Trade Security Journal Publishes Akin Gump Article on U.S. Census Review of Routed Export Reporting Requirement
Trade Security Journal has published the article “U.S. Census begins review of routed export reporting requirement,” written by Akin Gump international trade partner Lars-Erik Hjelm, senior counsel Casey Richter and associate Brad Powell. The article examines a new notice from the Bureau of the Census seeking comments on the definition of “routed export transaction” as well as the responsibilities of parties in routed export transactions. Comments are due by December 5.
The article notes that the reporting requirements for routed export transactions “are often a source of confusion and added transactional costs for U.S. exporters, foreign consignees and freight forwarders.” The comment period, Hjelm, Richter and Powell write, is an opportunity to address some of those recurring issues. It also will allow for the trade community “to redefine routed export transactions so that the term more closely aligns with business realities.”
The authors write that, while it’s not clear “what changes, if any, Census might adopt, it will no doubt consider well-formulated suggestions and comments.”
To read the Akin Gump client alert on which the article is based, please click here.