Many companies are looking for new business opportunities and ways they can expand their operations, especially in the global market. However, even though this sounds pretty tempting and success of this kind can bring a high profit to the company, there is another side of international trading.
Generally, putting your company on a global market comes with great risk and uncertainty regarding complex rules regulating international business activities. Since the political dynamic is constantly changing, it is very hard to be up-to-date will all new terms and regulations.
Therefore, if you decided to promote your business in the international aspect and outstand your competition, you are going to need an experienced and professional Customsesq.com which is an international trading lawyer team that will help you navigate your business properly and introduce you to the regulatory environment.
What is International Trade?
If you are new to the international trading business, let’s primarily discuss what it represents. In short, international trade stands for transporting different goods and services from one country to another one.
International trade has a huge impact on the growth of the global economy which is a great benefit for people worldwide. In general, the demands for supplies are highly influenced by what is happening around the whole world. Additionally, all of those things are having an impact on prices.
Let’s give you an example, so you can easier understand what we are talking about. So, if there have been some changes in a political sense in Asia for instance, the cost of labor can go up because of that. This will lead to effecting on the manufacturing costs of a European clothing company that works with them. Therefore, the clothing will also become more expensive for European customers.
The question is whether or not they are willing to pay a higher price for the same clothing items that had lower prices until recently. As you can see, one change in the world can lead to so many different changes and consequences. Therefore, if you are in a business of this kind and you are collaborating with companies from different countries you may face some obstacles.
Now, let’s talk about the International Trade Law
International trade law refers to all rules regarding trading between countries. When it comes to the job of international trade lawyers, it stands for applying domestic laws to international trade activities as well as applying treaty international law governing trade. There are two crucial areas of international trade regarding the domestic side including the trade remedy business and the other one is export controls and sanctions.
The governments of some countries are using trade remedies as a tool to take the right action against all those imports that are causing material injury to a domestic industry. This can happen because of improper foreign pricing or becaue of foreign government subsidies.
If you are seeking an example of a trade remedy, you should know that it can refer to antidumping obligations set forth by the International Trade Commission that gives the response to the dumping activities. These cases occur when some foreign company sells a product in the US that is below the home market price there. This can lead to causing harm to the US industry.
Export control laws stand for the control of the exportation of different sensitive items, including technology and software. The law governs based on foreign policy objectives and national security.
There are currently three government agencies in the US that holds the authority to issue export licenses and those are the Department of State; the Department of Commerce; and the Department of Treasury. If violations of export control laws occur, both civil and criminal penalties are going to be issued.
In some cases, companies may need to consult with the rules of the World Trade Organization regarding the international treaty front. This organization is a formal one that regulates all trades. When it comes to the other important treaties, it is worth mentioning the North American Free Trade Agreement as well as the bilateral investment treaties.
When it comes to international trading law firms, you should know that some law firms are only focusing on one aspect of the law. On the other hand, some are having a wider practice team that can work with different areas of international trade laws.
Many people are curious to find out what is the future of international trade laws. Well, we can say that the prediction for the future is that this type of law is going to experience huge growth since many companies are going to collaborate with each other from different parts of the world.
So, what do international trade lawyers do?
International trade lawyers’ range of tasks is very wide. Their primary job is to advise and consult US companies that are doing business aboard. However, they should also consult foreign companies about their business activities and operations. No matter in which country the company is located it is recommendable to hire a professional and well-knowledgeable international trade lawyer that will navigate the company regarding relevant international rules. The lawyer will be on the side of the company and advise it to comply with particular rules.
Despite this, international trade lawyers must conduct internal investigations, obtain voluntary disclosures, and represent the company’s actions related to the violation of the rules.
Additionally, lawyers of this kind can represent their clients regarding disputes regarding import laws and remedies. If an international organization such as ITC, DOC, or U.S. Customs and Border Protection decides on something that a client does not agree with, the lawyer has the right to represent the client in a protest at the Court of International Trade.
Despite the mentioned, international trade lawyers can also assist the clients with custom classification, rules of origin matters, and different types of valuations. It is worth mentioning that the job of the lawyer is to also provide and secure the right license for the client from the DOC or Department of State, so the client can export different goods.
