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by Roanoke Trade

General Average: A Little-Known but Costly Risk

General Average (GA) is an overlooked and poorly understood risk that has significant consequences for cargo owners with shipments that move via ocean vessel. A General Average loss includes possible damage to a shipper’s cargo, delay to the shipment, and additional costs associated specifically with a GA incident. Complicating the matter further, the shipping line that declares the GA has the right to hold the shipper’s goods until acceptable security is posted on their behalf.

by Roanoke Trade

By: Matthew L. Zehner – Vice President, Surety Information & Analysis

In the June 12, 2018 Federal Register, CBP’s ACAS Interim Final Rule sets forth CBP’s new regulations requiring certain information about air cargo shipments that arrive in or transit the United States. Air Cargo Advance Screening (ACAS) regulations formalize a pilot program initiated over 7 years ago in response to terrorist attempts targeting air traffic, including the use of air cargo.

by Roanoke Trade

It probably comes as no surprise that Shipper’s Interest Cargo Insurance benefits cargo owners. This policy is an effective risk management solution that transfers the risk of loss or damage to goods from the cargo owner to the insurance company. What may not be so well known is that Shipper’s Interest Cargo Insurance can benefit transportation intermediaries as well. By procuring Shipper’s Interest Cargo Insurance for clients, transportation intermediaries add a level of protection against gaps in a carrier’s motor truck cargo policy and financial risks including those resulting from contractual liability claims.

by Roanoke Trade

Written by Jacob Fisher and Nathaniel Saylor of Scopelitis, Garvin, Light, Hanson & Feary, P.C.

International forwarders often enjoy a significant advantage over entities that arrange for domestic transportation in that international forwarders are able to perform a larger amount of their services pursuant to their standard terms and conditions, whereas domestic providers are often required to sign onerous contracts drafted by their customers.

by Roanoke Trade

By: Colleen Clarke – Vice President, Surety Trade Relations

As announced by the U.S. Trade Representative in Docket Number USTR-2018-0018 on June 15, 2018, the White House announced that the U.S. will impose retaliatory duties of 25% on goods valued at $34 billion covering 800 tariff numbers where the country of origin is China and the goods are entered for consumption, or withdrawn from warehouse for consumption, on or after July 6, 2018.

by Roanoke Trade

U.S. Customs and Border Protection (CBP) announced in CSMS#18-000372: UPDATE: Additional Duty on Imports of Steel and Aluminum Articles under Section 232 an update based on the President’s Proclamation on adjusting the duty and quota requirements for steel and aluminum.

The update advises as of June 1, 2018, all steel and aluminum articles imported from the following countries are subject to the Section 232 Import Duties:

  • Steel: All countries of origin except Argentina, Australia, Brazil and South Korea
    • All steel products must be classified under 9903.80.01 (25% percent) in addition to reporting under Chapters 72 and 73.

by Amanda Barlow

Starting this August, Qatar will be officially accepting ATA Carnets! This means that U.S. exporters to Qatar can begin sending their temporary import shipments to Qatar on ATA Carnet, the “passport for cargo” and the gold standard for temporary entries. By joining the ATA Carnet system, Qatar strengthens their status as a global investment destination and becomes even more attractive to international events and exhibitions.

by Roanoke Trade

On April 23, 2018, CBP announced a modification to its entry summary rejection policy via CSMS 18-000301 as it pertains to entries subject to ADD/CVD, to special tariffs imposed under Sections 201 and 301 of the Trade Act of 1974, and to special tariffs imposed under Section 232 of the Trade Expansion Act of 1962. (For more details on these special tariffs, see the April 2nd blog posting.

by Shannon

World Cup Fever is almost upon us! Starting June 14 and running until July 15, the FIFA World Cup will be held in Russia. The good news for the trade industry is that the Russian National Guarantee Association has declared that sports equipment and broadcasting equipment, intended specifically for the FIFA World Cup, may be temporarily imported under ATA Carnet as Professional Equipment.

by Roanoke Trade

International Trade in the News – What Does It Mean?By: Matthew L. Zehner – Vice President, Surety Information & Analysis

If you were wondering about all the new tariffs in the news recently, or why portions of what we do for a living are being discussed on TV news and on the front page of newspapers, continue reading for a high-level explanation of what is going on.

In addition to the HTSUS tariff rates on imported goods and the applicable taxes and fees imposed by statute, there are a variety of laws available to combat unfair trading practices.