Compliance: what are the trade risks (part 1)
Over the last few weeks, I have written a series of short articles discussing the need for developing a compliance-based approach to transacting international trade. This will help to prepare your organization to effectively deal with the risks inherent in importing.
What are these risks that continue to be the focus of U.S. Customs and Border Protection (CBP)? There are various operational policies and programs that give insight into the agency’s concerns. The most important is the identification of Priority Trade Issues (PTIs). Currently, CBP considers the agency’s trade enforcement priorities to be:
Antidumping and Countervailing Duty case administration and enforcement;
Import Safety;
Intellectual Property Rights protection;
Revenue;
Textiles; and
Trade Agreements.
In CBP’s own words “Priority Trade Issues (PTIs) represent high-risk areas that can cause significant revenue loss, harm the U.S. economy, or threaten the health and safety of the American people. They drive risk-informed investment of CBP resources and enforcement and facilitation efforts, including the selection of audit candidates, special enforcement operations, outreach, and regulatory initiatives.”
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