aluminum bars

The Tariff Rate Quota Starts With Steel and Aluminum

Young Company Uncategorized

From 2015-2017 there was a tightly regulated and documented amount of goods from every sector of the economy imported into the United States. For steel and aluminum, the amounts imported during these years will be the quota for what will become the new tariff structure going forward. The Tariff Rate Quota, or TRQ, sets a standard of allowable goods into …

ITC | Auto Parts | Car Show

Foreign Trade Zones Benefit SEMA Exhibitors In Huge Ways

Young Company Uncategorized

The year’s most famous automotive and car parts show is on right now and, after the 2020 show was canceled, hopes and expectations are high for 2021. Pictures have been pouring in since the weekend of classic collectible cars, modified vehicles, new technology and gadgets, and things that make most grown men act like children. The car mecca that is …

David Harlow | Fox News | Supply Chain

David Harlow on The Effects of Ongoing Supply Chain Issues in California

Young Company Uncategorized

The Port of Long Beach and the Port of Los Angeles continue to feel the effects of ongoing supply chain issues caused by the global pandemic. The global pandemic limiting physical presence on worksites, coupled with the incredible convenience and appeal of online shopping, created a situation where imports spiked through the roof yet there weren’t enough hands to process …

Why Are Customs Brokers Critical Today | ITC Diligence

Why Are Customs Brokers Critical Today?

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Four months after the Constitution of Independence was signed, the US Customs Bureau was born as one of the first federal agencies in our country. On August 5th 1789, Captain James Weeks of the Persis landed in New York with various goods from Italy and was assessed the very first customs fee of $774.41. This marked the inaugural collection that …

Section 301 Tariff Extension | ITC

The US Trade Representative Mulls Over Tariff Exemptions

Young Company Uncategorized

The Covid19 pandemic has forced business owners to play hopscotch around safety regulations. One such challenge was when Section 301 of the Trade Act of 1974 was enacted in what we all know as the US China Trade War. The tapered tariffs that were put on imported Chinese goods were enough for business owners to deal with, but then came …

EPA Guidelines | ITC Diligence

EPA Guidelines Significantly Tighten Under Biden. Are You Prepared?

Young Company Uncategorized

There are a host of risks business owners need to prepare for when running their day to day. Resource shortages, employee issues, competition, and regulatory pressure are just a few of the onslaught of challenges most business owners must deal with. Sometimes these are daily fires which can be quickly dealt with using operating procedures and prep plans, and at …

Cargo Insurance | ITC Diligence

ITC Diligence, Inc. partners with Avalon Risk Management to provide complete Cargo Insurance coverage for our industry.

Young Company Uncategorized

Our world is deeply connected through technology, communication, and commerce. Using ships in particular has been a method of connecting our world economy for centuries. However, in the open ocean, there are many forces that can work against a well run and efficient cargo shipping business, for example, piracy. At ITC Diligence, Inc. we know pirates have been a reality …

Save on Duties with Entry Type 86

Young Company Uncategorized

On September 28, 2019, the U.S. Customs and Border Protection (CBP) deployed the Entry Type 86 for entry of Section 321 low-valued shipments; an automated process originally created to expedite entry approval for Ecommerce goods. For companies that meet the Section 321 requirements, Entry Type 86 can be utilized to save on customs costs. Section 321, Entry 86 stipulates that …

aluminum bars

FTZs Can Help Avoid Tariffs on Steel and Aluminum ‘Derivative’ Products

Young Company Uncategorized

Effective June 1, 2018, additional tariffs of 25 percent and 10 percent on steel and aluminum imports were imposed for almost all countries. Effective February 8, 2020, these tariffs also applied to certain derivatives of aluminum and steel articles. ITC-Diligence Inc. can assist companies with avoiding or postponing tariffs by utilizing Foreign Trade Zones (FTZ). In May 2019, presidential proclamations …