The GTC Media podcast discusses the latest developments in international trade, with insights on digital taxation, sanctions, green energy, and forced labor. Tune in for a roundup of global trade news. Main Points - Digital taxation at the WTO could impact consumers through higher prices for online goods and services. Governments see this as a revenue opportunity, while consumers want to avoid new taxes. - Sanctions on Russia pose challenges for international supply chains. Businesses must regul...
Mar 04, 2024•26 min•Ep. 162
A festive holiday sweater sparked a viral debate among trade experts on LinkedIn. Tune in to hear the hilarious story behind how one compliance manager's silly sweater design led to a lively discussion analyzing its proper classification under international trade rules. Main Points: - Ryan Bennett shares how he created a Christmas sweater with the HTS code for "festive Christmas articles" as the design, not expecting it to blow up online. - His post garnered over 200 likes and 50-60 comments as ...
Feb 29, 2024•51 min•Ep. 161
Welcome to another episode of Simply Trade, where we delve into the world of international trade, importing, and exporting. In this episode, we discuss the surge in US import prices in January, the impact of rising costs on the US economy, and the shifting dynamics of the US-Germany trade partnership. Main Points: 1. US Import Prices Surge: We discuss the 0.8% surge in US import prices in January, primarily driven by rising costs for petroleum and other goods. We explore how this increase might ...
Feb 26, 2024•33 min•Ep. 160
Trudy Wilson shares her unique career journey from customs broker to trade compliance consultant and instructor. Listen as she discusses balancing life between the US and Jamaica. Learn how she progressed through the customs brokerage industry and gained invaluable experience across various roles and locations. You will have to listen to learn more about her other job on her goat farm in Jamaica. Main Topics Trudy Wilson's education and background growing up in Jamaica Her career progression fro...
Feb 22, 2024•57 min•Ep. 159
In this episode, Andy and Lalo sit down with ICPA leaders to discuss how to get the most out of attending the ICPA Annual Conference. From networking strategies to volunteer opportunities, these experts share their best tips for building valuable connections and maximizing the conference experience. Main Points: - Conference preview details including location, tracks, sessions and expected attendance - Strategies for identifying must-attend sessions vs opportunities to learn about new topics - H...
Feb 21, 2024•55 min•Ep. 158
This episode of Simply Trade discusses how shifting global financial power could impact international trade. Hosts, Annik and Andy are joined by guest host Renee Chuichiarelli where they provide historical context on the US dollar's role and analyze recent developments challenging its dominance. Main Points - De-dollarization efforts by countries like China and implications for the US economy - Smart car technology raises data privacy concerns when exporting to certain markets - New India-UAE tr...
Feb 19, 2024•27 min•Ep. 157
Banks play a crucial but often overlooked role in international trade. As Kelly McCorkle of Schulz Law Firm explains, "Financial institutions are uniquely situated in the transaction. They're assisting exporters in conducting business, but they also have access to a significant amount of documentation related to export transactions." This episode explores new regulations that expand banks' responsibilities to monitor for potential export control violations. Main Points: - New regulations require...
Feb 16, 2024•41 min•Ep. 156
Recent attacks on cargo ships transiting the Red Sea have highlighted the geopolitical risks facing global supply chains. On this episode, we sit down with Peter Tirschwell of the TransPacific Maritime Conference (TPM24) as well as the Journal of Commerce Vice President, to discuss the impact of these events and how conference attendees can gain insights on navigating challenges in international trade. Main Points: - Peter provides context on the history and growth of TPM, now in its 24th year, ...
Feb 13, 2024•27 min•Ep. 155
This episode of Simply Trade discusses strengthening supply chains in the Indo-Pacific region and evolving trade dynamics between the US, Mexico, and China. Annik, Andy, and Lalo provide insights on responsible solar panel sourcing, improving supply chain resiliency through international cooperation, and the impacts of US trade policy shifts. Main Points - Forced labor concerns in Chinese solar panel manufacturing and how India is becoming a key alternative supplier. - Objectives of the new Indo...
Feb 12, 2024•24 min•Ep. 154
Understanding complex EU regulations is key for global businesses. On this episode, we discuss a program helping professionals in Europe and beyond. Main Points - Fiona Luciani of the International Trade Institute outlines their university-accredited program covering EU customs trade regulations - Differences in approaches to training in the EU are explored - Applying concepts like classification, rules of origin and Incoterms ensures accurate cross-border paperwork within companies Whether impo...
