News
What Is A Customs Bond And When Do I Post It?
If you’ve got your feet wet importing goods from overseas then your company will no doubt have become familiar with the concept of posting a customs or import bond. For those that are new to import/export, here’s is the basic information on what a customs bond is and...
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Garment Production in China in the Age of Tariffs
When U.S. tariffs were levied in September on $200 billion worth of Chinese imports, some apparel companies saw the writing on the wall even if they wanted to erase it. The 10 percent tariffs did not cover apparel or footwear, but it did include fabric and handbags...
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Final TFTEA Regulation & the Top 10 Points You Need to Know!
Last week, due to their court-imposed deadline, CBP released the final Duty Drawback Regulations (Modernized Drawback). These regulations institute the new processes for drawback pursuant to the Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA). This was a...
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The Threat Of European Auto Tariffs
With the trade news justifiably focused on the ongoing trade war between China and the United States, less attention has been focused on the growing threat that the Trump Administration might impose high duties of up to 25% on European automobiles being imported into...
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Amazon – The 800lb Gorilla of Import/Export
For those interested in selling on Amazon, there are a few things to keep in mind to ensure that the process runs as smoothly as possible. Here are the facts in terms of what to expect from shipping to customs and, of course, the Amazon warehouse. Open Your FBA...
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The State Of Chinese Tarrifs: Trump and Xi after the G-20 Summit
Over the last year, three lists of products being imported from China have been hit with large tariffs of 10% to 25%. The reasoning for these was to balance out what the Trump administration believed to be unfair trade practices by China, with the goal of increasing...
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Reducing Land Based Freight Costs
Lately it seems like the cost of everything is going up – and freight costs are no different. But that’s no reason to fall into the trap of doing what you’ve always done, just because you’ve always done it. With a refreshed approach to your logistics challenges,...
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CEO Letter: 301 Tariffs & Duty Drawback
Across the country, thousands of importers are dealing with the cost impact that new “section 301” tariffs have brought to their bottom line. With 10% (soon to be 25%) additional costs on many sectors that had long become accustomed to being duty free, it can...
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Reducing Domestic Freight Costs
Freight costs account for a large portion of your company’s expenses. So, if your business deals in large quantities of inventory, transportation costs can have a significant impact on profits. By reducing the domestic freight costs on a day-to-day basis, you can...
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Operating In A FTZ Has Its Benefits, But Is Loaded With Responsibility & Costs
When compared with the ease of filing Drawback claims on an accelerated duty refund basis, the advantages of Drawback are obvious. Responsibilities and costs of operating in a FTZ is generally borne by OPERATORS and USERS. Operators – are defined as a corporation,...
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Section 301 Tariffs – The Good, the Bad & the Ugly – And How to Survive
The Trade Act of 1974 promotes the development of an open, nondiscriminatory, and fair world economic system to stimulate fair and free competition internationally and to foster the economic growth of and employment in the United States. Concerns by the United States...
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Changing Rules of Origin in the USMCA
At the end of September, the delegates from the United States, Canada, and Mexico came to a preliminary understanding for a new agreement that would supplant NAFTA called the USMCA. I’ve written about this previously, and today wanted to focus on one of the major...
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Data Security in Import and Export
Cyber attacks and breach of security can cost companies millions of dollars especially when those breaches affect import/export data and record keeping. In 2017, the NotPetya attack on Maersk’s computer network cost the company over $300 million. In 2018, COSCO had a...
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