Global Trade Content Blog

On May 14, 2012, President Obama signed the presidential proclamation that put the United States-Colombia free trade agreement into force. Designed to promote the flow of certain goods and services between the countries, the free trade agreement was years in the making.

According to the Office of the US Trade Representative (USTR), the tariff reductions in the Agreement will expand exports of US goods alone by more than $1.1 billion, supporting thousands of additional American jobs. The International Trade Commission also projected that the Agreement will increase US GDP by $2.5 billion. The Agreement will remove significant barriers to US goods from entering Colombia’s market, as over 80 percent of US exports of consumer and industrial products to Colombia will become duty free immediately, with remaining tariffs phased out over the next 10 years.

Because the agreement specifies changes in rules of origin and HS codes, Amber Road was anticipating the formalization with the necessary updates to its extensive body of trade content, known as Global Knowledge^®. Amber Road’s trade specialists constantly monitor government information feeds from around the world to ensure that the Global Knowledge^® database is kept current as trade regulations change.

In fact, the US-Colombia FTA is affecting 20,681 HS codes and 858 rules of origin. Amber Road’s customers will see these changes within 24 hours of the effective date of the agreement. No other vendor in the industry provides that level of service when it comes to trade content.

You can read the full press release here. To learn how Amber Road can help your company realize the benefits of an FTA program, check out our Trade Agreement Management brochure.

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A new white paper released today by Amber Road found that mid-market companies are increasingly at risk for violating U.S. export regulations. This is especially concerning because U.S. export volumes are on the rise. According to a recent U.S. Bureau of Economic Analysis report, U.S. exports grew 7.7% from January 2011 to January 2012.

Amber Road surveyed 150 mid-market companies about their export compliance processes. They found that 23% do not screen for restricted parties prior to engaging with trading partners and customers, and only 41% have a comprehensive export compliance program in place. Not surprisingly, survey respondents pointed to a lack of executive sponsorship as a primary reason for their companies’ trade compliance deficiencies.

To learn more, read the full press release, or download a copy of the white paper.

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• Amber Road's very own Anthony Hardenburgh is featured in Inbound Logistics, discussing recent changes to the Incoterms: http://t.co/VTj92C6s #

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• Trade Compliance: British Businessman Extradited to the U.S. to Face Export Violation Charges http://t.co/AdHJGPi2 #

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Join Amber Road and American Shipper on Wednesday, March 28^th at 2:00pm EDT, for a complimentary webinar: Export Reform Update – Focusing on the Four Singles.
 
The Obama administration’s initiative to reform export regulations is in progress and the effort is now centered on four key areas – known as the “four singles.”  This complimentary webinar will provide exporters with an update on the state of export reform and help them prepare for upcoming changes.  Key topics will include:

• A review of the “four singles”: Controlled items list, Licensing agency, Modern IT system, Enforcement agency
• What impacts these changes will have on exports
• What exporters should be doing now to prepare
• What role GTM technology will play

Webinar Panelists:

• Eric Hirschhorn, Under Secretary of the U.S. Commerce Department’s Bureau of Industry and Security
• Anthony Hardenburgh, VP of Global Trade Content, Amber Road
• Lindsay Meyer, Co-Managing Partner, Venable LLP
• Beth Peterson, President of BPE Global

Learn what your organization should be doing to focus on the “four singles.”  Register today!
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After losing an appeal in British courts, Christopher Tappin was extradited from the U.K. and brought to the U.S. on February 24^th.  Mr. Tappin, a British businessman, faces charges in connection with a scheme to illegally export parts used in Hawk surface-to-air missile systems to Iran.  On March 5^th, a United States federal grand jury indictment was handed down. Mr Tappin was charged with one count each for: conspiracy to illegally export defense articles, aiding and abetting the illegal export of defense articles, and conspiracy to conduct illegal financial transactions.  If convicted, Mr. Tappin faces up to 20 years in prison.
 
