In Michigan, business owners who want to venture overseas must become well-versed in trade laws. These laws apply to trading in any country outside the United States. All companies that wish to start these ventures must discover all applicable trade laws in each country in which they wish to conduct business. An International trade Lawyer could assist these companies in these opportunities.
Understanding Trade Regulations
According to the commerce clause in the U.S. Constitution, Congress creates laws and enforces legislature involved in foreign trade. The laws prevent unfair business practices that could stop a fair market for all businesses. This includes but is not limited to bid-rigging in business auctions and contract acquisitions as well as price-fixing that could present financial hardships for smaller businesses and corporations.
The laws also apply to any form of deception or fraudulent actions that could present unfair trade conditions. These actions could ultimately affect consumers negatively and present issues with economic growth in areas of the country and foreign markets.
Understanding Trade Licensing
Customs and Border Protection do not require a license to import or export products outside of the United States. However, the country in which the products are delivered may require these licenses. The business owner must examine the laws related to each country in which their shipments will pass including its destination.
As the shipment passes through each country, it must comply with each country’s trade laws and be compliant with all local laws. This includes shipments in which the product isn’t illegal in the U.S. but could be illegal in some countries in which it must pass.
When Importing into the United States
All incoming cargo from foreign countries must be identified prior to its arrival. The importer security filing agent must create necessary documentation as required by Customs and Border Protection. All forms must be submitted electronically by the agent. All details must be accurate for the shipment or fines could be imposed on the business.
In Michigan, business owners expand overseas by following all trade laws that apply to these ventures. These laws start with regulations inside the U.S. that dictate how businesses can conduct themselves abroad. They also apply to any incoming goods ordered from overseas suppliers. Business owners who need more details now contact an attorney right now.