Let’s face it: getting money back is not always “common cents.” While Duty Drawback can be accessible, it is still a very long and complex process to receive Duty Drawback from your import activities. However, the right blend of technology and people can help!
Topics: International Freight Forwarding
While the trade world has been focusing on the S232 and S301 remedy tariffs, the Miscellaneous Tariff Bill of 2018 has been quietly implemented. This has allowed for a temporary reduction or suspension of import tariffs paid on particular imported items into the United States.
When is the last time you found a few random quarters lying around your house? Was it last week? Last month? Last year? One can only image how satisfying it was to find extra change lying around. Ultimately, that day was probably a very good day for you…
In 2018, the S232 and S301 tariffs have increased duty payments to Customs and Border Protection (CBP) by up to 25 percent. Ultimately, this affects the daily duty payments to CBP and the subsequent billing from Ascent Global Logistics. We predict that duty outlay could be up to six times more per month than in months previous to the S232 and S301 tariffs.
The duty liability for the importer is increasing. To better manage this duty outlay as well as credit terms with their broker, importers are encouraged to apply for and begin managing their own duty payments to CBP with the assistance of their broker through the statement process.
In recent years, the United States government and Customs and Border Protection (CBP) have taken a closer look at goods imported into the United States that are potentially made from forced labor or child labor. The goal of this increased scrutiny is to ensure the United States is involved in a fair and competitive trade environment.
In May 2016, the American Manufacturing Competitiveness Act was enacted, which established a new process for “the submission and consideration of petitions for temporary duty suspension and reductions.”
What is the Generalized System of Preferences (GSP) trade program? What is the current status of the program? What countries are involved? What are some examples of GSP eligible products? Read below for answers to these common importer questions and more.
As 2017 closes and another New Year approaches, our team has worked to compile a list of things shippers should be planning for in 2018.
When importing products into the United States, some commodities are subject to Non-Tariff Barriers, which include quotas, licenses, subsidies and additional duties. These barriers are designed to discourage demand of an imported product, protecting domestic producers from foreign competition.
Maersk confirmed yesterday that its IT systems are currently down due to a widespread cyber attack. The attack, similar to the recent "WannaCry" attack, targeted various firms, airports and government departments around the globe through the use of ransomware. Below are the most recent Maersk, port and terminal updates.