According to the Associated Press, President Obama is seeking to merge six trade and commerce agencies. They are: The Commerce Department's core business and trade functions; the Small Business Administration; the Office of the U.S. Trade Representative; the Export-Import Bank; the Overseas Private Investment Corporation; and the Trade and Development Agency. The goal would be one agency designed to help businesses thrive.
What is an HTS Code?
The first hurdle that importers face when importing a new product is to answer the most basic question: what is it? Everything from apples to shoelaces needs to be classified by a number recognizable to the importing government. This number is of course, the Harmonized Tariff Schedule Code (HTS Code). Assigning an HTS code may seem like a simple step, but it is the most important considering the risks associated with getting it wrong.
If you have taken time to look at the preliminary 2012 Tariff that was recently posted to the USITC website, you may be wondering why many of the WCO changes are missing.
CiGDM and MK Data Services Team Up to Offer Prize
CUSTOMS Info (Ci), Global Data Mining (GDM) and MK Data Services, providers of trade data management services, are teaming up to offer one lucky ICPA member an all expenses paid trip to the 2013 International Trade Compliance Professionals Association (ICPA) Conference in Honolulu, Hawaii.
According to a US Imigration and Customs Enforcement news release, three people in Jacksonville, FL have been arrested for misclassifying Chinese honey as rice fructose in order to avoid more than $1 million in duties. They have been indicted in federal court on charges related to smuggling goods into the United States and providing false descriptions of the merchandise.