Mr. Tappin was investigated by The Bureau of Immigration & Customs Enforcement (ICE), which is an agency within the U.S. Department of Homeland Security.  ICE established a front company for the purpose of detecting potential illegal exports.  U.S. authorities allege that an associate of Mr. Tappin dealt with the front company to purchase items which were then exported to Iran via the Netherlands.
 
To read more about this case, click here.
 
This case illustrates the extent to which the U.S. government will go to convict people (and companies) that commit export violations.  It further demonstrates that anyone can be extradited and charged for violations of U.S. export control laws, regardless of their place of residency, and even if there are no equivalent laws in their country of citizenship.
 
Ensuring compliance with government export rules and regulations is a complex process.  Effectively screening against restricted party lists, determining license requirements, and generating the necessary documentation for a shipment is often a challenge for exporters.
 
Learn how your company can automate (and simplify) these complex processes.  Check out Amber Road’s Trade Export brochure.
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• Trade Compliance: New Trade Enforcement Agency Established – President Obama recently signed an executive order, est… http://t.co/9bm6A3OE #
• Trade Compliance: US–South Korea FTA Goes into Effect Tomorrow! http://t.co/S3yhCQmw #

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The US-South Korea Free Trade Agreement will go into full effect tomorrow, March 15, 2012.  With this FTA, roughly 80% of US exports of industrial products to South Korea will be duty free, while two-thirds of US exports of agricultural products will also become duty-free.
 
The International Trade Commission estimates that the reduction of South Korean tariff and non-tariff quotas on goods alone will add between $10 and $12 billion to the annual US GDP, and around $10 billion to annual merchandise exports to South Korea.  According to Ron Kirk, Ambassador of the U.S. Trade Representative, once the agreement goes into effect, it will open up South Korea’s $1 trillion economy and strengthen our economy’s partnership with a key Asia Pacific Ally.  To read more about the new free trade agreement, click here.
 
Is your company prepared to take advantage of this duty-saving opportunity?
 
The most common reason companies do not take advantage of FTAs is the administrative burden of identifying applicable FTAs and qualifying products. With over 100 FTAs in place around the world, manually administering trade agreements is understandably difficult. Global Trade Management solutions, however, can help you manage the solicitation and qualification process with your suppliers.
 
To find out how your company can automate this complex process and take advantage of the US-South Korea Free Trade Agreement, check out Amber Road’s Trade Agreement Management solution.

President Obama recently signed an executive order, establishing the Interagency Trade Enforcement Center (ITEC) within the U.S. Trade Representative (USTR).  The Obama administration is aimed at doubling exports by the year 2015, and this new agency will help facilitate that goal.
 
According to Ron Kirk, Ambassador of USTR, the ITEC is among the most significant commitment of resources and expertise since the establishment of the USTR. The purpose of the Interagency Trade Enforcement Center will be to coordinate U.S. trade rights under international agreements, monitor unfair trade practices, as well as identify and eliminate foreign trade barriers. These tasks will hopefully curb the production of counterfeit and unsafe goods and improve market access for U.S. exporters. The ITEC will also strengthen trade enforcement of intellectual property laws.
 
Chairman of the House Trade Working Group, Rep. Mike Michaud (D-Maine), said, “Signing this order brings us one more important step closer to the level of trade enforcement we need to counter the predatory practices of countries like China.”
 
Based on the signed executive order, the mission and function of The Interagency Trade Enforcement Center will be to:
 
(a) serve as the primary forum within the Federal Government for USTR and other agencies to coordinate enforcement of U.S. trade rights under international trade agreements and enforcement of domestic trade laws;
 
(b) coordinate among USTR, other agencies with trade related responsibilities, and the U.S. Intelligence Community the exchange of information related to potential violations of international trade agreements by our foreign trade partners; and
 
(c) conduct outreach to U.S. workers, businesses, and other interested persons to foster greater participation in the identification and reduction or elimination of foreign trade barriers and unfair foreign trade practices.
 

• Trade Compliance: Upcoming Trade Compliance Webinar – Join Amber Road on Wednesday, February 22nd at 2:00pm EST, for… http://t.co/sqIkT3NI #

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