Maersk Customs Services USA Highlights Trends and Opportunities for U.S. Importers
The pandemic has changed many business processes. Importers should be aware of several trends related to international sourcing and shipping that can present high financial risk.
The unprecedented monthly record volume of container ships arriving at US ports is one example of the ever-changing trade impact facing importers. Changing vessel ETAs on a daily basis can disrupt an importer’s customs brokerage activities. Maersk Customs Services USA’s system updates ETAs so customers can perform real-time business planning and access reports to manage their supply chain. Future versions will include AI tools to provide improved predictive modeling. This helps customers predict financial risk in terms of what they have in transit, at the port, and what is cleared.
CBP continues to focus on foreign suppliers and ensure that importers have strong internal controls over their manufacturing process. As soon as an importer receives the good news that a vessel with its cargo has docked in a US port, they may receive a notification from CBP that the shipment will be held for inspection and that supplier documentation is requested, which adds additional delays and costs to the supply chain.
As the supply chain occupied a central place in the quarterly results of many importers during the pandemic, CEOs and CFOs need more information and reporting to respond to operational exposure and financial risk at the time of the pandemic. within their supply chain. âWe’re seeing senior executives asking for a dashboard of duties paid this quarter, the most profitable suppliers, the most used Harmonized Tariff System (HTS) codes, and countries of origin for this quarter. And it’s needed in a snap, âsaid Melinda Damico, a licensed customs broker and customer service manager for Maersk Customs Services USA.
As we approach the end of the year and the start of a new year, the rates are changing. In fact, every five years there is a significant tariff change. In 2022, a significant tariff change will occur on many commodities as part of the normal trade practices of the World Trade Organization (WTO). Importers would be advised to check their financial risks and mitigation strategies as many HTS numbers will be phased out. Maersk Customs Services USA uses a real-time system that displays this data along with a process of monthly trade reviews and quarterly trade reviews as a proven method to ensure that both parties are running the business effectively.
Maersk Customs Services USA works with companies to ensure that their international operations comply with customs standards and that they can manage the financial risks and opportunities associated with global shipments. Services include customs services, trade advice, duty drawback services, digital services and project services with a team of 40 licensed U.S. customs brokers and the expertise of former customs officers and staff and US border protection. For companies based in Europe, customs services are offered through sister company KGH Customs.
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Phone. : +1 704 430 3442
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