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📢 Navigating the Impact of the 2024 U.S. Election on Global Trade With President Trump’s recent victory, we’re likely to see heightened trade measures: a universal 10-20% tariff on all imports, and up to 60% on goods from China. These shifts could impact importer’s bottom line. Pax team is ready to provide the tools you need to manage current and potential new tariffs, mitigate risks, and maintain resilience in an evolving trade environment. 💡Schedule a free consultation with Pax CEO (https://lnkd.in/ep6Yz7mv) https://lnkd.in/eeSidXyX

NEI: Licensed Customs Brokers, Don’t Miss This Chance! The NCBFAA Educational Institute (NEI) invites you to grandfather into the Certified Customs Specialist (CCS) program using your current license - no prior enrollment required. Why Act Now? With the upcoming Continuing Education Requirement for Brokers, NEI’s LogisticsEI platform will help you stay compliant with accredited content and easy transcript tracking. Limited-Time Offer: Apply by December 20, 2024, for a discounted rate of $105! Use code: JylKAW04 (for first-time CCS grandfather applicants only). Stay ahead in customs compliancehttps://lnkd.in/ekB5Kw6H

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Was Friday the 13th a lucky day for us customs nerds? Today the trade community was abuzz with discussions on the Biden-⁠Harris administration announcement on de minimis. I anticipate that we will see a flurry of activity as DHS, CBP, CPSC, Congress and other government agencies grapple with ways to address the recent accelerated growth of under $800 shipments. In this post I aim to simplify the White House’s plans so you can more easily understand steps the government is taking to curtail de minimis shipments, especially those from China. Today’s announcement should result in parallel activity by the government on de minimis in four or more paths. Over the next few weeks, I expect we will see: 1. A final rule from the CPSC requiring electronic submission of Certificates of Compliance (CoC) on Type 86 and other de minimis shipments for many products. 2. A Notice of Proposed Rulemaking (NPRM) from CBP intended to reduce the volume of de minimis shipments from the current 1 billion per year. 3. A NPRM from CBP designed to improve accountability by de minimis shippers and provide CBP with additional tools to strengthen their enforcement efforts. 4. Congress debate and possibly pass legislation that could speed up the process and provide CBP with even more tools to limit low value shipments. CPSC began testing a pilot to require electronic transmission of the CoC in 2017 and spent the last few years getting ready for a final rule. The CPSC is close to ready to publish final regulations that would require de minimis importers, including importers of low value apparel, to electronically file the CoC with each import. In today’s announcement CBP hinted that we will see two separate notices of proposed rulemaking; one would reduce de minimis import volumes, especially on imports from China and the other would provide CBP with better data and tools to enforce the de minimis rules for imports that continue to qualify for duty free import. Why two proposed rules? My best guess is that with two NPRMs CBP anticipates that they can more quickly act to address the de minimis issues. While Congress is not normally known for speedy action, they can act quickly to pass legislation to address issues of serious concern. With today’s announcement the Biden-Harris administration is asking Congress to act quickly to pass legislation that would accomplish many of the same goals in the regulatory proposals outlined above, and more. Congress is currently considering multiple proposals on de minimis: Import Security and Fairness Act, End China’s De Minimis Abuse Act and the FIGHTING for America Act. With today’s announcement the White House is signaling to Congress that now is the time to act and that President Biden and Vice President Harris would welcome legislation on de minimis as soon as the upcoming lame duck session. For more information on how the de minimis changes announced today will impact your company contact me at tom@tomgouldcustoms.com. 

We are on the Simple Trade Podcast. 🤓 A big thank you to Lalo Solorzano and Andy Shiles √ for having us!!!

Important update 🚨 🚨 🚨 The recent CBP ruling on Merchandise Processing Fees (MPFs) could impact your drawback claims and lead to recalculations of your past and future claims! Schedule a free consultation with us to learn how Pax can help streamline your recalculations. #TradeCompliance #DutyDrawback https://lnkd.in/eTjJxqiW

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