Ascent Global Logistics Blog

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Duty Drawback for Imports: 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 exporters are refunded up to 99% of the customs duty that was previously levied upon imported merchandise. 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, Exporting, Importing, 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

India Removed from Generalized System of Preference (GSP)

Posted by Ascent Global Logistics on Jun 4, 2019 4:07:18 PM

India Removed from Generalized System of Preference (GSP)

Under Executive Order 11888 of November 24, 1975, President Gerald Ford designated India as a beneficiary developing country for the purposes of Generalized System of Preference (GSP), an action afforded by The Trade Act of 1974. The goal of this Trade Act was to promote economic growth in developing countries while also providing all presidents with the ability to withdraw, suspend or limit the duty-free treatment afforded, based on various factors including the country's assurance that it will provide "equitable and reasonable access to the markets and basic commodity resources of such country" as well as refraining from unreasonable export practices.

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Topics: International Freight Forwarding, Tariffs, International Trade

Tariff Updates: S232, S301 & GSP

Posted by Ascent Global Logistics on May 8, 2019 4:52:32 PM

S232 - Steel & Aluminum Tariffs (Worldwide Application)

S232 tariffs were ruled “constitutional” in March of this year by the Court of 

International Trade. With this ruling, the S232 tariffs are expected to continue into the foreseeable future. Since the tariffs went into effect in March of 2018, there have been over 50,000 steel and aluminum exclusion requests made and the Bureau of Industry and Security has approved just over 25,000 through mid-March of this year. Click here to read more about S232 Tariffs on Aluminum and Steel imports.

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Topics: International Freight Forwarding, Tariffs, International Trade

TARIFF ALERT: S301 List 3 Tariff Rates Could Increase to 25%

Posted by Ascent Global Logistics on May 6, 2019 11:57:33 AM

On Sunday, May 5, the Administration announced that List 3 of the S301 tariffs, which are currently at 10% on $200 billion of Chinese imports, will be increasing to 25% effective Friday, May 10, 2019. Trade talks continue with China but are not progressing as hoped. 

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Topics: International Freight Forwarding, Tariffs, International Trade

S301 List 3 Tariff Rate Increase Postponed "Until Further Notice"

Posted by Ascent Global Logistics on Apr 2, 2019 9:30:11 AM

The office of the United States Trade Representative (USTR) recently issued a notice, officially "postponing" the tariff rate increase "until further notice." S301 List 3 tariffs will remain at 10 percent instead of increasing to 25 percent. The delayed increase is due to progress in US and China trade negotiations.

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Topics: International Freight Forwarding, Tariffs

TARIFF UPDATE: US Administration Plans To Delay Implementing S301 List 3 Tariffs

Posted by Ascent Global Logistics on Feb 25, 2019 1:24:29 PM

Over the weekend, the US Administration announced that it would postpone increasing S301 List 3 tariffs. The United States and Chinese President Xi Jinping plan to meet to reach a final trade agreement.

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Topics: International Freight Forwarding, Tariffs

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