With imports valued at more than $2.6 trillion, the United States is one of the leading countries for importing goods. U.S. importing has risen since 2014 by 8.4% and during 2018, about 45% of the imports came from providers in Asia. Based on the population of just over 329 million people, the total imports in the U.S. translates to about $7,900 in yearly per U.S. resident, according to WorldsTopExports.com.
Surtaxes can be confusing for importers bringing goods into Canada. They can arrive without warning and change just as fast. Cole’s Consulting department took the time to explain the basics of surtax for companies bringing goods and services into Canada.
If you're planning to start an importing business, U.S. Customs will likely become something you will need to understand. U.S. Customs and Border Protection (CBP) is a part of the U.S. Department of Homeland Security (DHS) and CBP is in charge of regulating all goods imported into the United States from other countries.
International shipping and freight is a complicated business. When moving goods over land, sea, and air, there are a lot of moving pieces and a lot of industry-specific terminology that can be confusing. We’ve put together a brief introductory guide to help you navigate the real basics of freight.
Black Friday, Cyber Monday (falling on November 29 and December 2 this year) and the ensuing shopping frenzy leading up to Christmas bring significant opportunities – and challenges – to myriad businesses worldwide. Major global shipping companies deliver hundreds of millions of packages in the month between Black Friday and New Year’s Eve.
The new SWI landscape
The Single Window Initiative means several changes for importers:
Incoterms (or international commercial terms) designed to assist traders when goods are sold and transported. Published by the International Chamber of Commerce, the terms clearly communicate the costs and risks associated with the transportation and delivery of goods. The Incoterms rules are used by buyers and sellers worldwide for clear interpretation of the most commonly used terms in international trade.