Business.USA.gov is launched in beta form.
The Obama administration has launched a new website that consolidates resources for small businesses wanting to learn how to export. BusinessUSA, found at business.usa.gov, combines information and acts as a portal to approximately 20 different government agencies, including:
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Update on the New Trade Enforcement Unit
A couple weeks ago, I wrote a post about President Obama’s proposed trade enforcement unit. There are some updates to make.
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Go Global, but Go Smarter
Global Trade is growing fast. International trade has grown from $9 trillion in 2005 to $16 trillion in 2009. World trade is predicted to grow 7-9% annually. That would result in trade volume reaching $70 trillion by 2025. The global economy is the new reality, and businesses of all sizes can benefit from selling internationally. Now is the time to go global.
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Anatomy of an HTS Code
The Harmonized Commodity Description and Coding System (HS) is the mechanism by which international tariffs are standardized. Each country has its own Harmonized Tariff Schedule (HTS).
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HS Code versus Reality
The Harmonized Commodity Description and Coding System (HS) of tariff nomenclature is the standard by which International trade is classified. All existing products can be classified with an HS code by utilizing the General Rules of Interpretation. This is the idea anyway.
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Obama announces new Trade Enforcement Unit
If you didn't catch President Obama's State of The Union Address last week, you missed the announcement of a new Trade enforcement Unit. As part of his trade policy for the coming year, this new team of trade enforcers will allow the US to ensure compliance of fair trade practices. Below is an excerpt from the Presidents speech:
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Full 2012 HTSUS goes into effect Feb. 3, 2012
Up to this point, the International Trade Commission has only posted a preliminary version of the 2012 US-HTS that did not include the WCO international changes to the HTS nomenclature. They have officially stated on their website that the 2012 US HTS with the new nomenclature will go into effect on February 3, 2012. It will be published online 2-3 days in advance (Jan 31 or Feb 1).
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Thai Appointee on SDN List
Doing business with Thailand might get difficult now that one of the Prime Ministers appointees includes someone on the sanctioned parties list.
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12% rise in commercial services trade suggests import export business is growing
The World Trade Organization released a statement that according to its latest data, world exports in commercial services are rising. Data shows that commercial services increased by 12% in the third quarter of 2011 compared to the third quarter of 2010.
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Recordkeeping Requirements
There is often confusion about the rules for electronic recordkeeping. Trade professionals often ask questions like:
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