KWTC News :

Importer Security Filing System in Place

U.S. Customs and Border Protection (CBP) enforcement of the 10+2 regulations begins on January 26, 2010. The regulation requires importers and ocean carriers to electronically submit additional data to CBP on shipments destined to the United States.

Importers are responsible for the 10 additional data elements which are: Manufacturer, Seller, Consolidator, Buyer and Ship to names and addresses, Container stuffing location, Importer and Consignee record numbers, Country of origin of goods and the Commodity Harmonized Tariff Schedule number. CBP has given importers flexibility on six of the data elements and importers should refer to the regulation for further information.. 

Four factors that may cause a loss of integrity in the ISF may result in liquidated damages. These include; failure to submit, late submission, failure to update or failure to withdraw. Penalty amounts will be assessed as $5,000 per Importer Security Filing transmission up to $10,000. The first and second violations made by the company may be forgiven for less than the $5,000 penalty.

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Garrard County High school students with KWTC Intern Ian Hanley (right) and JASK intern Josh Moore(left)

Former Governor Martha Layne Collins, Chair of the KWTC Board of Directors welcomed the students at Kentucky World Trade Center. The students learned about international trade impact, today's economic climate and the path they should take in school in order to be well equipped to work in an international business world. Phyllis Bruning from the Kentucky Cabinet of Economic Development also gave an update of the World Equestrian Games in 2010.  The students are part of the Garrard County Youth Leadership program, chaired by our member Ron Devrick from Allison Abrasives.

International Trade News :

Incoterms Update: Incoterms 2010 Likely to Take Effect in January 2011

After receiving a large number of comments from the ICC National Committees, the Incoterms Drafting Group recently completed a third draft of the revised version of Incoterms. After comments on the third draft are submitted by the ICC National Committees, the Drafting Group will meet in March 2010 to prepare a fourth version of the draft revisions to Incoterms.

At this time, it remains the ICC’s goal to release the final version of Incoterms in the fall of 2010 with an effective date of January 1, 2011 (this date is subject to change).More...

China Replaces U.S. as Japan's Top Export Market

2009 results show Japan's growing dependence on China. China supplanted the United States as Japan's biggest export market in 2009 for the first time since the end of World War II, according to preliminary figures released by the Finance Ministry on Wednesday. The trade results underline the Japanese economy's sharply growing dependence on China, which has already been Japan's largest import source since 2002 and largest trading partner since 2007. more...

Successfully Tackling the Challenges of a Complex, Globalized World

Keeping abreast of the latest developments and regulatory requirements affecting global trade in textiles and apparel can be a difficult proposition in an increasingly complex and globalized world. Sandler, Travis & Rosenberg, P.A., is rolling out an enhanced version of its acclaimed ST&R-TAP™ service to help affected companies keep pace with these changes and remain successful in the modern marketplace.

Today, more than ever, U.S. and foreign textile and apparel companies and trade associations must consider a daunting array of tasks and responsibilities as they seek to increase their business. more...

President Presses for Exports to Create Jobs

Obama proposes to reform export controls in State of the Union address

President Obama said Wednesday that increasing exports and construction of infrastructure will be among the ways the U.S. economy will recover from the recession.

The president proposed a national export initiative in his first State of the Union address to “put Americans to work today building the infrastructure of tomorrow,” Obama said More...

Exporting to Cuba in the Midst of a Trade Embargo

Since the early 1960’s the United States has imposed an aggressive trade embargo on Cuba, but there have been some recent amendments to the Export Administration Regulations (EAR) that will allow a bit more flexibility in exporting some merchandise to the Cuban people.

In accordance with the trade embargo provisions, all items that would be subject to the EAR require a license for export or re-export to Cuba unless a license exception specifically authorizes the transaction to occur. more...

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KWTC members have access to a full database of trade leads, available at wtca.org. For questions, contact sarah.darnall@kwtc.org.

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Member News :

Allison Abrasives helps to bring a group of students from Garrard Co. High School to the KWTC each year to learn more about international trade and the career paths that they can take to work in the international realm.

For more than 90 years, Allison Abrasives has maintained its position as the leader in abrasive cutting, pioneering many of the advancements in this field. The Company manufactures the most complete line of abrasive cutoff wheels in the world. A full range of wheel diameters, from 1" through 60", is manufactured in rubber, rubber-resin, and resin bond types at our Lancaster Kentucky plant. Allison Abrasives custom engineers our products to cut the most difficult materials utilizing aluminum oxide, zirconia aluminia, and silicon carbide abrasives.

Product applications range from cutting titanium billets to be forged into landing gear components for 777 aircraft, to slicing very small sections of metals to be mounted, polished, and studied under a microscope in a metallurgical laboratory. Allison wheels are used for cutting special high-temperature, high strength metals of all types for the aerospace, energy, industrial, foundry, investment casting, medical and rail industries.

Allison Abrasives has the technical expertise to engineer products for customer specific applications. Allison uses ISO 9001-2008 to provide performance you can count on. Allison has continually invested in new equipment to provide products at very competitive prices. No matter what the application, if you are looking for fast and economical cutting, contact Allison Abrasives at sales@allisonabrasives.com.

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