Industry Insights
Customs brokers and importers alike can be proactive with the management of their import bonds on goods subject to the Section 232 and 301 trade wars. Here’s how:
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Compile a list of your import clients affected by the new tariffs
Access the latest lists of tariffs subject to Section 232 or Section 301 here. Suggest your importing clients obtain an ACE account and grant you “Sub Account” access to view their data.
Originally published on August 6th on the TIA website by Grant E. Goldsmith.
Earlier this year, General Motors introduced its latest self-driving car – a car with no steering wheel or foot pedals – that’s expected to hit the streets in 2019. GM’s car is meant to drive itself with no assistance (hence no steering wheel) from the driver. This is the future – driverless vehicles. …
August 1st, is a big day in the ATA Carnet world!
After much anticipation Qatar will officially be accepting ATA Carnets, and we know many of you are very happy with this latest ATA Carnet development. As of tomorrow U.S. exporters who ship to Qatar can begin sending their temporary import shipments to Qatar on the ATA Carnet, the “passport for cargo” and the gold standard for temporary entries. …
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: 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. …
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. …
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: 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. …
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.
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. …
