Posts filed under ‘Imports/Exports’

Toyota to ship U.S.-built Camry sedans to South Korea

Toyota today announced it will export about 6,000 U.S.-assembled Camry sedans annually to its distributor in South Korea.

The Camry sedans will be built at Toyota’s manufacturing plant in Georgetown, Ky., and exported out of the Port of Hueneme, near Oxnard, Calif., beginning in January 2012.

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CNET Reviews: The Car Tech Blog, Dec 6, 2011

December 8, 2011 at 9:56 am

U.S. on Track to be Net Fuel Exporter

U.S. exports of gasoline, diesel and other oil-based fuels are soaring, putting the nation on track to be a net exporter of petroleum products in 2011 for the first time in 62 years, reported the Wall Street Journal.

A combination of booming demand from emerging markets and faltering domestic activity means the United States is exporting more fuel than it imports, upending the historical norm.

Read More Nov 30, 2011

December 1, 2011 at 11:08 am

US Department of Commerce Report on Trade in Goods and Service for September 2011

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis, through the Department of
Commerce, announced today that total September exports of $180.4 billion and imports of $223.5
billion resulted in a goods and services deficit of $43.1 billion, down from $44.9 billion in
August, revised. September exports were $2.5 billion more than August exports of $177.9

Read More

Bureau of Economic Analysis, Nov 10, 2011

November 14, 2011 at 1:40 pm

Ex-Im Bank approves $3.4 billion in export financing

The U.S. Export-Import Bank’s board on Friday, the last day of the federal government’s fiscal year 2011, approved $3.4 billion in financing to support U.S. exports from a wide variety of companies in the aerospace, oil and gas, locomotives, solar-energy and other industries.

The bank estimates that this financing will support more than 20,000 U.S. jobs.

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American Shipper, Oct. 3, 2011

October 4, 2011 at 8:29 am

CBP makes headway on simplified entry

U.S. Customs and industry representatives on Monday outlined how a simplified process for filing import declarations would look and said a trial program will start soon to demonstrate how fewer documentation requirements could benefit the government and importers alike.
The goal is to give trusted traders a more streamlined process to get goods released by linking security and admissibility data requirements. A simplified customs entry would resemble the Importer Security Filing (ISF) with a few extra data elements such as a 10-digit Harmonized Tariff System code, the estimated value and an entry number, reporters were told during a telephone briefing about last week’s Trade Support Network plenary session.

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American Shipper, Sept. 29, 2011

October 3, 2011 at 1:40 pm

A Pressing Issue: Chamber Stamps for Certificates of Origin

Imagine you provided a set of your checkbooks, with pre-signed checks, to 20 or 30 people around town. Wouldn’t you be nervous about how much money they might withdraw from your account?

Something similar has happened in the export world. Many chambers of commerce have loaned or rented out their corporate seals to freight forwarders and exporters, permitting those organizations to stamp the chamber’s seal onto documents that are used for export transactions. Of the estimated 4 million certificates of origin that accompany U.S. export shipments annually, we estimate that fewer than half are actually inspected and signed by a chamber of commerce employee, as the international rules require.

Read More

Chris Mead, Global Reach Sep 21, 2011

September 21, 2011 at 8:25 am

Ex-Im Bank Adopts The Equator Principles To Facilitate Project Finance Application And Review

WASHINGTON, D.C.: The Export-Import Bank of the United States (Ex-Im Bank) today announced its adoption of the Equator Principles, a globally recognized benchmark for financial institutions to determine, assess and manage the social and environmental risks of international project financing.

The Equator Principles are a voluntary set of standards that were developed by private-sector banks, including Citigroup, in consultation with the World Bank Group’s International Finance Corporation, project sponsors, engineers and nongovernmental organizations.

In adopting the Equator Principles, Ex-Im Bank joins more than 70 financial institutions and three other export-credit agencies (ECAs): Export Development Canada (EDC), Denmark’s Eksport Kredit Fonden (EKF) and Australia’s Export Finance and Investment Corp. (EFIC).

“The Equator Principles are a natural fit for Ex-Im Bank. Adopting them will enable us to speak the same language as our commercial partners and work more closely with them to streamline the review process for new projects,” said Ex-Im Bank Chairman and President Fred P. Hochberg.  Read more.

L. Formella, Export-Import Bank of the United States, March 31, 2011

April 12, 2011 at 7:00 am

Pushing the Free Trade Agenda

More than 400 business leaders from around the world took part in this year’s ICC World Business Summit. Organised by the International Chamber of Commerce (ICC) and the Hong Kong Trade Development Council, the 30 June event at the Hong Kong Convention and Exhibition Centre attracted some of the leading lights in international business and economics. Speakers included Martin Wolf, Associate Editor and Chief Economics Commentator of the Financial Times; David Sokol, Chairman of MidAmerican Energy Holdings Company, a subsidiary of Warren Buffet’s investment conglomerate Berkshire Hathaway; as well as Chen Yuan, Chairman of the China Development Bank.

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July 8, 2010 at 7:15 am

Forecasting: Neither Dark Art Nor Infallible Science

The January 2010 edition of Air Cargo World is now available. Please click here to access the new report (source: Damini Dave is a vice president with Seabury Aviation & Aerospace/Seabury Cargo Advisory).

January 12, 2010 at 8:00 am

Payment Options for International Transactions

You and your customer will assess many factors as you negotiate the payment term that will be used for your international transaction. They include, but are not limited to:
Value of the transaction;
Your relationship with your customer, new or long-standing;
The country where the goods are destined;
The buyer’s country’s rules about how money will be released to you, the seller; and
Whether the product being shipped is customized, built to specification, or off the shelf.
The global economy is fluid; firms will benefit from regularly examining its own customer base and assessing political, credit and foreign-exchange risks to determine which payment term best suits the situation. There are several sources that provide background information on the buyer’s country and their economy. Options that are available on the internet include:

Read More

December 8, 2009 at 8:00 am

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Travel with the Northern Kentucky Chamber in 2012

Peru - August 12-20, 2012
To learn more about the program, please email Kyle Horseman or call 859.426.3653.

RSS Northern Kentucky Chamber – Calendar

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