President Trump touted that tariff was one of his favorite words and he has been doing everything in his power to have additional tariffs stick on certain products and/or countries since the beginning of his second time in office. Earlier this month, the White House hosted a Small Business Summit. I saw some of the…
When a Shipment Becomes a Crisis and How Export Violations Can Cripple a Company What do General Electric Company, Precision Castparts, RTX, and 3D Systems Corporation all have in common? If you said they all have a public settlement for allegations of violating ITAR regulations, you’re right! In global trade, there’s always pressure to move…
Well, the day has come that every importer has been holding their breath for… the ability to get back the IEEPA refunds that had been paid. On April 20, CBP’s CAPE system became available for importers or customs brokers to file for refunds under Phase 1, after SCOTUS ruled that the IEEPA tariffs were illegal….
When I think about artificial intelligence, my mind goes straight to the movies. Blade Runner, The Terminator, RoboCop, and of course, Johnny Five from Short Circuit. “Johnny Five is alive!” Still one of the best lines. More recent films like Ex Machina and Her push the idea even further, showing AI as something deeply embedded…
Your import bond is not just a formality or a good-looking paper to wave around showing your friends. It’s your license to operate, it’s your bond, shaken not stirred. Ok, maybe a few too many 007 references, but let’s clear some things up about CUSTOMS BONDS! An import bond is not just a box you…
Well, the moment we have all been waiting for since November 5 has finally arrived. Can we stop holding our breath now? SCOTUS issued their opinion on the IEEPA tariffs In the 170-page document , it covers the Supreme Court opinion addressing whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose…
If you ever received a refund from CBP, you would typically receive a paper check mailed to you. But get ready, changes are coming and very soon. No longer will you see that check from the US Department of Treasury, refunds will be issued electronically. The interim final rule goes into effect on February 6,…
The Confusing World Of Export Compliance Sometimes the regulations can be confusing and unclear about how to accomplish the tasks required to remain export compliant. One of these examples is Restricted Party Screening, where screening for denied or restricted entities is one of the most crucial risk management tasks within export compliance. All people, even…
Often, when we think of export compliance, our focus is on the Shipping Department and boxes going out the door. But did you know that OFAC recently settled with a Chicago Private Equity fund for $11.48M? This firm had been managing a $50M investment that had ties to Suleiman Kerimov, a sanctioned Russian oligarch and…
This year has been exceptionally challenging for importers. From the outset, new tariffs appeared to be implemented almost daily, with China-related tariff rates changing multiple times—sometimes within a single day. Keeping pace with these developments has proven difficult even for the most experienced trade professionals. Compounding the uncertainty were a series of legal challenges surrounding…