Juno Blog
Aluminum Import Monitoring Program
The US Commerce Department has implemented a new reporting program for imports of some aluminum products. The Aluminum Import Monitoring and Analysis System, or AIM, will require additional data elements to be reported. We must now declare the country of largest smelt, country of second largest smelt (if any), and country of most recent cast.
GSP Current Status & Future Planning
The Generalized System of Preferences (GSP) program expired at the end of 2020 leaving the duty-free treatment of certain US imports from developing countries in limbo. Congress could renew the legislation reinstating regulations retroactively, though that action would have to be specifically addressed in the reauthorization.
Transition from NAFTA to USMCA
In May 2020, the Office of the US Trade Representative stated enough compliance measures had been taken by participating countries to allow the United States-Mexico-Canada Agreement (USMCA) to go into effect July 1, 2020. Importers who have not claimed NAFTA on shipments made between July 2019 and June 2020 are still allowed to file post-entry claims for refunds based on NAFTA until June 30, 2021.
What You Should Know About Incoterms®
What are Incoterms®?
Incoterms® (International Commercial Terms) are a set of globally recognized trade rules, guidelines and shipping terms published by the International Chamber of Commerce (ICC). Originally issued in 1936, Incoterms® have been regularly updated to address changes in the international trade industry. The latest revision went into effect January 1, 2020.
General Rules of Interpretation: How to Determine HTS Codes
The Harmonized Tariff Schedule of the United States (HTSUS or HTS) is designed so imported products can be classified with specific codes. To accomplish this, the tariff is governed by six rules known as the General Rules of Interpretation (GRIs). To determine an accurate classification, the first four GRI rules must be applied in sequence. In this article, GRIs are outlined briefly in plain language.
US Exports: A Guide to Classifying Products
Products going in and out of the United States are monitored for economic, statistical, and safety reasons. Part of this is accomplished by requiring each shipment to be classified with a specific identification code. For imports, this is the Harmonized Tariff Schedule of the United States (HTSUS or HTS), published and maintained by the US International Trade Commission.
Why Is Product Classification So Important?
Most importers know the duties applied to goods coming into the United States is determined by how a product is classified. What they may not realize, however, is that the responsibility for properly classifying goods falls on the importer themselves. Customs penalties can arise for any number of reasons.
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