ISF Enforcement Update

Correct, complete, and timely Importer Security Filing (ISF) is a crucial element of the import process for anyone bringing goods into the United States.  Properly filed ISF documents help U.S. Customs and Border Protection (CBP) to ensure the safety of the United States while disrupting international as little as possible. 

Global Trade: Year in Review

As the year 2012 comes to a close this evening, it brings to mind some of the more exciting and tumultuous events that occurred in the global trade community this year.  

Hurricane Sandy

Hurricanes are never a small problem. The destructive winds, rain, and surges they carry across large swaths of coastline are only a portion of the problems they pose.  The after-effects of a hurricane can be just as damaging as the storm itself.  

What is ACE?

US Customs and Border Protection (CBP) is hard at work developing and improving the new Automated Commercial Environment (ACE) system.  Since many who work in the global trade arena will be affected to some extent by its implementation, it makes sense to understand a bit more about it.  

Global Trade Trends Vol 2

This has been an exciting, even tumultuous quarter for global trade.  Several major events have rocked the community recently, and three of these events come to mind as being particularly momentous.  

Panama Canal Will Graduate to Three Lanes

The construction of the Panama Canal was one of history’s most impressive engineering accomplishments. The swath cut through the American continents has forever altered the routes of oceangoing commerce. 

Merchandise Processing Fee Increased

Supplemental duty bills are one of the many Customs duties that can cross an importer’s desk.  Improperly classifying goods can result in one of these bills; so can the results of a pending anti-dumping or countervailing ruling,

Global Trade Trends

2012 has been somewhat of a rollercoaster year for global trade.  Let’s take a moment to highlight some of the game-changers we’ve seen since January.  

Headn’ South for a Good Ole’ ICPA

What’s your favorite time of year?  The Holidays, your child’s birthday, tax season, anytime it snows?  For the international trade community, the International Compliance Professionals Association’s (ICPA) annual conference is a highlight of the year.  It’s a conference you can count on to provide you with top education and networking opportunities available in the industry.  If you haven’t been before, it’s time to start planning to attend.

 

2012 Conference: Atlanta, Georgia: March 18^th – 22^nd   Click here to register!

Sessions Range From:  ACE, Achieving Consistent HTS Classifications, Ask the Legal Eagles, Avoiding Import Mistakes, Broker Management, Internal Compliance, Export Audits, Incoterms

 

2013 Conference: Honolulu, Hawaii

 

Spread the word!  Visit http://icpainc.org/ to learn more and become a member!

 

TRG is a proud sponsor of the International Compliance Professionals Association.

Where the ‘Cool Kids’ will be in 2012

By Kelby Woodard

The year 2011 will undoubtedly go down in the record books as an uneventful one for the global supply chain, which was exactly what most of us were looking for after the economic tumult of the previous few years.  In regards to supply chain security, however, we should be prepared for a very interesting 2012.  A few events in 2011 point to a very fun year if you like a little excitement with your supply chain.

By far the most interesting event of 2011 was the ‘Occupy the Ports’ movement.  These misguided protestors intended to shut down the West Coast ports and bring attention to the supposed harm our global supply chain inflicts on the American economy.  Fortunately, the immediate effect on the movement of goods was negligible to slightly annoying.   The biggest winner in these protests was the security teams in the ports, who were fully prepared and acted in a highly professional and effective manner.  The plans and procedures implemented in the years following September 11^th were vital during these protests.  I predict that the ‘occupy’ movement will continue to try to convince Americans that the global supply chain does not in fact create jobs, or help keep inflation in check, or actually create prosperity.  As a result, the actions of the Occupy movement in 2012 could prove to be interesting for those of us who thrive on solving complex supply chain security problems.

Wal-Mart recently revealed that they are conducting an internal investigation focused on possible violations to the Foreign Corrupt Practices Act (FCPA).  When the world’s largest commercial supply chain publically recognizes that it may have issues with corruption and fraud at high levels, you can bet it will be headline news in 2012.  That in turn will mean a renewed focus on ensuring the integrity of every supply chain operation.  In case you think only the mighty are affected, take a look at what happened at Fry’s Electronics in 2011.  Former Fry’s executive Ausaf Siddiqui was sentenced to six years in prison for receiving over $65 million in kickbacks from vendors.  Siddiqui was a highly respected sourcing executive and was able to perpetrate his crimes over many years.  Is it surprising that with the billions of dollars being spent on commercial supply chains that no one may be tempted to earn more than their fair share?  With a little focus on the part of supply chain security teams, more similar revelations are likely to manifest themselves in 2012.

Finally, there is China.  The Conference Board (one of the most prominent business forecasting organizations in the world) predicts China’s economic growth will gradually slow to 3.5% from 2017 to 2025.  While that may not sound too catastrophic, anything less than a 9% growth rate in China will inevitably result in social instability.  After trillions of stimulus dollars spent by the Chinese government (that may sound familiar), the flexibility to respond to economic downturns will be extremely limited in the coming decade.  We may witness the slow decline of China’s preeminence in global trade beginning in 2012.  The result would not only have a tremendous impact on the global economy, it may also shift significant supply chain risk to the ‘world’s factory’.

That’s why the ‘cool kids’ will be hanging out in supply chain security in 2012.

All Rights Reserved--Trade Innovations, Inc. 2012