When you import goods to the United States, it is important that you adhere to certain guidelines set by the U.S. Customs and Border Protection (CBP). The importers need to accurately assess and declare the value of goods to the customs authorities before the arrival of the consignment. To ensure compliance, the officials may confiscate,… Read more : Importer’s Valuation Guide: How to Determine Customs Value for Duty
Importing and exporting commercial goods across the Canada-U.S. border can be a complex endeavor. Doing it right requires a solid understanding of and strict adherence to a litany of government regulations overseen by government agencies on both sides of the border. On the American side, U.S. Customs and Border Protection (CBP) is the gate-keeper. It… Read more : U.S. Customs Compliance. It’s important. What’s involved?
July 15, 2016
The Definition for the “Importer” May be Expanded for Importer Security Filings (ISFs)
The Importer under ISF is generally defined as the party causing goods to arrive within the limits of a port in the U.S. by vessel, but the regulations limits the definition to certain named parties for foreign cargo remaining on board, immediate exportation and transportation and exportation in-bond shipments, and for merchandise being entered into a foreign trade zone. The limited named parties though per Customs do not take into account commercial reality and designate the Importer as a party that has no commercial interest in the shipment. Full notice, including proposed definition is available at: https://www.federalregister.gov/articles/2016/07/06/2016-15687/definition-of-importer-security-filing-importer
Commercial Customs Operations Advisory Committee (COAC) Meeting
The Commercial Customs Operations Advisory Committee (COAC) will hold its next meeting on July 27, in Boston, MA. The agenda, along with detail on how to attend the meeting in person or via webinar is available at: https://www.federalregister.gov/articles/2016/07/11/2016-16359/commercial-customs-operations-advisory-committee-coac
Increasing Ocean Spot Rates
Containerized ocean freight rates are predicted to rise over the next 18 months but not enough to create profitability for carriers. Carriers are cutting capacity to recoup some losses. Three weekly transpacific lanes have been eliminated, Asia to Europe weekly services are down from 21 to 17 and Asia to South America is down from eight to three weekly services. With 2016 contract rates at al all time low, shippers are concerned that contract rate cargo may be rolled while carriers accept cargo from shippers paying spot rate prices. Additional details are available at: http://www.joc.com/maritime-news/container-lines/container-shipping-rates-forecast-rise-not-enough-stop-liner-losses_20160705.html
Federal Communications Commission (FCC) Data No Longer Required on Entries as of July 1, 2016
Effective July 1, 2016, FCC flags were removed by U.S. Customs to comply with the Federal Register Notice allowing the Trade to be exempt from filing FCC data. This requirement to file FCC data is based on the import date rather than the date of entry summary filing. If the import date is prior to July 1, 2016, the FCC data must still be provided on the entry summary. Imports after July 1, 2016 will not be required to supply FCC data.
Shippers Accept Fee at Oakland
Shippers are generally accepting to the $30 fee at Oakland terminals which allows the port to operate four night gates each week. 78% of survey respondents reported that evening gate hours are more effective than Saturday hours to relieve congestion. A large volume of cargo was shifted to Oakland International Container Terminal after Outer Harbor announced it was exiting Oakland earlier this year. Truck moves are up to 6,000 per day making OICT one of the busiest terminals on the west coast. Additional details are available at: http://www.joc.com/port-news/us-ports/port-oakland/oakland-fee-pay-night-gates-wins-acceptance_20160701.html
July 15, 2016
Status Update on European Union Free Trade Agreement and Ukraine Free Trade Agreement
As reported by CBC News, the Comprehensive Economic and Trade Agreement (CETA) between Canada and the European Union is on track for ratification in spite to the recent United Kingdom vote to leave the European Union. Full article from CBC News is available at: http://www.cbc.ca/news/politics/ceta-europe-trade-deal-1.3654857 . Prime Minister Trudeau has stated that a Free Trade Agreement with Ukraine is a priority, further detail is available in a Sputnik International article available at: http://sputniknews.com/politics/20160620/1041647404/canada-ukraine-agreement.html
Customs & Logistics News Story
Pertains to U.S.
Published in July 15, 2016 issue
Published in July 15, 2016 issue