GSP Renewal Signed into Law The renewal of the Generalized System of Preferences (GSP) program was signed into law H.R. 1295 last week by the President which renews GSP and refunds tariffs paid on eligible imports. GSP should enter into effect again on July 29 – almost 2 years to the day since it expired. Now that the bill is law, Customs will issue specific instructions … [Read more...]
The Latest with ACE
The Latest with ACE ...From ACE: Information Notice for the Trade Community - ACE Deployment E U.S. Customs and Border Protection (CBP) is working to complete the development of core trade processing capabilities in the Automated Commercial Environment (ACE) and decommission corresponding capabilities in legacy systems by the end of 2016. This notice documents the new … [Read more...]
For US Importers – GSP Reinstated by Congress???
For US Importers - GSP Reinstated by Congress??? Legislation was introduced that would reinstate the GSP (Generalized System of Preferences) program through December 31, 2017 and allow for duty refunds to eligible products imported while the program was suspended. The GSP program reduces tariffs on imports from nearly 130 countries and expired on July 31, 2013. American … [Read more...]
Incoterms 2010 Revisited
Incoterms 2010 Revisited We previously published an Incoterms Overview - A simple detailed guide to understanding Incoterms that includes images and charts. It explains the what & why as well as the letter's for each category of Incoterms - C, F, E, & D. The timing of Incoterms 2010 -> This latest version was launched in September 2010 but went into effect on … [Read more...]
West Coast Ports: Contract is Ratified
West Coast Ports: Contract is Ratified U.S. West Coast ports ILWU ratified a five-year contract with terminal operators and shipping companies, the union announced Friday. The new five-year labor pact, which runs through June 2019 is retroactive to July 2014. This formally ends the labor conflict that slowed the movement of goods at the country’s largest gateways to an … [Read more...]