As the United States prepares to enter week three of a partial government shutdown, importers, exporters and trade agencies are beginning to feel the impacts. Typically, organizations such as the Federal Maritime Commission (FMC) and US Customs and Border Protection (CBP) would be in high gear. However, many of these agencies are operating at reduced capacity due to the discontinuation of non-essential services.
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.
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.
Is your company importing goods into the United States or considering importing in the future? To import successfully, the importer must have a customs bond on file with U.S. Customs and Border Protection (CBP). Customs bond compliance can be simple, but there is important information every importer should be familiar with.
A final rule was recently published in the Federal Register, impacting all ITAR (International Traffic in Arms Regulations) and all BIS (Bureau of Industry and Security) controlled exports. Effective November 15, 2016, all ITAR or BIS controlled exports will be required to list a revised Destination Control Statement (DCS) on the commercial invoice.