Trade Publications


Posted on July 17, 2019. Category: Trade Publications

Over a year after Section 301 and Section 232 tariffs were introduced, changes, mainly increases, in the tariffs are still being introduced and discussed regularly.Section 301 UpdateIn early May 2019, President Trump released a series of tweets threatening significant tariff hikes that would go into effect later that week on May 10th, 2019. Trump indicated in his tweet that he was unsatisfied with the speed of the trade talks with China saying, “The Trade Deal with China continues, but too slowly.” After a setback in trade negotiations, the existing 10% tariff on List 3 goods increased to 25%. This increase affected products with a...

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Section 301 News: List 4 Suspended

Posted on July 01, 2019. Category: Trade Publications

President Trump announced on June 29 that he will hold off on imposing additional tariffs on goods from China. As a result, for the time being, the items on list 4 will not face any additional customs duties.As the U.S. and China continue to work towards a permanent solution, this could be the start to a downturn in trade hostilities between the two. With list 4 representing approximately $300 billion in import value, U.S. importers and U.S. consumers should see a considerable benefit to the suspension of these additional duties.In other section 301 news, as of June 30th companies who...

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100% Entry Audit

Posted on June 14, 2019. Category: Trade Publications

Allyn’s proprietary GTM software (CIMS™) offers industry leading solutions that facilitate maximized compliance and efficiency. One key solution is the Entry Audit Module, which offers an electronic comprehensive audit of all customs entries.100% entry audit offers a way to increase compliance rates and greatly reduce risk. This industry best practice ensures the correct entry of all imports and promotes increased visibility and access to entry data and documents. The available documents and data improve operational capabilities and allow for trade data analysis on a strategic level.Additionally, scorecards and dashboards are available for measuring broker and importer...

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"Systems are Currently Down"

Posted on June 10, 2019. Category: Logistics Publications, Tax Publications, Trade Publications

“Systems are currently down” is a common phrase. You might have seen or heard it before, maybe when ordering online or trying to get an ice cream at the drive-through. For many years, companies only had physical threats to worry about. However, new threats are always emerging. If a company is not taking preemptive measures it could end like the following companies:Yahoo says all three billion accounts hacked in 2013 data theft Marriott Data Breach Is Traced to Chinese Hackers as U.S. Readies Crackdown on Beijing Target customers' card data said to be at risk after store...

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Deal With Mexico Suspends Tariff Hikes

Posted on June 10, 2019. Category: Trade Publications

On Saturday June 9th, U.S. President Donald Trump announced that the much-anticipated tariffs on imports from Mexico, set to be begin on June 10th, would be indefinitely suspended.The suspension occurs after the United States and Mexico announced a new agreement on immigration. And while few details on the agreement have been release, the suspension of the tariffs is welcoming news for U.S. importers and consumers. Had an agreement not been reached, tariffs would have started at 5% and increased monthly until they hit 25% in October 2019. U.S. companies would have felt the impact of these tariffs, as...

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New USA Import Tariffs for Mexico will begin June 10, 2019

Posted on June 07, 2019. Category: Trade Publications

On May 30, 2019 President Donald Trump issued a statement declaring that there will be a 5% Tariff on all goods imported from Mexico, starting June 10, 2019. The president has stated that if the immigration crisis persists and the Mexican government does not act to limit the amount of nondocumented immigrants entering the USA then he will raise the tariff to 10 % on July 1, 2019. The tariff is set to increase to 15% on August 1, 2019 then to 20% on September 1, 2019, and to 25% on October 1, 2019. After October 1st the tariff will stay at 25%. (White House Press, 2019)How might this affect the entry process into the US?As seen...

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The Belt and Road Forum Aims for a Better World

Posted on June 07, 2019. Category: Logistics Publications, Trade Publications

The Second Belt and Road Summit forum was held in Beijing to discuss Chinese President Xi Jinping’s signature infrastructure project that began in 2013 to rebuild ancient trading routes across Eurasia.When Xi Jinping visited Central Asia and Southeast in September and October of 2013, he raised the initiative of jointly building the Silk Road Economic Belt and the 21st Century Maritime Silk Road (hereinafter referred to as the BRI), which have attracted close attention from all over the world. The Belt and Road forum aims to promote the connection between Asian, European and African continents and their adjacent areas....

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Trucks from Mexico Face Prolonged Delays

Posted on June 02, 2019. Category: Trade Publications

Imports from Mexico represent about 15% of the total imports into the United States. In fact, in 2018 alone, there were over 6 million truck entries into the US from Mexico, averaging out to over 17,000 truck entries per day. Companies on both sides of the border have come to rely on smooth and efficient border crossings, resulting in timely deliveries.Over the last month, crossing has been anything but timely and efficient. While trucks have traditionally taken less than an hour on average to cross the border in some cases, they are now facing up to 10 or more hours of wait time in...

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Trump to Increase Tariffs on Imports From Mexico

Posted on May 31, 2019. Category: Trade Publications

On May 30th, in order to address immigration issues on Southern Border, President Donald Trump announced a tariff increase on all goods from Mexico. The rate increase will start on June 10, and the rate will get progressively higher every month if the immigration crisis persists.On June 10 the rate will increase 5% and then will go up another 5% at the beginning of each month, until it reaches 25% on October 1.There has not been a federal register notice yet, but there should be one soon that would help outline the scope of these new tariffs. Some issues to...

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Say Goodbye to your EX (Works) - Proposed changes in Incoterms 2020

Posted on May 02, 2019. Category: Trade Publications

Since 1919 the International Chamber of Commerce (ICC), has been committed to the facilitation of international trade. With the different practices and legal interpretations between traders across the globe, it was vital to establish a set of guidelines; thus, the first set of incoterms came to be in 1936. Since the inception of these terms, the ICC has been committed to updating these incoterms every 10 years to ensure relevance and compliance.With over a quarter of 2019 gone, the trade world is preparing for a decade of new incoterms. On January 1st, 2020, the trade terms we have grown accustomed to over the past 10...

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