Feb 08, 2024•31 min•Ep. 153
This episode of Simply Trade takes a closer look at recent developments impacting international businesses. Hosts Annik, Lalo, and Andy talk about unfair trade allegations in the paper plate industry and discuss strategies for navigating trade duties. They also explore the IMF's 2024 economic outlook and how data-driven decisions can boost supply chain resilience. The episode provides insights into China's rising auto export power and unpacks Russia's unique trade geography. Tune in for the late...
Feb 05, 2024•26 min•Ep. 152
This episode of the Simply Trade Podcast features a discussion with multiple guests from Flexport on the importance of managing supply chain data to navigate challenges in international trade like duty drawbacks, changing sourcing strategies, and geopolitical disruptions. Main Points - Duty drawback programs can provide significant refund opportunities for companies through better data tracking of imports, exports, and inventory movements. - Consulting services like Flexport's go beyond logistic...
Feb 01, 2024•1 hr 5 min•Ep. 151
In this episode of Simply Trade, hosts Annik, Lalo, and Andy discuss recent news articles related to international trade topics like changes in parcel shipping costs, proposed restrictions on civilian gun exports, potential US tariffs, and more. Changing Landscape of Parcel Shipping Discrepancies in FedEx and UPS pricing and services. Global Training Center's Lalo shares how they consolidated shipping carriers to lower costs when shipping textbooks. Andy provides tips for businesses to consider ...
Jan 29, 2024•31 min•Ep. 150
On this, the final segment of our conversation with Jackson Wood of Descartes, we discuss the need for a collaborative, cross-functional approach to effectively manage global trade compliance and supply chain risks. Representatives from procurement, logistics, and compliance must work together using the right tools and data to gain strategic insights. New technologies can help streamline processes and empower teams to focus on analysis rather than transactional tasks. Main Points - The importanc...
Jan 25, 2024•34 min•Ep. 149
This episode of Simply Trade discusses recent developments in international trade policy and geopolitical events impacting global supply chains. Topics include the designation of Houthis in Yemen as a terrorist group, China boosting EU imports to ease restrictions on technology, and calls for more ambitious EU and US trade agreements. Discussion Points: - Designation of Houthis in Yemen as terrorist group and implications for regional stability and trade routes - Piracy attacks on commercial shi...
Jan 22, 2024•27 min•Ep. 148
The future of trade is all about data - how we collect it, share it, and use it to both facilitate trade and enforce regulations. This was a key topic of discussion on today's episode featuring trade experts Amy Magnus and Cindy Allen. Focus on Data and Entities The guests agreed that in 2024, data and understanding entities (importers, manufacturers, etc.) will be hugely important. "It's really going to come down to data," said Amy Magnus. She explained how collecting and intelligently using da...
Jan 18, 2024•54 min•Ep. 147
As businesses face ongoing challenges from inflation, workforce shortages and economic uncertainty, many are looking at new strategies like nearshoring to help cut costs and gain efficiencies. This episode of the Simply Trade podcast explored how implementing a nearshoring solution with the right partner can provide numerous benefits. Defining Nearshoring Nearshoring refers to outsourcing certain business functions to locations closer to home, such as countries in Latin America. This provides ad...
Jan 16, 2024•42 min•Ep. 146
This episode of the Simply Trade podcast discusses how businesses can adapt to geopolitical tensions and protect their supply chains. Guests also cover the impact of tariff deactivations and importing prescription drugs from Canada. Key Takeaways Businesses need to diversify suppliers and find alternative sourcing options to protect against supply chain disruptions from geopolitical tensions. Reaching tariff exclusion thresholds can result in unpaid duties if imports exceed the limit. Companies ...
Jan 15, 2024•26 min•Ep. 145
In this episode, we discuss CBP's groundbreaking work to develop global standards for digital verification that could transform international trade and supply chain visibility. Vincent (Vinnie) Annunziato from CBP shares how technologies like decentralized identifiers and verifiable credentials could enable trusted traders to be instantly recognized across borders while also providing end-to-end supply chain transparency. Main Points: CBP is developing standards for decentralized digital IDs and...
Jan 11, 2024•29 min•Ep. 144
Join Annik as she takes on the news of the week with her co-hosts, Lalo and Andy. Red Sea Crisis Boosts Shipping Costs and Delays Inflation The hosts discuss how the ongoing terrorist attacks and piracy in the Red Sea region have caused freight rates from Asia to Northern Europe to double. Shipping companies are now forced to take much longer routes around the southern tip of Africa instead of using the crucial Suez Canal shipping lane. This significant increase in transportation costs and delay...
