Brexit: Journey to the Unknown

Posted by Arne Mielken

On March 29, 2019 the United Kingdom will leave the European Union – and with it the customs union, the EU’s common commercial policy and the European single market, which had hitherto committed the UK to the free movement of labor. Yet with Brexit only some months away, future customs arrangements between the negotiating parties remain totally unpredictable. The uncertainty is poison to global trade.

When we leave the EU, we will also leave the EU Customs Union.”

This was the guiding principle under which the United Kingdom, on its way out of the European Union, first submitted ideas about a future customs collaboration with the EU, including the outline of an independent customs bill.

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Topics: Global Trade Content, Global Trade Management, Trade Regulatory Content, Global Knowledge, Trade Content Specialists

Amber Road and Dow Jones Partner to Deliver Expanded Restricted Party Screening Capabilities

Posted by Kelsey Barker

Today, Amber Road announced a new partnership with Dow Jones Risk & Compliance to offer enhanced Restricted Party Screening (RPS).

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Topics: Global Trade Content, Import Compliance, Export Compliance, Restricted Party Screening, Export Violations, Global Knowledge

Trade Relations are Building a Bigger Wall Between the US and China

Posted by Gary M. Barraco

The tête-à-tête regarding trade between China and the US, the world’s two largest economies, has reached a new level. On Tuesday, April 3rd, the US Trade Representative (USTR) issued a list of over 1,300 products that when imported from China, would carry an additional 25 percent duty. The action doesn’t come as a surprise as both nations have been at odds over President Trump’s open position on the trade imbalance.

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Topics: Global Trade Content, Global Knowledge

As Trade with India Grows, Trade Automation Helps Pave the Way

Posted by Ty Bordner

The latest trade data from the U.S. Census Bureau shows a steep increase in U.S. exports to India for 2017 – 18 percent – making it our 15th largest export market. India is the 11th biggest importer of goods to the U.S. as well, growing by a modest 5.6 percent from 2016 to 2017. The second-most populous country in the world, India is home to 1.3 billion people and a growing middle class. These figures help explain why India is increasing in attractiveness to U.S. companies looking to expand their global footprint.

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Topics: Global Trade Content, Trade Regulatory Content, Global Knowledge, Trade Content Specialists

Are You Prepared for Global Trade Management in 2018?

Posted by Mandy Hyde

In April of 2017, the World Trade Organization predicted that global trade management was expected to recover in 2017 and 2018. This was reported even amidst the surge of policy uncertainty and growing protectionism due to various updates to export restrictions and sanctions, ongoing trade negotiations, etc. However, in order for this rebound in economic performance to take place, governments had to pursue "the right policy mix." Did this happen and, if it did, what does this mean for 2018?

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Topics: Global Trade Content, Global Trade Management

Global Trade Recap: While You Were Away…

Posted by Gary M. Barraco

 

The elongated holiday break gave most people a chance to relax, but for most, that means you have some catching-up to do. Here is a quick recap of some top global trade news stories that emerged in the final weeks of 2017 while you were away from the small screen...

 

 

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Topics: Global Trade Content, Global Trade Management

Webinar: Wrapping Up Global Trade in 2017

Posted by Mandy Hyde

The past year of global trade management has been riddled with policy uncertainty and growing protectionism as ongoing negotiations, such as NAFTA and Brexit, bring promise of widespread trade changes and an influx of new policies and regulations. The World Trade Organization originally reported in April that global trade was expected to recover in 2017 and 2018; however, in order for a rebound in economic performance, governments would need to pursue "the right policy mix." Did this happen? What forthcoming trade trends do importers and exporters need to prepare for?

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Topics: Global Trade Content, Trade Content Specialists

Amber Road's Rules of Origin Search Tool Facilitates the Analysis Process

Posted by Ty Bordner

Lowering or eliminating your customs duties by leveraging free trade agreements or trade preference programs is a smart business strategy. There is an essential requirement to free trade agreement utilization: validating the product against its Rule of Origin (i.e. qualification).  These rules define the criteria by which a product is eligible for participation in the trade program.  When a product is wholly obtained and produced in a single country, it is relatively easy to determine its eligibility.  Difficulties arise in determining eligibility of goods manufactured in, assembled in, or using materials originating in, more than one country.

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Topics: Duty Management, Global Trade Content, Free Trade Agreements

EU Aims to Simplify VAT and Increase Compliance

Posted by Arne Mielken

In the case of customs tariffs, it can seem that dealing with the EU is sometimes easier, as rates and rules are harmonized for its presently 28 Member States. However, digging deeper into other programs can run you into trouble. A perfect example is the EU Value Added Tax (VAT). Monitoring and accurately interpreting the indirect tax changes in the EU and country-by-country (VAT rates are not harmonized) can be a manually-intensive and daunting task. This task is especially tedious when different VAT rules apply depending on the transaction and movement of the goods.

The European Commission has now launched plans for the biggest reform of EU VAT rules in a quarter of a century. The Commission says this reboot would improve and modernize the system for governments and businesses alike by 2019.

The (almost) Successful EU Single Market – Don’t Mention VAT!

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Topics: Global Trade Content

BREXIT, THE BUMPY ROAD AHEAD: EU Tariff Rate Quotas

Posted by Arne Mielken

Negotiations have resumed in Brussels over Britain’s exit from the European Union (EU). Since the last round of talks in July, the United Kingdom (UK) has published a series of position papers on various Brexit issues, including the future customs cooperation with the EU (Open for Business: Customs at the Forefront of the UK’s New Special Partnership with the EU). There is also talk of a transition for the immediate period after Brexit. Real chances of discussing these issues are not dependent on Great Britain alone, but on what transpires at an EU October summit authorizing the start of trade negotiations.

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Topics: Duty Management, Global Trade Content, Global Knowledge, Trade Content Specialists

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