#9 How to Stay Compliant

Learn how to stay compliant in the Customsm world...

Author

Nadeem Virk
April 01, 2024

Hi there,

Thank you for being part of the Virk Trade Compliance weekly newsletter! If you like the series, don’t forget to recommend and share it with others! If you have any feedback (good or bad), feel free to reach out to me at [email protected].

I’d love to hear from you!

Training Updates

I am currently working to have my LCB trainings qualify for NCBFAA. Keep an eye out for the updates!

Global Trade Compliance Updates

Not much going on Trade Compliance since last week, but here are the updates!

  • It looks like Foreign Trade Zones are becoming the new hot topics in order to strategize how to avoid or control duties around the world.

  • China removes tariffs on Australian wine.

  • US Trump tariff talk to hiking goods by 10% rate will end up hurting the regular US household by more than $1,500 USD.

  • US Biden unlikely to impose oil tariffs on Venezuela.

  • New US sanctions target North Korean military finance.

Compliance Tips

Today, let’s talk about how to stay Customs Compliant:

  1. It’s essential to understand what customs compliance actually contains.

  2. You need to identify responsible personnel on all tasks, regular or irregular.

  3. You need to stay up-to-date changes in customs laws.

  4. You need to train your employees.

  5. You need to provide education and teach your team how to be aware of all the potential risks.

  6. Provide clarity to Vendors.

  7. Be proactive.

  8. Research and acquire Permits beforehand, as needed.

  9. Keep your customs documentation up-to-date and in one place.

  10. Review your compliance process regularly (at minimum, annually).

Join 1000s of Students who have already taken my Trade Compliance courses:

If you are studying for the U.S. Customs Broker Exam (or know of someone else that is):

This Student Portal has all the goodies to help you pass: https://virktradecompliance.circle.so/c/lectures/

I also have the CBLE Exam lecture as individual to buy: https://virktradecompliance.com/customs-broker-exam/

See you next week!

Nadeem

p.s. Subscribe to my weekly newsletter on growing your mindset and productivity - lots of exciting stuff coming to my YouTube starting next week. https://mindsetxproductivityxtraining.beehiiv.com/subscribe