Software Can Help Soothe Free Trade Headaches

Posted by Kelsey Barker on Wed, Aug, 31 2016 @ 9:30 AM

Free trade agreements and foreign trade zones offer an attractive opportunity for US importers to reduce or eliminate duties and taxes, but these benefits hide behind a maze of complex protocols, dense paperwork, and red tape. Sourcing and supply chain executives must also balance duty considerations against material quality, production capacity, and number of components. 

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Topics: Duty Management, Supplier Solicitation Campaigns, Certificate Management, Foreign-Trade Zones, Trade Agreements

Is Your Company Taking Advantage of Duty Drawback Claims?

Posted by Nick Fabretti on Fri, Aug, 12 2016 @ 9:06 AM

It is estimated companies overlook up to $2.5 billion in eligible duty drawback claims, even when they are qualified to file for these tax refunds. U.S. Customs and Border Protection (CBP) refunds up to 99% of import duties paid; your firm may be eligible even if you are not the original importer or exporter of a good, but meet the requirements of the program.

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Topics: Duty Management, Global Trade Academy

How to Prepare for China’s New Standardized Customs System

Posted by Colleen Bush on Thu, Aug, 11 2016 @ 12:04 PM

It is no secret that conducting trade in China can be rather difficult and complex, but that might all change with China’s brand new standardized Customs system.  This automated system was created by China’s General Administration of Customs (GAC) in order to simplify trade by unifying Customs and standardizing nationwide enforcement of declaration issues, classification and valuation. The pilot program began in Shanghai in June, with a goal of national implementation by 2020.

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Topics: China Trade Management, Duty Management

Webinar Q&A: Framing the Total Landed Cost Picture

Posted by Suzanne Richer on Fri, Jul, 15 2016 @ 1:43 PM

On June 21st, Amber Road in conjunction with American Shipper broadcasted a webinar entitled, Framing the Total Landed Cost Picture. Our presenters, Suzanne Richer and Phanibhushan Reddy from Amber Road, received several questions throughout the webinar, but unfortunately we did not have time to address them all during the live broadcast. We have compiled their answers into a Q&A document - here is a preview:

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Topics: Landed Cost Calculation, Duty Management, Foreign-Trade Zones, Trade Agreements

Duty Free Goods Aren’t “In the Bag” Under GSP

Posted by Gary M. Barraco on Wed, Jul, 6 2016 @ 2:30 PM

The 40-year old Generalized System of Preferences (GSP) program has helped many developing countries get a foothold in the US retail market with special duty-free status on imported goods. Established by the Trade Act of 1974, GSP promotes economic development by eliminating duties on up to 5,000 types of products when imported from one of 122 designated beneficiary countries and territories.

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Topics: Duty Management, Foreign-Trade Zones, Trade Agreements

The Keys to Effective China Trade Operations

Posted by Mollie Leon on Wed, Jul, 6 2016 @ 9:30 AM

China’s dominance as the world’s top country for sourcing hasn’t swayed under the pressures that have been the topic of discussion in the boardroom, on the campaign trail, around the dining room table, or during trade negotiations in nearly every country around the world. China has maintained its place as the foremost manufacturing hub and continues to gain momentum as the premier outsourcing destination for low-cost and fast manufacturing.

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Topics: China Trade Management, Import Management, Duty Management, Export Management

Duty Management: The Alphabet Soup

Posted by Ryan Gudovitz on Fri, Jul, 1 2016 @ 9:00 AM

NAFTA, CAFTA, TPP, FTZ... How do you spell “Trade?”

All the acronyms used to reference trade and duty programs can sound a lot like alphabet soup. But they represent a variety of opportunities for exporters to grow their business overseas by making their products more affordable in growing markets. Furthermore, FTAs and FTZs allow importers to dramatically lower the duties and taxes they pay. 

Savings from these programs can be significant, and are often measured in the millions to tens of millions of dollars annually. And yet, many shippers don’t participate because the complexity of each unique trade agreement and the difficulty navigating the regulatory intricacies. 

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Topics: Duty Management, Global Trade Management, Foreign-Trade Zones, Trade Agreements

A Duty to Save: Avoiding Missed Opportunities in Duty Management

Posted by Ryan Gudovitz on Tue, Jun, 14 2016 @ 9:00 AM

Most global shippers know that free trade agreements (FTAs) and foreign trade zones (FTZs) are important duty management tools. But according to American Shipper research, only a fraction are fully utilizing these duty reduction vehicles. As discussions progress on sweeping trade pacts involving Asia, South America and Europe, it’s more important than ever to ensure you’re not leaving opportunities on the table.

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Topics: Landed Cost Calculation, Duty Management, Global Trade Management, Foreign-Trade Zones, Trade Agreements

On-Demand Webinar - Framing the Total Landed Cost Picture

Posted by Ryan Gudovitz on Wed, Jun, 8 2016 @ 10:00 AM

Shippers have long desired a true understanding of their total landed costs from sourcing to distribution. But a key part of that picture is knowing the duties their goods are subject to, and ways to reduce those duties.

Duty management strategies can vary by industry, with supply chain decisions impacting sourcing, or sourcing decisions impacting supply chain. An effective duty management strategy must evaluate the free trade agreement and foreign trade zone opportunities available depending on the goods being shipped – and technology is crucial in this evaluation process. Automated duty management is a crucial component of any total landed cost calculation.

During this webinar, industry experts explore ways shippers can build expertise in duty management to round out their total landed cost picture, with a high level look at total landed cost initiatives and a deeper look at how to better leverage FTAs and FTZs.

Highlights include:

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Topics: Webinars, Landed Cost Calculation, Global Sourcing, Duty Management, Global Trade Management

China Trade Policy Update - Are You Aware Of These Recent Changes?

Posted by Kae-Por Chang on Wed, Apr, 6 2016 @ 2:53 PM

The China General Administration of Customs released GAC 2016 Circular 20 on March 24, 2016 to change Customs declaration filing requirements with an effective date of March 30, 2016.

So how does this affect your organization and what should you do to ensure trade compliance? 

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Topics: China Trade Management, Duty Management, Foreign-Trade Zones