No, it’s not a game but we do hope that you recognize the image from our Go Global Webinar Series.
Yesterday we held our last webinar of the series. Throughout the 11 presentations we learned how government resources help you become a successful exporter. The last Webinar, Avoiding and Resolving Problems, is now available with all of the previous webinars in our Outreach, Education and Training page.
If you’re interested in becoming an exporter or just simply need a refresher, this webinar series is perfect for you!
Also located on our Outreach, Education and Training page are the upcoming dates for our Regulation Town Halls. Mark your calendards for these free informative events that focus on:
We have received several inquiries from the trade community regarding the requirements for retaining export information. Every party involved in an export transaction (owners and operators of the export carriers, USPPIs, FPPIs and /or authorized agents) should retain all export documents for five years from the date of export to comply with the Foreign Trade Regulations.
The record retention policies for the Census Bureau (15 CFR 30.10), Bureau of Industry and Security (15 CFR 762.6(a)), and the State Department (22 CFR 122.5) require keeping documentation for five years. The Census Bureau’s record retention requirements do not relieve filers from adhering to other government agency’s record retention policies.
All documents, correspondences and other relevant information to the export transactions should be maintained. These should include but are not limited to items, such as:
Electronic Export Information (EEI)
Other documents relevant to the specific transaction
For more information regarding retention of export information, go to the Foreign Trade Regulations Section 30.10, or call the Foreign Trade Division at 1-800-549-0595, option 3.
In August, the Nation’s international trade deficit increased to $38.8 billion from $38.6 billion in July (revised), as imports increased and exports declined. Imports increased slightly to $228.0 billion, primarily due to increases in capital goods ($1.0 billion). Exports decreased $0.1 billion to $189.2 billion, driven by decreases in industrial supplies and materials ($1.3 billion) and foods, feeds, and beverages ($0.4 billion). A $0.7 billion increase in automotive vehicles, parts, and engines exports helped set a record high for automotive exports ($13.1 billion). August also topped highest on record exports ($56.8 billion) and imports ($37.4 billion) of services set last month.
Changes to the Release Schedule
Earlier this week the U.S. Census Bureau announced revisions to its release calendar for the 2013 economic indicators that have been delayed because of the recent lapse in federal funding. This will delay our September 2013 data release originally scheduled for Tuesday, November 5th to Thursday, November 14th. The data will still release at 8:30 A.M. Furthermore, this will delay our September Preliminary Steel report from October 24th to October 31st. We will return to our previously announced schedule with the October release scheduled for December 4th. For a full listing of indicator schedule changes visit our website.
The EAR is managed and updated by the Bureau of Industry and Security (BIS) and is used to determine if an export or product is subject to Department of Commerce license requirements. Learn the who, how, what, and where of determining export control requirements. The webinar included information on:
The role of the BIS and the EAR
Types of Commerce Exports
Consolidated Screening List
Export Control Classification Number (ECCN)
Commerce Control List (CCL)
The next free webinar in the Go Global series will be held on November 5 and focus on avoiding and resolving foreign trade barriers or unfair situations in foreign markets.
Why are export statistics important to the average person?
The average person in America may not find export statistics relevant. What they may not realize is that the balance of trade (as presented in the U.S. International Trade in Goods and Services Report), has a significant impact on our economy and is an integral part of the Gross Domestic Product (GDP). These data can provide insight into the health of the economy. As you can see from the graph below, exports slowed from 2008 to 2009 but then began to rise annually after the “great recession” ended in 2009. Since these statistics are such important measures of the economy, the Census Bureau and Bureau of Economic Analysis have implemented an accelerated release program in which the U.S. International Trade in Goods and Services Report is available almost a week earlier than before. Here at the Census Bureau, our goal is to provide the most timely and accurate statistics possible so that you have access to the information when you need it.Why are the Foreign Trade Regulations important to the average person?
The Foreign Trade Regulations (FTR) regulate all exports of goods out of the United States. Even if you may not consider yourself an exporter, a simple trip to the Post Office can change your responsibilities. Every day I receive calls from people sending packages to foreign countries. Although typically most packages don’t require an AES filing, you do need to know the exemption that applies your shipment.
