Duty drawbacks have been around for a long time, and were first established in 1789. They were put in place to boost production and trade of goods for American manufacturers. Interestingly, these duty drawbacks are still used today, though there have been some changes and additions from Congress over the [...]
If you’re in the business of importing and exporting, you’ve probably heard of landed costs. You’ve probably also heard that they’re vital to your shipping operations. But what is a landed cost? Why is it so important to do total landed cost analysis? We’ll define landed cost, help you with [...]
A hot topic in the news these days is the trade relationship between U.S. and China. It’s an interesting, if not slightly troubling, time for global economists, investors, importers and retailers. There are currently high import tariffs from China to the U.S., and vice versa. For Americans, importing from China [...]
The trade relationship between the U.S. and China has been heating up for over a year. Currently, both countries have placed high import tariffs on each other. China and the U.S. are the two biggest economies in the world, so people all over the globe are paying attention. In part [...]
The USMCA Story So far Up until recently, NAFTA (North American Free Trade Agreement) was the trade deal that Canada, Mexico and the United States jointly agreed upon. NAFTA was fully established in 1994 with the goal of eliminating trade barriers and encouraging investments between the three countries. The pros [...]
We don’t think there’s anyone in this world who enjoys going through customs. Sure, the excitement of traveling can sometimes ease the pain, but most people would like to get it over with as quickly as possible. Unfortunately, going through customs simply takes as long as it takes and there’s [...]
Trade shows can bring many new and unique challenges for businesses. Whether you’re an experienced importer/exporter or not, participating in a trade show can leave you scratching your head. You may have heard that using a temporary import bond is the right way to go, but what exactly does that [...]
When traveling, it makes sense to many people to carry some cash on them. You never know when you’ll encounter a vendor who doesn’t accept debit or credit. Other times, travelers may choose to exchange their money to foreign currency before they leave. Whatever the reason, traveling with cash is [...]
When you’re shopping online or planning to import a common household item into the United States, you probably aren’t wondering whether it’s banned or not. After all, companies like Amazon or Ebay regulate these things and U.S. citizens have a lot of freedom in what they’re allowed to import. If [...]
What are Tariff Preference Levels? Under both NAFTA and the upcoming USMCA, garment and apparel products made in either the U.S., Canada, or Mexico fall under the free trade agreement. The trade of these products between NAFTA countries is, to some extent, duty free or exempt from some duties. These [...]
