Two Minutes in Trade: Podcast from Sandler, Travis & Rosenberg
By Lenny P. Feldman*
Staying on top of the international trade developments can be difficult these days but listening to St&R’s Two Minutes in Trade podcast is like having your own daily briefing.
Lenny Feldman, Senior Member, presents an update on the impact choosing the date of entry can have on duty payments. Podcast link follows or simply read below. TMIT – CBP Strategy.
Today’s Question: What Does CBP’s New Strategic Plan Mean for Traders?
U.S. Customs & Border Protection (CBP) has published its Strategy 2021-2026, which introduces new mission and vision statements that describe the agency’s commitment to a safer and more prosperous nation and a set of enduring mission priorities. In order to ensure the nation’s physical and economic security, the strategy continues to prioritize twelve (12) strategic objectives introduced last year.
According to CBP Acting Commissioner Mark Morgan, the strategy recognizes the need for CBP to continue to adapt to change effectively and efficiently. Morgan emphasizes that change is constant and inevitable and that CBP must embrace it to plan for the future, while never losing sight of its purpose.
CBP’s vision statement is to enhance the nation’s security through innovation, intelligence, collaboration and trust. CBP explains that this reflects the agency’s intent to operate as a threat-based, intelligence and data-driven, operationally focused organization.
For importers and exporters, the strategy demonstrates that CBP intends to grow its partnerships with stakeholders to anticipate, detect and disrupt terrorists, their weapons, actions and crimes. Further, CBP remains committed to facilitating lawful, compliant trade, while protecting revenue through enforcement mechanisms. Finally, CBP will enhance capabilities through reliable data and advanced analytics to make strategic and tactical decisions and better identify and address emerging threats.
CBP describes its updated strategy as a transparent and actionable plan to implement its mission. This sends the message that traders should refine their own strategy that addresses terrorism and security, compliance and enforcement as well as automation and analytics. In doing so, importers and exporters will similarly demonstrate a culture of innovation and trust that CBP considers at the core of its mission.
*Lenny Feldman is a Member of Sandler, Travis & Rosenberg, P.A., resident in the Miami office and a member of the firm’s Operating Committee. He currently co-chairs the twenty-member U.S. Customs and Border Protection’s Commercial Customs Operations Advisory Committee providing strategic recommendations directly to CBP and the departments of Homeland Security and the Treasury on issues such as e-commerce policy, trade partnership programs, enforcement and facilitation mechanisms, and regulatory reform.
Mr. Feldman innovatively and resourcefully resolves complex issues pertaining to import classification compliance and tariff engineering; valuation requirements and first sale duty savings; seizure and penalty prior disclosures and mitigation petitions; antidumping and countervailing duty administration and enforcement; trade preference qualification for NAFTA/USMCA, CAFTA-DR, and other programs; intellectual property pre-compliance and forfeiture defense; importer/broker compliance reviews and cost savings analysis; export control reviews and enforcement strategies; and CTPAT/border security certification, validation, and suspension/revocation support.
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