Hot Topics in International Trade – April 2022 | Braumiller Law Group, PLLC

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IMMEX More of what you need to know

By Brenda CordobaBraumiller Law Group, Mexico Counsel

IMMEX is an acronym which means in Spanish Industria Manufacturera, Maquiladora y de Servicios de Exportacion (Manufacturing, Maquiladora and Export Services Industry). It is a Mexican federal government program focused on promoting foreign investment, exports, job creation, technology development, etc. Businesses can apply for authorization to operate under this program provided they comply with the requirements. This would allow them to benefit from customs advantages on the rate of import duty and value added tax.

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From my point of view, as well as what seems to be many others in the West and around the world, the impossibly long table behind which Vladimir Putin sits, separating himself from his henchmen, as well as visiting diplomats from other country, which he ignores, has gotten much longer, and it’s not a covid-related stretch. I don’t know if the previous two years of pandemic isolation were the catalyst for the attack on Ukraine, but regardless, the ensuing economic isolation of the Russian state of good part of the world is now evolving on a large scale. In the not too distant future, Russia could very well be considered another North Korea, that is, if the Russian people accept it, and I highly doubt that is the case, because outside information continue to seep through the cracks.

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Anti-Boycott Compliance for US Businesses

By Mike SmiszekSenior Business Advisor, Braumiller Consulting Group

It’s 7:00 p.m. on a Friday, and it’s also the last day of your company’s fiscal quarter. You are the shipping department manager responsible for loading several boxes of widgets onto a truck that will take them to JFK International Airport, where they are reserved on a flight to Amsterdam. This shipment is in response to a huge order your company received from a new customer. So you can’t wait to tell your boss that the order has shipped, which means the revenue can be recognized for the quarter. But then the phone rings. This is the customer’s freight forwarder (FF) asking you to make a minor change to the commercial invoice. They tell you that the client wants you to add a brief statement: “These widgets are not of Israeli origin”. Sounds simple enough, right? Even if the invoice already states that the widgets are of US origin, what harm can there be in adding a factually correct statement?

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Since the end of 2020, almost all businesses have been forced to start paying Section 301 fees because most of the available exclusions have expired. This was a blow to companies that relied on the exclusions, as the additional duty was either 25% (List 1, 2 and 3) or 15% (List 4A). In August 2021, the Office of the United States Trade Representative (“USTR”) released a process to reinstate certain exclusions that were previously valid. After months of review, on March 28, 2022, the USTR released the list of Section 301 exclusions that would be reinstated. If a business can use one or more of the reinstated exclusions, that means they no longer have to pay the additional tariffs for those specific products. With that in mind, here are some of the notable tidbits from the recent FR review:

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The country of origin of imported goods is a fundamental area of ​​application for Customs and Border Protection (“CBP” or “Customs”) and is the accurate tracing of materials across multiple countries, and is a crucial aspect of maintaining of a compliant global supply chain. Recently, CBP requested information from importers in the form of a Customs Form-28 (“CF-28”) which requests additional documentation demonstrating proof of declared origin. Sometimes the CF-28s will mention that the investigation is related to the AD/CVD or section duty assessment, but others are not so specific

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By Cindy TheBraumiller Law Group

The Doi Moi reforms were officially launched in Vietnam in 1986 after many years of struggle resulting from the reunification of North Vietnam and South Vietnam in 1975 and had adopted the economic style of central planning and self-isolation of the ‘Soviet Union. Goods and services were heavily regulated under the traditional planned economy, and all means of production were owned by the state. After the mid-1980s, Vietnam realized that the country was on the verge of economic collapse and that the development model the country had borrowed from the Soviet Union and the Eastern European bloc proved to be overwhelmed with flaws that hampered the country’s economic growth.

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By Acts of LinnaeusDirector of Educational Services, Braumiller Consulting Group

After six years, the Bureau of Industry and Security (BIS) has a Senate-confirmed Assistant Secretary for Export Enforcement, Matthew S. Axelrod. In a recent fireside chat hosted by the Silverado Policy Accelerator, Mr. Axelrod shared extensive insights into the direction of the Bureau of Industry and Security (BIS) priorities and what trade can expect from the Office of Export Enforcement (OEE) in the years to come. year. Of particular interest is a planned review of the administrative application and self-disclosure program. The last time a review took place was in 2016, which brought BIS procedures more closely into line with those of the Department of Justice (DOJ), Axelrod’s former agency.

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The President issued a Executive Order on ensuring responsible development of digital assets on March 9, 2022. The value of the cryptocurrency and digital asset industry exceeds $3 trillion and has the potential to grow much more with proper regulation. No country has taken a leadership role in crafting regulations that will foster innovation while simultaneously protecting consumers, investors, and businesses from criminal activity related to digital assets. This executive order is a bold move by the United States to assess and analyze the digital asset industry. If responsible EO-based legislation can be drafted and passed, the United States stands ready to allow a strong and effective regulatory approach that also promotes innovation.

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