Trade Policy Is Changing Rapidly—Prepare Your Business for What’s Next

Trade policies are shifting faster than ever, with new tariffs, complicated regulations, and heavy enforcement measures impacting businesses across industries. If you are an importer, staying ahead of these changes is critical to maintaining smooth operations and avoiding financial setbacks.

With trade policy in flux, now is the time to ensure you are on solid footing by auditing your compliance strategies, reassessing tariff exposure, and ensuring your business is prepared for what’s ahead.

Audit Your Business Before CBP Does

Conducting an audit of your business to check for import compliance is an essential step to avoid costly penalties, thwart supply chain disruptions, and to minimize legal risk. An audit helps identify potential compliance gaps, ensuring that your existing business practices are in compliance with all applicable regulations. It also allows businesses to proactively address issues before they escalate.

Import Report Card

Diaz Trade Law can provide a customized ACE report card to give you an overview of your import compliance. The report contains a summary of your import transactions and identifies potential issues in your business’ processes as well as substantive recommendations to ensure compliance. The report provides information like:

  • Your last 5 years of import history
  • List of HTS’s you use
  • Total amounts paid in AD/CVD
  • Manufacturer ID’s reported to Customs
  • Inconsistencies in reporting
  • Total value of imports and duties paid by year
  • Review of countries of origin of your imported merchandise
  • Use of Free Trade Agreements
  • Your surety, bond coverage, and bond type
  • And more!

Lastly, the Report Card service […]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

 

 

 

 

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Export Controls and Cybersecurity

Introduction

In order to protect U.S. national security interests and promote foreign policy objectives, various U.S. agencies collectively administer and enforce U.S. export control laws and participate in various multilateral export control regimes to prevent the proliferation of weapons of mass destruction and prevent destabilizing accumulations of conventional weapons and related materials. To that end, the U.S. Department of Commerce’s Bureau of Industry and Security (BIS) governs the export and reexport of commodities, software, and technology falling under the jurisdiction of Export Administration Regulations. BIS promotes continued U.S. strategic technology leadership and is responsible for enforcing the regulation of export, reexport, and transfer of items with commercial uses that can also have a dual use, and be used in conventional arms, weapons of mass destruction, terrorist activities, or human rights abuses, and less sensitive military items, which bleeds into cybersecurity as well.

Cybersecurity has recently become an essential aspect in export controls and on October 21, 2021, BIS published its Interim Final Rule (this rule is effective January 19, 2022), which summary states:

SUMMARY: This interim final rule outlines the progress the United States has made in export controls pertaining to cybersecurity items, revised Commerce Control List (CCL) implementation, and requests from the public information about the impact of these revised controls on U.S. industry and the cybersecurity community. Specifically, this rule establishes a new control on these items for National Security (NS) and Anti-terrorism (AT) reasons, along with a new License Exception Authorized Cybersecurity Exports (ACE) that authorizes exports of […]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

BIS 

  • On January 14, 2022, the Bureau of Industry and Security (BIS) issued a notice of information collection regarding a Defense Production Act requirement for U.S. firms to furnish information to the agency regarding offset agreements exceeding $5,000,000 in value associated with sales of weapon systems or defense related items to foreign countries or foreign firms. BIS is soliciting public comments to help evaluate if the proposed information collection is necessary for the proper functions of the Commerce Department, evaluate the accuracy of their estimate of time and cost burden, evaluate ways to enhance the quality, utility, and clarity of the information to be collected, and to minimize the reporting burden.
    • Comments are due no later than March 15, 2022.

CBP 

DOT 

  • On January 13, 2022, the Federal Motor Carrier Safety Administration […]

Customs and Trade Law Weekly Snapshot

Here is a recap of the latest customs and international trade law news:

Apparel

  • Nike has ended 2021 as the most valuable apparel firm globally. According to data presented by FinancePR.com, the American outfit achieved a $30.44 billion valuation in 2021, placing it at the helm of the top ten garment firms worldwide.

CBP 

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