Managing Imports and Exports
Managing Imports & Exports is the leading source of information on customs policies and procedures, BIS rules and regulations, and how best to enhance your compliance programs. Managing Imports & Exports provides “best in class” practices for developing a successful international trade program, reducing international risk, streamlining costs, and managing your department and career. Each issue includes expert advice on import and export management best practices, the latest updates on trade policies and duty issues, timely information to help you respond to recent customs alerts and concise how-to tips to successfully manage your import/export operations while controlling costs.
March 2009 - Table of Contents
Despite dire warnings that with Democrats in control of the White House and Congress the U.S. free trade agenda would grind to a sudden halt, it now looks as though 2009 could see the opposite. On January 16, then President-elect Obama announced the goal of winning Congressional approval for Free Trade Agreements (FTAs) with Colombia, Panama and South Korea. All three agreements have long been stalled in Congress.
This article’s goal is to help global trade executives leverage today’s difficult economic conditions into a catalyst for fast and significant process improvement to eliminate millions of dollars in unnecessary hidden costs.
Many trade pros currently have a dilemma when it comes to automating global trade processes. On the one hand, automation of key trade functions is more essential than ever to remaining competitive in today’s challenging global markets—and to ensuring compliance with ever more stringent U.S. and foreign nation trade security regulations. On the other hand, CFOs—faced with soaring costs of borrowing and falling revenues—are very reluctant to make capital investments in automation solutions in today’s struggling economy.
As U.S. trade pros are well aware, global trade is posting sharp declines. Other nations’ exports have suffered as the United States—the world’s biggest importer—registered a decline of close to $50 billion in imports between July and November 2008 alone. The United States, the world’s second-largest exporter, saw exports fall by about $25 billion for the same period. The Wall Street Journal has calculated that for a group of 43 major trading nations exports peaked at $1.03 trillion in July 2008, dropping 26 percent to $766 billion by November 2008.
IMPORTER SECURITY FILING (“10 + 2”). San Jose, Calif., March 2; Chicago, March 18; Newark, N.J., April 14; Raleigh, N.C., April 28. Contact: www.theworldacademy.com.
EXPORT OPERATIONS, CONTROLS, LICENSING. Tampa, Fla., March 2-4; Philadelphia, March 16-18; Nashville, Tenn., March 23-25. Contact: www.unzco.com.
C-TPAT. San Jose, Calif., March 3; Chicago, March 17; Newark, N.J., April 14; Raleigh, N.C., April 28. Contact: www…
By the time this issue of MIE reaches trade pros, the mandatory start date for filing Importer Security Filings (ISF) under the “10 + 2” rule will have come and gone. Jan. 26, 2009, was the implementation date for filing the extra import data elements with U.S. Customs & Border Protection (CBP). Trade pros wrestling with the “10 + 2” compliance challenges will find valuable information in a survey conducted by the International Compliance Professionals Association (ICPA, www.icpainc.org).
The Rise of the 4PL: Partnering to Gain Competitive Advantage ACE: What’s on Tap for 2009 to Further Automate Your Trade Functions A ‘Paradigm Shift’ in Enforcement of the Foreign Corrupt Practices Act Dealing With Preshipment Inspection Requirements in Global Markets Drawback Reform: What the Changes Mean for Your Import-Export Functions…
U.S. IMPORTS AND EXPORTS DOWN SHARPLY
For once, a record drop in the U.S. trade deficit was not good news. While the politically sensitive deficit was down fully 29 percent to $40.4 billion in November (the smallest monthly trade gap since 2003), the key reason was a sharp drop in U.S. imports. …
MIE’s ‘Ask the Experts’ team—Alan Gaudio, Robert Imbriani, and Joseph Zodl, consultants for Unz & Co.—answer readers’ import- or export-related questions. This month’s column is by Joseph Zodl, author of Export-Import: Everything You and Your Company Need to Know to Compete in World Markets (to order, call 800-474-8013 or visit www.zodl.net). Readers may submit questions to: cdhorner@ioma.com.
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