Stephanie Duong

In the future we could have two streams of cargo in international trade. Most companies are legitimate and will therefore be willing to share their supply chain data with other supply chain participants (including Customs) who can help speed up their supply chains and provide additional insights for them about their cargo. These parties will use a supply chain solution (implemented using Blockchain technology) to achieve supply chain transparency. Customs can regard them as an “Authorized Supply Chain” (see the World Customs Organization SAFE Framework of Standards). These companies can enjoy simplified border procedures because they provide rich supply chain information to demonstrate that they are in control of their supply chains. These companies will have granular insights about the progress of their cargo in the supply chain. Other companies, including those companies who have something to hide (but also companies who have nothing to hide yet choose not to share data), would not be able to benefit from the benefits of supply chain transparency. Global trade will then be divided into these two flows of cargo.

Hello, Bjorg. Let me try to help you. Your software/music would be considered an export of service, and it depends on how the software is delivered. Three main categories are tangible software, downloaded software, and software accessed via the cloud.Tangible software refers to instances where a technology product is sold to a customer in a box, CD, or memory stick. Downloaded software refers to is a software license that allows a customer to download a tech directly to their local hard drive, and then use the software for whatever application they have purchased it for, like software for recording music. Please note that license costs are included in the WTO methods of valuation for import duty.Software accessed via the cloud accounts for the “Software As A Service” (SaaS) product. This type of software is where customers access it over an Internet connection via the cloud, for example.The big issue for SaaS products is the tax implications. For example in the EU, there is a requirement to register for VAT for companies supply consumers, even if the company is not based in the EU. It's similar in the US but with different state taxes.

Thank you for your question, please see my vision of it.There are numerous reasons why imports and exports are so pivotal in the growth and development of any nation of the world.The growth of national economies is mainly based on the exports and imports of goods. Since not all countries have the resources and skills to produce certain in-demand goods, the imports of raw material help keep the regular supply of demands in the market, and in turn benefits the nations in competing against each other, and to reach the collective goal of eradicating poverty from the face of the earth.In order to protect the domestic industries, many countries even impose tariffs and import quotas to protect their domestic industries.Import and export also enables jobs in local economy to help bring up the per capita income.

It is not obligatory for you to hire a Customs broker to clear your goods but many importers do utilize the services of a Customs broker. A Customs broker will fill out the necessary paperwork on behalf of an importer. Many importers find the services of a broker to be invaluable since some importations can be particularly complex. If an importer chooses to forego the services of a licensed customs broker, he or she must be aware of Customs requirements and is responsible for ensuring the importation is compliant.

The term International trade policy describes the ideas, plans, laws, and agreements concerning the trade in goods between different countries, as has been agreed by their national governments or by supranational bodies such as the WTO or the European Union. Just like countries have policies about their health systems, their education systems, foreign policy, and defense policy, they also have policies around international trade. Similar to other policies, international trade policies can sometimes be used as a political instrument to put pressure on other stakeholders. In the case of international trade policy, the successful implementation of the policy is always dependent on the policy of other countries, because trade by definition involves other countries. In this sense, international trade policy differs from policy areas that are more predominantly internal, such as health and education.