Import
Why Trade Matters
The US is in a full-blown “trade war” with China. The possibility of tariffs on goods from Mexico, combined with other trade actions by the Trump administration, could send the entire US economy off the rails. The Federal Reserve is already looking at ways to prevent this disaster in the making. History teaches that global [...]
Letters of Credit in Business Transactions
In most of the world and, indeed, in much of the United States the parties to a transaction often do not know each other and are concerned that the transaction will not proceed without problems. The manufacturer or supplier is concerned that it will not be paid for goods or services rendered. The buyer is [...]
ISF Enforcement: Penalties, Filing Errors, and Mitigation
While enforcement of ISF (Importer Security Filing) violations began in May 2015, the enforcement environment has stiffened markedly in the last year. ISF requires importers and carriers to provide a set of information for any shipments being imported into the United States within at least 24 hours before loading their shipments or else they may face major [...]
Importing Flowers, Chocolates And Jewelry Into The U.S.
Just like the mysterious influx of pumpkin shipments in October, at the start of every February there is a monumental increase in the purchase of flowers, chocolates and jewelry in the U.S. If you love the thriving beauty, health and vigor of delicate flowers, the delicious gooey center of a s'more by a campfire, or [...]
CBP Takes Aim at Forced Labor
CBP’s air, land and seaports processed more than 33 million imports last year. Shirts, shoes, lumber, electronics, dishes, eggplants, squid, coffee, bricks and soccer balls. Makes sliver of the commerce worth a mind-boggling $2.4 trillion. Making the U.S. the world’s second largest importer behind the EU. While trade is more robust than ever, CBP cautions […]
Temporary Lull Doesn’t Heal the Wounds of Trade War
President Trump hailed an agreement reached with China in late 2018 at the Group of 20 summit in Buenos Aires to temporarily halt a scheduled tariff increase for 90 days. “One of the largest deals ever made” and claimed China would be “getting rid of tariffs.” If you read the news headlines, you might have thought […]