tariff reductions, which were then accumulated and piled into one large omnibus bill known as a Miscellaneous Tariff […]
Import and export traffic in our globalized world generally runs quite smoothly, but occasionally, the very real risks associated with the natural elements at sea or simple human error impact transportation adversely. Severe weather including wind, rain, swells and lightning storms can create a recipe for disaster for traveling ships. Less violent, but still serious issues can arise when technology […]
Warehouses are massive repositories of risk and are responsible for holding, in many cases, millions of dollars in property. Because of this huge responsibility, warehouses have the right to contractually limit liability for loss or damage, and to issue liens to protect themselves from unpaid storage bills. A common inquiry among NVOCCs, forwarders, and warehousemen alike, is whether or not […]