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

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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

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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

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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 …

FTZ Benefits of WRO Storage

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Goods made with forced labor are not entitled to entry or importation into the United States. When information reasonably—but not conclusively—indicates that merchandise involving forced labor is being imported into the United States, Customs and Border Protection (CBP) may issue a Withhold Release Order (WRO), or formal findings, to enforce this prohibition. The WRO applies to goods entered from a …

How ITC Can Help Mitigate High Duties and Tariffs on Imported Tires

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United States based companies importing tires are subject to pay hefty deposits due to the implementation of anti-dumping duties on tire products from China. ITC-Diligence recognized the opportunity to assist our clients by utilizing FTZs. By importing tire products from China in high volume and selling in Mexico, our clients’ profitability and cash flow increases. Mexico does not have tariffs …

China Tariff Exclusion

China Tariff Exclusions Extensions Expired

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China tariff exclusions extensions have now expired. Approximately thirty-five percent of companies facing additional U.S. tariffs on imports from China had qualified for the China tariff exclusions. The tariffs were imposed by President Trump in 2018. The exclusions equaled about $3.2 billion in tariff relief for importers. Most of of the tariff exclusions were allowed on machinery, mechanical appliances, electrical …