Jan 08, 2024•27 min•Ep. 143
In this episode of Simply Trade, Alan Bersin continues his discussion from Part 1 on the evolution of supply chain security and trade compliance. Major topics covered include moving from federated search to federated learning, building supply chain visibility, engaging the C-suite, and strengthening partnerships between government and the private sector. Key Discussion Points: - Alan Bersin discussed the evolution from the federated search model used by CBP to the new paradigm of federated learn...
Jan 05, 2024•41 min•Ep. 142
Former CBP Commissioner Alan Bersin discusses his career journey and leadership transforming US border security post-9/11 to better balance facilitation of low-risk international trade and imports/exports while enhancing security. Guest Biography: Alan Bersin - Former Commissioner of U.S. Customs and Border Protection (CBP) and Assistant Secretary for International Affairs and Policy at the Department of Homeland Security. Also previously served as Superintendent of San Diego city schools. Key D...
Jan 05, 2024•39 min•Ep. 141
In this news roundup episode, the hosts discuss the trends for 2024 in the logistics industry. The topics covered include digitalization, economic headwinds, sustainability, last mile delivery, supply chain resilience, and cybersecurity. The hosts provide their opinions on each trend and express the need for further exploration and expert insights. Main Points 02:30 Trend 1: Digitalization The hosts analyze Forbes' prediction that digitalization will continue among large and small shipping compa...
Jan 01, 2024•25 min•Ep. 140
In this episode of Simply Trade, Andy and Lalo are joined by international trade veteran Cindy Allen to discuss navigating the ever-changing regulatory landscape in international trade. Cindy shares insights from her experience working in both the private and public sectors, including her time leading automation initiatives at U.S. Customs and Border Protection. Main Topics - Vetting new suppliers and customers to ensure compliance with regulations like forced labor prevention acts - Leveraging ...
Dec 28, 2023•1 hr•Ep. 139
In this festive episode we discuss how small changes to products or accepting certain gifts could impact tariff classifications or violate trade regulations during the holiday season. They provide real-world examples and explain how modifications like adding seasonal designs or receiving hampers from foreign officials need to stay compliant. Tune in to learn how to stay on the right side of international trade law while celebrating the holidays. Main Topics: - Gifts that could be seen as bribes ...
Dec 26, 2023•18 min•Ep. 138
In our annual festive episode, Andy and Lalo discuss the mystery of whether Santa Claus is a smuggler. They bring on guest Erik Smithwise to analyze the legal implications of Santa's gift delivery operations. Timestamps: 5:00-10:00 - Setting up the scenario and introducing guest Erik 10:00-15:00 - Analyzing import requirements and potential violations 15:00-20:00 - Discussion of liability for children and parents 20:00-25:00 - Potential penalties and criminal charges 25:00-30:00 - Forced labor c...
Dec 21, 2023•43 min•Ep. 137
Simply Trade Podcast - Work/Life Balance in International Trade Guests: Jeremy and Shannon Page, Page Fura Law Firm Show Summary: Jeremy and Shannon Page discuss running their international trade law firm together for 15 years as a married couple. They share insights into balancing demanding careers in international trade with family responsibilities and maintaining a successful partnership with your spouse both professionally and personally. Main Segments: Introduction (0:00:00) Host Andy intro...
Dec 19, 2023•53 min•Ep. 136
Summary In this episode, the hosts discuss various topics including US liquor tariffs, logistics companies adapting to shifting supply chains, security concerns for delivery drivers, and the role of customers in ensuring driver safety. The conversation highlights the impact of tariffs on American liquor exports to Europe and the potential effects on the competitiveness of American whiskey brands. The hosts explore the concepts of nearshoring, reshoring, and friendshoring in response to global tr...
Dec 18, 2023•35 min•Ep. 135
Jen Diaz shares stories from her career dealing with criminal trade compliance cases. She discusses toxic toothpaste recalls, hand sanitizer issues during the pandemic, intellectual property violations, undervaluation schemes, and the criminal penalties involved. Key Takeaways: - Importers can face criminal charges for non-compliance issues that harm consumers like toxic ingredients in children's products. - Understating invoice values to avoid duties is a common trade crime that often results i...
Dec 14, 2023•58 min•Ep. 134
This episode of the Simply Trade podcast discusses upcoming regulations impacting EU customs rules, US whiskey tariffs, sustainable trade standards, and holiday shipping trends. Main Topics: - Proposed change to US whiskey tariff classifications and tax savings opportunities. - New EU customs nomenclature codes taking effect in 2024. - Regulations stimulating EU trade and opportunities for importers and exporters. - Efforts by ICC to standardize definitions for sustainable trade and challenges f...
Dec 11, 2023•16 min•Ep. 133
