Unpredictability around trade protectionism isn't just limited to the US, or even the western hemisphere. For global companies sourcing and shipping around the world, it can be important to know some of the quirkier import and export anomalies, saving time and avoiding headaches from denied shipments and surprise tariffs.

The first round of negotiation meetings of North American Free Trade Agreement (NAFTA) 2.0 were held in Washington D.C. on August 16-20, 2017. The negotiating parties convened to modernize the NAFTA agreement (implemented in 1994) at the request of the Trump Administration. Trump has repeatedly threatened to withdraw from the Agreement, unless new terms (favorable to the U.S.) are struck.

The subject of antidumping and countervailing duties can be very intimidating for most businesses involved in international trade. Therefore, it’s important to understand the background behind these unfair trade practices and how governments defend against them.

Duty Drawback represents one of Customs’ most long-standing benefits to firms, as it offers companies a refund of up to 99% of taxes, duties and fees paid when imported merchandise is exported or destroyed within certain timeframes. The concept is simple – match your import entry documents with the corresponding export docs, file for expedited payment processing, and voila! Money will flow into your bank account.

As simple as it seems, drawback regulations are among the most complicated, and it is estimated that $2.8 billion dollars is left unclaimed by companies eligible for refund. Enter Amber Road’s Global Trade Academy – after attending the unique 3-day Duty Drawback Certificate Program, attendees have succeeded in securing incredible refunds for their firms.

One great success story is that of Tammy Anderson, Logistics Supervisor with an electronics firm, who in less than one year was able to secure $1.3 million dollars from her drawback program.  

Since the Great Recession of 2008, global trade has remained flat while e-commerce has increased 20% per year. While the disruptive force e-commerce has on the economy appears most prominently in the retail sector, this latest digitalization of trade will continue to change industry trade patterns and product distribution for years to come.

With evolving import regulations and products, tariff classification can be a challenging exercise for even the most experienced international trade professional. Ensuring accuracy at the time of entry is crucial to avoid paying fines and penalties.

Nothing dominates the importing and exporting scenario in the United States more readily today than the discussion around a border tax. With a long-standing trade deficit, the U.S. imports far more than it exports and the proposed border adjustment tax (BAT) would hit imports for an additional 20%. There are supporters and detractors on both sides. 

If 2016 taught us anything, it’s that the global supply chain can’t expect a continuation of the status quo, and even the surest predictions can be wrong. With last year’s tumultuous end in the rear-view mirror, global companies powering ahead into 2017 must be ready for regulatory change – both the predicted and unexpected.

Are you unable to make it to this year’s U.S. Customs and Border Protection (CBP) Trade Symposium in Arlington, VA? Or will you make it to Arlington, but would like a review of the themes and updates from the event?

Were you unable to make it to this year’s Bureau of Industry and Security (BIS) Update Conference in Washington, DC? Or did you make it to Washington, DC, but would like a review of the themes and updates from the show?