The following blog post has been provided by Karen Lobdell, Director, Trade Security & Supply Chain Services at Drinker Biddle & Reath LLP.
Is your company facing challenges regarding customs valuation rules? Are you having issues in applying transfer pricing regulations? If these questions are being asked in your company, then you will want to register for a free, educational webcast on customs valuation rules. The webcast will take place on Thursday, August 19, 2010 at 2:00 p.m. EST.
Those of you reporting a post office (P.O.) box as your physical address in the Automated Export System (AES) will need to make a change by the end of the year. The Foreign-Trade Regulations requires the address of the United Stated Principal Party in Interest (USPPI) to be reported as the physical address of the company (number, street, city, state, zip code) and not a P.O. box.
Are you having trouble reporting Electronic Export Information (EEI) when multiple Harmonized Schedule (HS)/Schedule B numbers are involved? Do you know how to tell whether filing is required for a particular commodity? Ken Soo of the US Census Bureau has created a step-by-step approach to properly reporting those items.
As part of the Wall Street Reform and Consumer Protection Act, the conflict mineral reporting requirement was enacted into law on July 21, 2010. The law attempts to prevent the illicit trade of certain minerals within illegal armed groups in the Democratic Republic of Congo (DRC) and requires new reporting for importers.
Many apparel and textile companies are considering implementing tools to assist with global trade management (GTM) and compliance. Automating the process of classifying products, qualifying for free trade agreements (FTAs), completing customs forms and screening for denied parties is a good first step to compliance but an automated solution also has to provide the three C’s of GTM – compliance, content and connectivity. In a recent Apparel Magazine article, Liz Connell, Client Service Manager at Integration Point, Inc., broke down the three C’s and provided a checklist for apparel companies looking to automate their global trade compliance processes.
Textile imports represent approximately 34% of all duties collected by CBP. To prevent undervalued duties and illegal imports, CBP partnered with ICE to create Operation Mirage.
With the creation of the National Export Initiative, US exports have gotten a lot of focus recently. How will the goals of the NEI impact your day-to-day export operations? American Shipper and BPE invite you to participate in their export management survey to answer this question.
Assistance for US manufacturers came in the form of the US Manufacturing Enhancement Act of 2010, more commonly known as the Miscellaneous Tariff Bill (MTB). The bill, which temporarily lifts tariffs on hundreds of imported raw materials, was passed on July 27, 2010 by the US Senate.
See how your company’s current global trade management (GTM) practices measure up against other members of the trade by participating in the Aberdeen Group Global Trade Management Study. The results, which will be shared with all study participants, will show how others in your industry are handling GTM.
