Ascent Global Logistics Blog

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Modification to S301: 10 Percent to 15 Percent

Posted by Ascent Global Logistics on Aug 30, 2019 5:20:59 PM

Modification to S301 Tariffs: 10 Percent to 15 Percent

The highly anticipated Federal Register notice was published today, confirming that "List 4A" of the S301 will go into effect on September 1, 2019 at the rate of 15 percent for the products of China covered by the $300 billion tariff action. On August 20, 2019, 84FR43304 was published, stating that Annex A would be 15 percent effective September 1, 2019 and Annex C would be 15 percent effective December 15, 2019.

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Topics: International Freight Forwarding, Tariffs, International Trade

Section 301 Tariff Update: Increases Announced for List 3 and List 4

Posted by Ascent Global Logistics on Aug 27, 2019 6:10:54 PM

Section 301 Tariff Update: Increases Announced for List 3 and List 4

In an announcement on Friday, August 23, 2019, the USTR (United States Trade Representative) advised that Section 301 List 3 tariffs will be increasing from 25 percent to 30 percent effective October 1, 2019, following a notice and comment period. List 3 is comprised of approximately $250 billion worth of Chinese imports and was first implemented on September 24, 2018 at 10 percent. On May 10, 2019, the List 3 duty rate increased to 25 percent.

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Topics: Import, International Freight Forwarding, Tariffs, International Trade, International

How to Navigate TFTEA and NAFTA Regulations During the Duty Drawback Process

Posted by Ascent Global Logistics on Aug 20, 2019 10:11:53 AM

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. Section 906 of TFTEA made a comprehensive set of changes to drawback claim filing. Even though TFTEA was only signed into law in 2016, it is necessary to know these recent changes since it greatly effects the drawback application process.

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Topics: Regulatory Compliance, Export, Import, International Freight Forwarding, Tariffs, International Trade

4 Key Tips for Filing Duty Drawback

Posted by Ascent Global Logistics on Aug 13, 2019 12:20:30 PM

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. There are strict time frames that must be abided by and record keeping is imperative. The duty drawback regulations have changed recently due to TFTEA (Trade Facilitation and Trade Enforcement Act) and manual claims are no longer accepted, however Ascent Global Logistics can help you get your duty drawback claim filed electronically under the new regulations. 

Below are a few tips and tricks from the Ascent Global Logistics Duty Drawback team on how to get started and participate in duty drawback. 

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Topics: Regulatory Compliance, Export, Import, International Freight Forwarding, Tariffs, International Trade

List 3 Product Exclusions

Posted by Ascent Global Logistics on Aug 7, 2019 10:43:32 AM

Breaking News: Product Exclusions Granted for List 3

On August 5, 2019 the USTR (United States Trade Representative) announced that product exclusions have been approved for S301 List 3 duties. The product exclusions are broken into ten new product-specific descriptions such as certain plastic containers, pet cages, shopping carts and inflatable kayaks and boats.

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Topics: International Freight Forwarding, Tariffs, International Trade

Duty Drawback: A 101 Guide

Posted by Ascent Global Logistics on Jul 18, 2019 10:12:00 AM

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. Duty drawback, however, is one of the most complicated commercial programs managed by CBP. Thus, it is important to have a clear understanding of all facets of how the program works and develop a relationship with a reputable drawback broker, who can help you navigate the rules and international laws.

The team at Ascent Global Logistics is ready to help you work through these complexities by determining if your situation qualifies for the Drawback Program.

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Topics: Regulatory Compliance, Export, Import, International Freight Forwarding, Tariffs, International Trade

PierPASS Rate Increase

Posted by Ascent Global Logistics on Jul 17, 2019 10:51:24 AM

PierPASS Rate Increase

PierPASS was established as a not-for-profit company in Los Angeles/Long Beach in 2005 with a goal of addressing multi-terminal congestion issues. The terminals began to have peak hours and non-peak hours, which helped the flow of trucks coming into the ports to pick up containers. The Traffic Mitigation Fee (TMF) was assessed on each truck that came in during “peak” hours, encouraging more movement at off-peak hours, evening hours. The strategy was to improve energy efficiency, air quality, safety and security as well as congestion in the ports.

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Topics: International Freight Forwarding, Tariffs, International Trade

Q2 International Trade Recap

Posted by Ascent Global Logistics on Jul 9, 2019 1:55:14 PM

Q2 2019 brought many updates to tariffs, regulations and more in the international trade industry. We've compiled a recap of all of the must-know trade updates for importers and exporters as we embark on Q3.

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Topics: International Freight Forwarding, Tariffs, International Trade

S301 List 3 Tariff Exclusion Requests

Posted by Ascent Global Logistics on Jun 24, 2019 4:57:22 PM

International Trade News: S301 List 3 Tariff Exclusion Requests

According to a notice issued by the Office of the United States Trade Representative last week, requests for S301 List 3 exclusions may be submitted between June 30, 2019 and September 30, 2019 through the USTR website, which will be available on June 30. Once a requester is registered, they may complete one or multiple exclusion requests. The notice provides a replica of the form and what information must be provided.

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Topics: International Freight Forwarding, Tariffs, International Trade

Mexico Tariffs Suspended "Indefinitely"

Posted by Ascent Global Logistics on Jun 12, 2019 4:06:56 PM

International Trade News: U.S. and Mexico Have Reached a Deal, Suspending Tariffs "Indefinitely"

The proposed additional five percent tariffs on goods from Mexico that were set to go into effect on June 10, 2019 have been "indefinitely suspended" due to a deal between the U.S. and Mexico, which occurred on Friday, June 7, 2019. According to the U.S. Department of State, the U.S. and Mexico will commit to strengthening bilateral cooperation and implementing Migrant Protection Protocols. 

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Topics: International Freight Forwarding, Tariffs, International Trade