International Trade Blog

The days, weeks and months immediately after signing a new international distributor are crucial for the distributor’s long-term success. One piece of advice I always share with clients regarding new distributors is this: You must be ready to guide them and help them hit the ground running from day one to launch the brand, start making sales and gain market share as soon as possible.

So, what can you do to help a new distributor have the best chance for success in the short term and build a solid foundation for long-term success?

Read More

If you are involved in international shipping at your company, chances are you’ve heard mention of the term “landed cost.” Understanding the landed cost of your international transactions is a key factor in making strategic business decisions. But what exactly is landed cost?

This blog post explains what landed cost is, why it’s important, the role of Incoterms in determining landed cost, how to calculate landed cost, and the benefits of using landed cost software.

Read More

As new products come on the market and existing products change, the harmonized system numbers used to classify them need to be updated. To make these changes, the World Customs Organization (WCO) undertakes a formal process.

On Jan. 1, 2022, a new version of HS numbers, called HS 2022, went into effect. In this article, we’ll discuss the changes to HS classification and how exporters can stay up-to-date when classifying products.

Read More

What’s the most rewarding, and sometimes frustrating, aspect of being an exporter for you? For many, it’s simply getting paid on time, in the correct amount.

The rewarding part is self-explanatory. Obviously, we need to be able to earn a living! But the frustrating part is worth considering.

Take a look at these 10 terms and see if they can help you better understand the payment process (so you can make a profit sooner!).

Read More

Incoterms 2020 rules are the latest revision of international terms of trade published by the International Chamber of Commerce (ICC). They are recognized as the authoritative text for determining how costs and risks are allocated to parties conducting international transactions.

Incoterms 2020 rules outline whether the seller or the buyer is responsible for, and must assume the cost of, specific standard tasks that are part of the international transport of goods. In addition, they identify when the risk or liability of the goods transfer from the seller to the buyer.

In this article, we’re discussing the Incoterm CPT, also known as Carriage Paid To.

Read More

Sourcing is an upstream part of the supply chain: It’s the process of strategically choosing the right services and goods that a company needs to run their business. Sourcing is also the act of buying goods, including seller selection, contract negotiation and measuring the long-term performance of your suppliers.

Sourcing greatly impacts an organization’s operations, so establishing long-term relationships will help companies gain a competitive advantage. Because after all, suppliers impact a company’s operations on many levels: finances, inventory levels, quality of goods and timely arrival. A stable sourcing process ensures your inventory levels will meet market supply and demand.

Read More

In a previous article, I explained the purpose of several common export documents and the information they typically include. This article expands on that discussion and explains how to use them in the export shipping documentation process.

Here’s how they work together:

Read More

Announced during the G-20 summit in Rome, European Union (EU) and United States negotiators reached an agreement over the long-standing issue of Section 232 tariffs on EU exports of steel (25%) and aluminum (10%) to the US.

Originally limited to "mill" products when imposed in 2018 by President Trump, the tariffs were later expanded to cover "derivative" products such as nails and wire.

Read More

Targeting high-potential export markets is one of the most arduous and, at the same time, most impactful processes a company can undertake.

Ask company executives how they chose their export markets and, in many cases, the response will be that the market basically chose them. This can be a natural evolution whereby the company is contacted by someone who wants to buy their product or serve as a distributor in a particular market. Over the years, a company can end up with representation in a significant number of countries based on opportunity rather than strategy.

Read More

Deciding to jump into the world of international trade isn’t an easy decision—or one you should enter into lightly. And being an exporter isn’t for everyone! However, in my opinion, deciding to export is the single most important thing you can do to grow your company and increase your sales. After all, more than 95% of the world’s population live outside of the U.S.!

Read More