As we are now a few months out from the initial COVID-19 outbreak, it’s clear that importers are reckoning with shifts in the market. All things considered, it’s an opportune time to look into an overview of the identifiable impacts of the pandemic on the industry so far, perhaps [...]
There is no doubt that these uncertain times will put global trade up to the test. Both anecdotally and statistically, 2020 has been marred by the impacts of COVID-19 so far. However, at this point, it is safe to assume that the effects of the pandemic will stretch beyond this [...]
Since the beginning of 2020, the pandemic’s impact has rippled its way through the global economy. Many sectors have been hit with a decline, but logistics and trade have had extremely pronounced impacts. Of course, while there is a lot of financial instability in the sector, there have been many [...]
As July 1st, 2020 draws nearer, the timeline draws near for USMCA to be enacted, it’s increasingly important for importers to stay informed. We’ll be covering a baseline level of information to help you get ready. First and foremost, you might have noticed that there is a different naming convention [...]
Earlier this month, US Customs and Border Patrol announced that a USMCA Center has been opened in Washington, DC. The Center will be staffed with customs professionals equipped with tools to support the private sector in navigating USMCA. More specifically, the center will focus on things like:Â Regulatory changes Automation [...]
In preparation for USMCA -- beginning enforcement as of July 1st, 2020 -- it is critical that all professionals along the supply chain stay informed. As such, we’ve been creating resources for importers to understand the implications of the new agreement on their operations. It should be noted that both [...]
What is a Post Summary Correction (PSC)? And why would you request one? In Customs and Border Protection’s (CBP) words: “Submission of a PSC is the sole method for trade to electronically correct entry summaries prior to liquidation.” This means that a PSC allows the importing party to modify their [...]
Staying apprised of the regulatory/compliance shifts in trade is integral to all businesses in the logistics, supply chain, importing, and exporting space. As such, we’ll be providing an overview of changes in trade compliance -- on a global scale. As the past few months have made for a rocky road [...]
For textile export/import professionals, it’s common knowledge that the US is a major exporter of textiles (actually, the second largest!), but for others in the trade and logistics industry -- maybe not so much. The US is second to only China in textile exports. Textile exporting accounts for a healthy [...]
Last year, Customs and Border Protection (CBP) proposed a rule to bolster the process of verifying importers that operate in the US. As described by CBP, the “Customs Broker Verification of an Importer’s Identity” rule will amend CBP regulations to require certain information from importers so that brokers can verify [...]
