U.S. companies doing business overseas are subject to the Foreign Corrupt Practices Act (FCPA), a U.S. law that prohibits bribes to foreign government officials as a way to obtain or retain business. Taking the following steps before starting a business venture will minimize a company’s corruption risks
International trade can be immensely profitable, but it carries many risks. One of those risks is the potential for loss or damage to your cargo.
Free-trade agreements are back on the nation’s front burner. That’s good news for businesses and workers because FTAs help to open markets for exporters by slashing tariffs and tearing down other trade barriers.
China’s decision to end its currency’s two-year-old peg to the U.S. dollar is raising expectation of a gradual appreciation in the yuan’s value — an increase that could bring relief to U.S. and other non-Chinese manufacturers struggling to compete with cheap Chinese products.
One aspect of U.S. trade that gets little attention is Foreign-Trade Zones (FTZs), areas in which businesses and manufacturers enjoy reduced tariffs (import duties), tax breaks and a host of other advantages. Licensed by the U.S. Commerce Department’s Foreign-Trade Zones Board and supervised by U.S. Customs and Border Protection, FTZs are restricted-access sites in or near ports of entry.
U.S. companies looking to access medium to long-term reconstruction opportunities in Haiti must register with the United Nations Global Marketplace (www.ungm.org), the Inter-American Development Bank (www.iadb.org) and the World Bank (www.worldbank.org).
Tom Rush is one of many African-Americans who have made South Africa their home. Like others, he sees abundant opportunities for U.S. companies, as well as some serious challenges.
The eyes of the world turn to South Africa this month as the nation hosts soccer’s World Cup from June 11 to July 11, the first time that the world’s biggest sporting event is taking place in Africa.
Exports often get little attention from trade critics, but President Obama used his State of the Union address to stress the opportunities for economic growth through exporting.
Importers beware! As of Jan. 26, U.S. Customs and Border Protection will begin enforcing new rules that could result in a $5,000 fine per violation. Moreover, failure to comply could delay your shipment.