For example, when I sent care packages to my brother in Afghanistan, I used exemption NOEEI 30.37(a) because the items were valued under $2,500 and did not require a license. This is just one example of the many instances in which the average American can become an exporter and fall within the scope of the FTR.
The Foreign Trade Regulations set forth the rules and regulations for all parties involved in the export transaction. Learn more to avoid common mistakes by making the right decisions regarding your export shipments from day one. The webinar included information on:
U.S. Principal Party in Interest
When filing is required
Types of export transactions
The next free webinar in the Go Global series will be held on September 24 and will focus on understanding the Export Administration Regulations.
In July, the Nation’s international trade deficit increased to $39.1 billion from $34.5 billion in June (revised), as imports increased and exports declined. Imports increased $3.5 billion to $228.6 billion primarily due to increases in industrial supplies and materials ($2.0 billion) and automotive vehicles, parts, and engines, ($0.8 billion) which set a record high ($26.5 billion). Exports decreased $1.1 billion to $189.4 billion, driven by decreases in capital goods ($1.6 billion) and consumer goods ($1.4 billion). An increase in industrial supplies and materials ($1.7 billion) which included highest on record exports of petroleum products ($12.5 billion), partially offset the decline in exports. July also set record exports ($56.7 billion) and imports ($37.3 billion) of services.
Croatia Joins the European Union
Effective with this release, the European Union was expanded to reflect the entry of Croatia on July 1, 2013. Though we have recorded a year-to-date trade deficit of $66.3 million with Croatia, July’s monthly trade balance witnessed a $6.3 million trade surplus. Despite the addition of Croatia’s trade surplus, the July deficit with the European Union ($13.9 billion) was the highest on record due to record imports ($35.1 billion). The graph below displays the European Union exports, imports, and trade balance over the last twenty-four months, it reflects the countries in the grouping as they were at the time of reporting.
Learn how to file to the Automated Export System using AESDirect and AESPcLink with our eighth webinar of the Go Global series, Documentation and Shipping.
Easily manage your export reporting by learning the do’s and don’ts of the Automated Export System. Learn more about the benefits of templates, profiles and the shipment manager. In this webinar you will learn how to save time and money by efficiently managing your electronic export reporting.
The next free webinar is on September 10th and will focus on the Foreign Trade Regulations.
If you’ve thought about expanding your trade efforts, there are many advantages for using or operating a Foreign Trade Zone (FTZ). You can ship, store, assemble, or manufacture merchandise from FTZs. Zones also offer employment opportunities and stimulate trade. Using a FTZ offers relief from inverted tariff and duty exemption on re-exports and the cash flow cost savings will be of great value to your organization.
Data from Foreign Trade Zones
We collect information regarding Foreign Trade Zones from the EEI exporters submit. As you can see from Graph 1 , the use of FTZs for exports contributes significantly to overall U.S trade efforts, accounting for millions in revenue. In Graph 2 you can see the top countries of import that use FTZs to deliver a vast array of products and merchandise, such as automobiles, spirits, and confectionary are admitted into the U.S. Foreign Trade Zone.
With more than 280 Foreign Trade Zones in the U.S available for foreign and domestic companies, the use of zones continues to increase providing job opportunities for the community and numerous benefits to their users.
Learn about the financing options available to help you start exporting with our seventh webinar of the Go Global series, Trade Financing: Part 2.
Working capital is available under a U.S. government-guaranteed loan program or as a direct loan up to $500,000 to help fund any export development activity, including:
Translating your product literature or website
Participation in a foreign trade show or trade mission
Foreign travel to meet potential business partners
Funding your export orders
As if that did not sound good enough, there are also guaranteed-loans for up to $5 million available to fund your export transactions. In addition, a credit insurance policy allows you to reduce 95% risk of non-payment. Watch the webinar to learn more.
The next free webinar is on August 27th and will focus on the Automated Export System requirements - Documentation and Shipping.
1. Approximately 15 minutes prior to the start of the webinar, go to our training page.
2. Click on the Go Global webinar series.
3. Click on the log-in information and call into the dial-in number.