Plantation, Fla., March 10, 2016: The Customs Reauthorization Bill, which goes into effect today, will open up new international trade opportunities for U.S. businesses, regardless of their size.
Also known as the Trade Facilitation and Trade Enforcement Act of 2015, the measure puts into law changes that will streamline U.S. Customs procedures, lessen the cost to ship internationally and strengthen trade enforcement at U.S. borders.
“These changes will provide more opportunities for small and medium-sized businesses to participate in international exporting and importing, increasing competitiveness with global companies and creating more job opportunities,” said Greg Hewitt, CEO of DHL Express U.S.
DHL, the world’s leading international express services provider, played a significant leadership role in shepherding the Customs Reauthorization Bill through the legislative process. The company advocated for the legislation with Congress, both directly through its Washington, D.C., office and indirectly by leading a coalition of partner associations that helped to structure the legislative language.
“As the specialists in international shipping, DHL fully understands the potential impact this bill will have on easing the international trade process and opening up great growth opportunities for U.S. businesses,” continued Hewitt. “This has been a long-term effort of nearly a decade, and well worth it for the doors it will open for our current and future customers.”
Some of the key aspects of the Customs Reauthorization Bill include:
· reducing paperwork burdens for low-value shipments by increasing the de minimis allowance from $200 to $800
· modernizing the Customs systems and bringing other border agencies together in a “single window” that supports advanced data and pre-clearance of shipments
· allowing for duty-free treatment for any exported product returned to the U.S. within three years of being exported and certain U.S. government property returned to the U.S.
· enforcing obligations in U.S. trade agreements, U.S. intellectual property rights, and antidumping and countervailing duty laws
· promoting small-business exports by authorizing the state trade expansion program and improving state and federal export promotion coordination
To learn more about international trade laws and opportunities, visit the DHL Express blog.