Amber Road Launches TradeWizards.com, a Free Cloud-based Portal for Global Trade
Amber Road, a leading provider of Global Trade Management solutions, announces the launch of its latest trade compliance product, TradeWizards.com. TradeWizards.com is a suite of nine different research tools that helps companies import and export goods more quickly and affordably, while staying compliant with country specific trade regulations.
TradeWizards.com will enable users to instantly perform numerous global trade activities including: restricted party screening, product classification, and landed cost calculations. What used to require hours of manual interpretation of trade rules is now an automated process achieved instantly via TradeWizards.com.
Sign up now on TradeWizards.com.
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Upcoming Webinar: Bringing Compliance into the Boardroom
September 15th, 2010 at 2:00 pm EST. Register Now!
Global trade transactions account for trillions upon trillions of dollars each year, and this number is expanding as we forge into the future. Additionally, it is becoming more complex to manage US and international regulations.
Yet, despite these factors, compliance departments remain woefully underfunded and understaffed. According to our export compliance research, 14.6% of compliance professionals believe that their company’s executive management is not aware of trade compliance.
How do you get executive level cooperation and sponsorship of your initiatives?
Join American Shipper and Management Dynamics for an upcoming educational webinar, “Bringing Compliance into the Boardroom.” This webinar, featuring a panel of global trade experts, will discuss how to get your voice heard when speaking to your c-level executives about enhancing your trade compliance operations.
In this trade compliance webinar, our expert panelists will discuss:
- Pain points of each member in the boardroom
- How these points relate to compliance issues
- Key messaging to use when speaking to each board member
- Tools to use in your presentation, such as quantifying compliance and its effect on the bottom line
- How automation can contribute to your efforts by adding value and saving money
Speakers:
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Virigina Thompson Director, Import/Export Operations & Global Trade Compliance Crate & Barrel |
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Nathan Pieri SVP Marketing & Product Management Management Dynamics, Inc |
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Beth Peterson President BPE |
Register Today for “Bringing Compliance into the Boardroom!
Sidewalk Sales in NYC for Counterfeit Handbags – Closed.
No more sidewalk sales for counterfeit handbags in New York, at least for these two individuals. On June 11, 2010, two New York individuals were convicted for operating a massive international manufacturing, import and wholesale counterfeit goods business, states the Department of Justice.
Each person faces a maximum of five years in prison and a $250,000 fine for conspiracy to traffic in counterfeit goods, 10 years in prison and a $2 million fine for each of two counts of trafficking in counterfeit handbags, wallets, purses and carry-on bags, and five years in prison and a $250,000 fine for each of two counts of illegally smuggling counterfeit goods into the U.S
So next time you stop to search for a good fake Fendi, just remember it’s a hefty fine for those sellers who get caught.
China Builds Case Against U.S. Automakers
The Associated Press reports that China plans to investigate three U.S. automakers: GM, Chrysler and Ford on anti-dumping. Chinese officials believe many cars were imported below market value because of recent bail-out funds many received by the U.S. government. Steps could lead to higher tariffs for the automakers.
According to Steve Collins, president of industry trade group the American Automotive Policy Council, the U.S. only exports around 9,000 automobiles annually, so the increased tariff many not effect the auto industry too dramatically. GM manufactures and sells the majority of its cars sold within Chinese borders; therefore, the higher tariffs would not effect costs.
All three automakers could not comment as the documents are still being translated.
To read the full story, click here.
European Union Announces Anti-Dumping Duties for Several Countries
On Thursday, the European Union (EU) announced it has issued anti-dumping duties on China, Brazil and Armenia for selling aluminum foil, seemless steel pipes and tubes below cost. According to the Journal of Commerce, there is an up to 30 percent duty placed on aluminum foil for the next five years for all three countries.
Furthermore, the EU has placed a nearly 40 percent duty on steel pipe imports from China. Both cases were due to compliants from European producers who sell such products.
To read more, click here.
