Trans Pacific Trade Contract Rates Increased

Trans Pacific Trade Contract Rates Increased

Trans-Pacific Trade Contract Rates Increased by 20 percent.  Freight rates for annual ocean carrier contracts increased 20% in the trans Pacific trade in recent negotiations conducted by the largest US Importers. They are signing the contracts at about $2250 and $1250...
Miscellaneous Tariff Bill ACT 2018

Miscellaneous Tariff Bill ACT 2018

How to know if your product is duty free or has reduced duties under the MTB Act of 2018? The Miscellaneous Tariff Bill (MTB)  ACT of 2018 was signed and approved into law on Sept 13th 2018.  The purpose of the law is to reduce or suspend duty rates for imports of...
Exemption Under Section 301

Exemption Under Section 301

How to determine Exemption Products from Section 301 Duty The USTR (United State Trade Representative) announced a list of exempted products from the section 301 China tariff, list no. 3. List 3 has 984 individual products exempted for the tariff.  The list includes...
Incoterms 2020 Updates

Incoterms 2020 Updates

Proposed Changes to expect in Incoterms 2020 The International Chamber of Commerce (ICC) has drafted proposed changes to the new Incoterms 2020. Incoterms (International Commercial Terms) were first developed by the ICC in 1936 in attempt to simplify communication...
US to revoke India and Turkey from GSP

US to revoke India and Turkey from GSP

President Trump announced removal of India and Turkey from GSP US President Donald Trump announced his Intent to revoke India and Turkey from Generalized System of Preferences (GSP) on March 4th.  GSP is preferential tariff system which provides reduced tariff rates...
Harmonized Tariff Schedule Released

Harmonized Tariff Schedule Released

2019 US Customs and Border Protection Harmonized Tariff Schedule Released The United States International Trade Commission (USTIC) has released the 2019 Harmonized Tariff Schedule that went into effect January 1, 2019. To access the latest version, please...