On January 16, 2020, the United States Trade Representative (USTR) announced the reduction of the additional tariff on Section 301 List 4A goods from 15 percent to 7.5 percent, beginning at 12:01 AM on February 14, 2020.
This year, the Chinese New Year (CNY) holiday is starting early and will occur from January 24 through January 30. It’s not surprising that as the world’s number one exporter celebrates its major holiday, shipping delays can be expected, in some cases, even weeks after the holiday ends.
Trading globally involves risks, but having international cargo insurance is one of the best ways to offer peace of mind to both the buyer and the seller. Ascent Global Logistics wants your shipments to be monetarily safeguarded against physical loss or damage while in transit.
With varying regulations governing the disclosure (Freedom of Information Act) or confidentiality (Department of Homeland Security) of certain records, it can sometimes be challenging to know who can have access to what information in the international world of trade.
The Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) is an authorization of CBP?s trade authority and was enforced to create an environment for fair, honest and competitive trade in the United States.
Duty drawback can be a great opportunity for companies to save on duties, but to utilize it to its full extent it is necessary to understand the intricacies of the program.
Duty drawback is a Customs and Border Protection (CBP) program where companies are refunded up to 99% of customs duties, taxes and/or fees that were previously levied upon imported merchandise, and of internal revenue taxes paid on domestic alcohol as well as other excise taxes.