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World Trade Month 2020 Wrap-Up

David Noah | June 1, 2020 | Import Basics, Export Basics

When the World Trade Month Association chose the theme for May 2020—Growing Exports in Uncertain Times—the group had no idea just how uncertain things would become.

A year ago much of the uncertainty of international trade focused on the United States' trade war with China, the United Kingdom's implementation of Brexit, the implementation of new U.S. tariffs on imports of steel and aluminum, and negotiations between the U.S., Canada and Mexico on a new free trade agreement to replace NAFTA.

But things really turned upside down with the outbreak of a global pandemic that is infecting millions.  In addition, it's causing major disruptions of world economies that, at best, is changing the way many companies are conducting business and, at worse, causing businesses to close and millions of workers to lose their jobs.

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May Is World Trade Month

David Noah | April 29, 2020 | Import Basics, Export Basics

May is World Trade Month, and with it, several events designed to celebrate the importance of international trade to the U.S. economy and to teach new and experienced exporters about the various aspects of international trade in this changing global economy.

This year's theme is "Growing exports in uncertain times," and I can guarantee you that no one who picked that title had any idea just how uncertain things would be in May 2020.

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Supply Chain Uncertainty: Responding to COVID-19 and Future Disruptions

Jake Rheude | April 13, 2020 | Import Basics, Export Basics

The markets and grocery stores are bare, people are anxious, and business owners are losing sleep because no one is sure what to do next or how to meet demand.

The COVID-19 outbreak has ground many supply chains to a halt and significantly slowed the rest. It’s a tough time to try and move forward while also protecting your people and livelihood.

While this all is happening, it’s an appropriate time to think about supply chains and see where we can do things differently down the road. Will we be ready for the next black swan event?

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Currency Exchange Services: Four Benefits For Exporters and Importers

David Noah | April 8, 2020 | Import Basics, Export Basics

In our interconnected world, it’s easier than ever to buy, sell and trade goods and services.

Despite the fact that doing business globally is no longer as complicated as it once was, importers and exporters sometimes miss out on opportunities to increase their profit margins because of fear or lack of knowledge regarding how to handle buyers or sellers in other countries—especially with regard to using multiple currencies.

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A New Approach to World Trade Month 2020

David Noah | April 6, 2020 | Import Basics, Export Basics

The world can change quite a bit in just a couple weeks.

Two weeks ago there were nearly 50 events listed on the World Trade Month calendar for May 2020. Most of them were live, local, in-person events scheduled in various locations across the United States. Today, most of those live events have been cancelled, postponed or taken online.

While COVID-19 has made public events dangerous and impractical, those of us involved in international trade still need to stay informed about the changing world of imports and exports.

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Sign Up Now for Free World Trade Month Updates

David Noah | March 2, 2020 | Import Basics, Export Basics

May is fast approaching, which means World Trade Month 2020 is almost here! A number of government, private and public organizations are hosting events celebrating the importance of international trade to the U.S. economy and educating people how to begin and grow their exports.

The World Trade Month Association publishes a list of these events organized by date, location and topic to make it easy to find events in your area or available online. Register now for free email updates of these events.

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Defining and Using a Manufacturer’s Affidavit

Catherine J. Petersen | February 17, 2020 | Import Basics, Export Forms

Doing business internationally means responding to requests for certain documents, certain statements on documents, or additional terms and conditions.

When exporting, firms create certain standard documents: a commercial invoice, a packing list, and a certificate of origin. International customers may request additional documents to satisfy their country’s import requirements, letters of credit, sales contracts, or purchase agreements. One of those additional documents is a Manufacturer’s Affidavit.

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World Trade Month 2020 Calendar of Events

David Noah | February 3, 2020 | Import Basics, Export Basics

World Trade Month is scheduled for May 2020, and the WorldTradeMonth.com website is publishing a calendar of international-trade-related events scheduled to be held throughout the United States that month.

If your company or organization is hosting events during May 2020, simply complete the form located on the World Trade Month website to add it to the directory of events.

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Foreign Trade Zones: Advantages for Importers and Exporters

Arnesh Roy | January 13, 2020 | Import Basics, Export Basics

If you import or export, you may be familiar with the terms foreign trade zone and free trade zone, both of which are frequently abbreviated as FTZ. These terms are often used interchangeably to refer to a class of government-run duty-free zones, but they actually mean slightly different things.

Free trade zone is a more general, universal term. Customs authorities representing governments across the globe have established free trade zones. Free trade zones are areas in which commodities can be manufactured, modified or stored under specific customs regulations and generally not subject to customs duties.

According to U.S. Customs and Border Protection (CBP), foreign trade zones are the United States’ version of free trade zones. FTZs are designated areas within the United States that are legally located outside of the customs territory of the United States, meaning that goods that reside within an established FTZ haven’t yet cleared customs.

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World Trade Month Is May 2020 and You Are Invited

David Noah | January 6, 2020 | Import Basics, Export Basics

May is World Trade Month in the United States, and to coordinate the plethora of events scheduled for May 2020, the World Trade Month Association has published a new website: WorldTradeMonth.com. This website will serve as a directory of international trade-related events held during May 2020 across the country and on the web.

The theme for this year's World Trade Month website is "Growing exports in uncertain times," a reflection of the challenges facing companies during a period of trade wars, a reexamination of free trade agreements, and questions about future economic growth.

Individuals may register on the website to receive notifications of World Trade Month events they may wish to attend.

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