Global trade management can be complex…and so can the terminology! We created a series of short videos to help you understand the basics. Last week we introduced the second video in the series, which focused on landed cost. This week we will focus on duties and tariffs.

In the third video of the series, we explain the difference between a duty and a tariff. Although the two words are often used interchangeably, they are quite different.

Last month, Amber Road hosted a popular webinar entitled, Growing Pains: The Challenge of Going Global. You can access a recording of this webinar on our Resource Library.

Our presenters, Marianne Rowden of the Association of American Exporters and Importers (AAEI), Jim Sebastian of Wyle CAS Group, and Anthony Hardenburgh of Amber Road received some great questions during the webinar. Since they were unable to answer of them during the live broadcast, we have posted all of their answers online. Here are a few highlights!

Global trade management can be complex…and so can the terminology! We created a series of short videos to help you understand the basics. Last week we introduced the first video in the series, which focused on restricted party screening. This week we will focus on landed cost.

In the second video of the series, we explain what a landed cost is and what components are involved in this complex calculation. Take a minute to learn more about landed costs – watch this short video:

Global trade management can be complex…and so can the terminology! We created a series of short videos to help you understand the basics. These videos focus on the key points you should know about restricted party screening, landed costs, duties, tariffs, and incoterms.

In the first video of the series, we explain what a restricted party is, and why Restricted Party Screening (RPS) should be an essential part of your compliance program. If your company engages in business with a denied party, you can face fines, penalties, a loss of export privileges, and even jail time.

As midsized companies expand into new foreign markets, they must also expand their export compliance programs – which is not easy. Many companies are lacking senior management involvement and process automation, according to a recent Amber Road survey of over 360 midsized companies.

Join Amber Road and AAEI for a complementary webinar entitled Growing Pains: The Challenge of Going Global on Tuesday, July 15 at 2:00 pm EDT as we discuss how you can overcome the export compliance challenges associated with going global. Presenters will discuss:

• Compliance challenges midsized companies are dealing with on a daily basis
• How you can use automation to combat those challenges
• Real world examples and tips from a Trade Compliance Manager to help you better manage your export compliance processes

The U.S. Government has announced significant alterations to the export control guidelines for equipment, parts, components, software, related technology and services used in spacecraft and satellites. These adjustments come as a direct result of a change in jurisdiction from the Department of State’s International Traffic in Arms Regulations (ITAR) to the Department of Commerce’s Export Administration Regulations (EAR).

The long-term goal of this shift is to reduce export compliance obligations, but the burden will fall on manufacturers and exporters up-front since they will be the ones re-evaluating the product classifications. Most of the changes will be implemented on November 10th of this year, but some will take place as early as June 27th. Although the long-term results will reduce U.S. government export controls with these kinds of goods, the short-term implications will include some significant constraints.

Trade compliance professionals face their own set of unique challenges. On top of having to keep up with the government’s ever-changing rules and regulations, you also assume a lot of personal liability.  What happens if something goes wrong, or if someone makes a mistake?  Will you have to pay the ultimate price?

Join Amber Road for this complementary webinar on Tuesday, June 24 at 2pm EDT as we revisit and expand on the topic of "Minimizing Exposure, Liability, and Risk in Trade Compliance." Presenters will discuss:

The U.S. has seen record-setting export growth over the last several years. U.S. exports during the first quarter of 2014 totaled $576.3 billion, exceeding the first quarter of 2013 by 3.2%, and reaching a record total of $2.3 trillion at the end of last year. In February, the U.S. Commerce Department reported exports rose to $193.9 billion from $190 billion. In March, the U.S. expanded exports to Canada, South Korea, and the countries in the Dominican Republic-Central America Free Trade Agreement. Additionally, the U.S. Import-Export Bank found that the countries with the largest annualized increase in U.S. good purchases were Panama, Russia, Peru, Hong Kong, Colombia, Argentina, Chile, United Arab Emirates, China, and Indonesia.

As midsized companies expand services into emerging or new foreign markets, they must also expand their export compliance programs. Amber Road surveyed over 360 midsized companies to learn more about the specific export compliance challenges they are facing and found that across the business sector, many compliance teams are lacking senior management involvement and process automation. However, companies that choose to invest in compliance best practices and involve senior management early on in the process have greater competitive advantage.                      

The United States International Trade Commission recently released a report stating small and medium-sized U.S. businesses are disproportionately affected by certain trade barriers with the EU as compared to their larger counterparts. Several factors contribute to this discrepancy, especially cost; most expenses in international trade compliance are fixed regardless of company size and quantity of items shipped. This dramatically limits the trade process for small and mid-size companies.