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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Counterfeit goods and other methods of product reproduction that infringe upon the intellectual property of the owner are strictly illegal, and heavily regulated, especially within the US. The gray, or “grey”, market however, enjoys much fewer limitations as the goods are authentic and obtained by legal means. “Gray goods” are legally manufactured goods purchased from certified distributors, which are then […]
Change is on the horizon in the shipping industry, and it is important to make sure you are staying informed. Effective July 1st, 2016, changes adopted by the International Maritime Organization (IMO) regarding verified container weights will become effective. These changes were first introduced at the 2014 Safety of Life at Sea (SOLAS) Convention, but it is now time for […]
As any Customs broker can tell you, there are an ever-increasing number of antidumping duty cases filed. It is imperative that importers (and their brokers) understand this topic. Dumping duties are tariffs imposed by a government when it believes foreign goods are being sold below their fair market value or cost of production. The whole world does it. This practice […]
Since the summer (2015) there have been penalty settlements announced by the Federal Maritime Commission (FMC) which total in excess of $2,000,000.00. Its Bureau of Enforcement (BOE) is the arm of the Commission specifically focused on prosecution. The BOE investigates violations of the Shipping Act as well as enforces FMC regulations, and Bureau attorneys are the ones who act as […]
2016 has kicked off with some big changes, many of which pertain to the United State’s relationship with Cuba. On January 27th, 2016, the Bureau of Industry and Security (BIS) and the Office of Foreign Assets Control (OFAC) announced new regulations that further reduce U.S. sanctions on Cuba. Translation: things are looking up in terms of repairing a long-term strained […]
The Trade Facilitation and Enforcement Act of 2015 was passed by the Senate on February 11th, 2016 in a 75-20 vote. Now that the bill has been passed by the House and the Senate, the final piece of the puzzle is for President Obama to sign the bill into law. Given that this is projected to be enacted by the […]
Many of our clients are smaller, family-owned enterprises which have succession concerns. It is always important to be thinking ahead, whether it’s your overall strategic vision, marketing and sales, human resources, or any other facet of your business. The common thread for success in each of these disciplines is having a well-developed plan, including one for exit. Here I focus […]
It is no secret that there are many benefits to taking advantage of Foreign Trade Zones (FTZs). Regardless of the size of an importer or exporter, using FTZs can significantly reduce costs from customs duties and taxes, and as a result increase a company’s global market competitiveness. By definition, a foreign-trade zone is a geographical area (located within 60 miles […]
As we start off this new year there are some important new changes to be aware of; this includes the Bureau of Industry and Security’s (BIS) proposed changes to export enforcement guidelines. This bureau is the agency responsible for enforcing the Export Administration Regulations (EAR), which handles all export enforcement cases. These proposed changes will impact how the BIS categorizes […]
Freight forwarders, Customs brokers, and carriers always provide shipment tracking to their customers. There are a variety of ways to do this; they may use their own software to track shipments, or they may track shipments by linking to another carriers’ website. There is nothing magical about this, yet this type of technology may be covered by patents or copyright. […]