Cheveron Corp. and Ecuador Battle It Out
The Wall Street Journal reports that the battle between Ecuador and Oil Tycoon, Cheveron Corp. continues. Ecuadorean officials have pressed charges against Cheveron Corp after officials believed that they should pay for environmental damages allegedly caused by Texaco, which Cheveron bought Texaco in 2001. Cheveron denies theses charges.
It has become more heated as Cheveron Corp. recently filed a countersuit against the country of Ecuador under international trade law. It claims that the Ecuador government is responible to the environmental damages and Cheveron Corp shouldn’t have to pay the $27 billion lawsuit and that government officials should pay the company’s legal fees and ‘moral damages.’
Chevron made the decision to seek international arbitration is the an example of the company’s increasingly aggressive strategy to win this case. There is even an effort to lobby Congress to revoke Ecuador’s trade privileges because of the government’s alleged interference in the dispute.
To read the full article, click here.
Prehistoric Poaching
The associated press reported that prehistoric fossils arrived in the U.S. against import trade regulations. The fossils included bones of a saber-toothed cat, a partial skull of a dinosaur and eggs of several other dinosaurs.
U.S. customs were notified of these fossils, which came in two different cargo shipments, one in the Chicago O’Hare airport and the other in Reagan International Airport in Washington, D.C. The contents were flagged when the x-ray did not match the declared items. National Museum specialists in prehistoric fossils, in both states, verified they were authentic and date to around 60 million years ago.
The fossils were found to belong originally to China.
John Morton, an assistant secretary of Homeland Security, said “the attempt to remove them from China ran up against a network of national and international customs laws that are in place to protect against the theft of cultural property. We are pleased to return them to their rightful owners, the people of China.”
The stolen fossils were turned over to the Chinese Embassy in Washington D.C.
“In recent years, China and the U.S. have developed close cooperation in law enforcement and made steady progress and prominent achievements, particularly in the fields as counterterrorism, drug enforcement as well as combating other transnational crimes,” Xie Fengsaid, embassy’s deputy chief of mission.
Chinese officials have been sent to the U.S. to escort the fossils back to China.
To read more, click here.
ITC Judge Rules No Violation Against Tessera Case
Tessera loses its U.S. trade ruling to get licensing revenue from makers in computer chips. The U.S. Trade Commission judge ruled that the companies Tessera filed against were not in violation and did not infringe its patent rights.
No violation” has “occurred in the importation into the United States, the same for importation, or the sale within the United States,” Essex wrote.
Tessera plans to appeal this decision.
To read more about the case, click here.
WTO Rules in Favor of Brazil Over Cotton Case
The Journal of Commerce reported that the World Trade Organization (WTO) ruled on Monday in favor of Brazil to impose $295 million in annual sanctions against U.S. goods as a way to elimate subsidies to U.S. cotton growers ruled as illegal by WTO.
Brazil challenged the U.S. cotton subsidies as marketing loans, counter-cyclical payment and export – credit guarentees. The U.S. response is that it has elimated some export credits and repealed it’s ‘step 2′ cotton – marketing program.
Currently, the U.S. is the second largest cotton exporter and Brazil ranks fifth. Number one is China.
To read more of the article, click here.
DHL Fined For Illegal Exportation
According to the U.S. Bureau of Industry and Security (BIS), DHL has settled on a joint agreement to pay $ 9.44 million to BIS and to the Treasury Department’s Office of Foreign Assets Control (OFAC) for allegedly helping to aid and abett in illegal exportation of goods into Syria, Iran and Sudan and failed to keep good records required by the Export Administration Regulations (EAR) and OFAC.
How to make sure you are compliant when exporting to avoid large fees such as DHL. Management Dynamics offers an Export On-Demand solution that is a complete trade automation solution that helps US small & mid-sized exporters establish an export management system, automate many aspects of compliance and demonstrate reasonable care. It hosts a restricted party solution to help screen for denied parties as well as an audit feature to track and save all transactions.
For more information on Management Dynamics’ Export On-Demand, click here.
To read the full press release about DHL, click here.