Knowledge Center Blog
Brexit Impact will be felt far beyond Europe
The impact of Brexit goes far beyond Europe, as the UK is free to set its own customs tariffs, trade defense measures and trade agreements with the rest of the world.
What is a Binding Rule?
When goods are imported into the United States, they are subject to certain formalities involving Customs and Border Protection (CBP). Commodities are typically required to be “entered,” or declared to CBP, and are subject to scrutiny by Customs officials to ensure...
What are Antidumping and Countervailing duties?
Antidumping (AD) and Countervailing (CV) duties are additional fees that the United States Department of Commerce (DoC) uses to discourage demand for products deemed to be import sensitive. AD/CV duties are one of the mechanisms that the U.S. government uses to help...
Why Is An Accurate Tariff Database Important?
With an accurate, and up-to-date, tariff database, shippers can reliably approximate the duty rates on their products to better gauge potential costs in their supply chain. Experts and brokers can also use a tariff database to assist in the classification of their products.
What Is A Customs Duty?
A customs duty is a tariff or tax levied on goods when transported across international borders. Customs duties are imposed in order to protect a country’s import and export revenues by controlling the flow of goods into and out of the country. While revenue is the...
What are Export Control Classification Numbers?
An essential step in export compliance is determining whether a license is required from the Department of Commerce to export a commodity. This is done by ascertaining whether the item has a specific Export Control Classification Number (ECCN). Export Control...
What is the Denied Party Screening Process?
Falling under the need to demonstrate reasonable care, denied party screening and restricted party screening is undertaken to comply with the safety standards of the governments and agencies worldwide.
2018 Highlights: Designations & Sanctions Overview
2018 has already been active for U.S.-based sanctions and Denied Party Screening (DPS) with changes coming at an increasingly rapid pace. So far this year, the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) acted on a number of items...
What Is A Free Trade Agreement?
Free Trade Agreements (FTA) are negotiated agreements between two or more countries whereby each cooperate and agree on certain obligations that affect trade in goods and services.