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US 'keen for UK trade deal and further TTIP progress'

Industry News | | MIC Customs Solutions |

The US is keen to strike a new free trade deal with the UK as soon as possible, while also making progress on the US-EU TTIP deal, according to Paul Ryan, the speaker of the House of Representatives.


A senior US government official has expressed confidence that the US will be able to sign a new free trade agreement with a post-Brexit UK at the earliest possible opportunity, while also offering a way forward for the Transatlantic Trade and Investment Partnership (TTIP).

Speaker of the House of Representatives Paul Ryan stated during a recent visit to the UK that president Donald Trump is committed to working with the British government to form a new bilateral trade deal, following Britain's imminent departure from the European Union.

In a speech for the Policy Exchange thinktank, Mr Ryan expressed confidence that the UK will be able to come to a post-Brexit trade agreement with the EU, while pledging that the US will offer continued support throughout the separation process.

Mr Ryan said: "This is one of the bipartisan messages I bring with me; I bring Democrats and Republicans here to this room to this country today, to say that the United States stands ready to forge a new trade agreement with Great Britain as soon as possible, so that we may further tap into the great potential between our two people."

During the speech, the senior Republican also said the US remains keen to work closely with the EU to "chart a path forward" for TTIP, a major trade deal developed during the premiership of former president Barack Obama to strengthen trade links between the US and EU.

This pledge represents a change in approach for the Trump administration, which has been vocal in its opposition to multilateral trade agreements thus far. Indeed, one of President Trump's first major acts was to pull the US out of the Trans-Pacific Partnership, which was seen by many as a counterpart to TTIP.

Progress on TTIP has stalled since Mr Trump took office, but Mr Ryan's comments indicate that this may change.


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MIC - Customs and Trade Compliance Software Solutions worldwide

Multinational companies are facing greater compliance challenges when addressing the continuously evolving international legal requirements. Customs and trade compliance management has a significant impact on production location and purchasing decisions, delivery times, cost savings and competitive advantages. Thus, it is crucial to establish processes that are accurately, effectively, and efficiently managed utilizing proven global IT solutions.

The international requirements for companies regarding customs and trade compliance management are complex and subject to ongoing legal changes covering a multitude of topics, such as: Correct product classification, compliance with export control regulations, numerous sanction list screenings, calculation of origin based on ratified free trade agreements, supply chain security initiatives, and management of special customs regimes as part of the import and export clearance processes. In addition, country-specific legal requirements that include legislative and technical changes make it increasingly difficult to completely fulfill the requirements of international customs and trade compliance.

A partnership with MIC strengthens a company’s ability to deal with the daily operational challenges of international customs and trade compliance management. MIC has a trendsetting Global Trade Management (GTM) software solution that allows companies to standardize and automate their customs and trade compliance processes. MIC’s software solution is available on 6 continents and can be configured according to the company’s specific needs to significantly improve legal compliance, thus saving time, money, and eliminating future business disruptions.

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MIC provides the software via its data center infrastructure. On request, a MIC partner can take over the daily operational handling (managed services).

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Automated electronic export and import customs clearance processes, including special customs regimes and inventory management: Import, Export, Transit, Inward & Outward Processing Relief, Bonded Warehouse, Foreign Trade Zones, Intrastat, Central Clearance – SASP, EMCS and more. “We do the last mile!”

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Central Classification

Global part master data management with increased degree of automation in customs tariff & export control classification of products based on regularly updated national customs tariffs and export control commodity lists.

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FTA Management

Automated preferential and non-preferential origin calculation for 250+ free trade agreements as well as electronic exchange of customer supplier declarations. Management of supplier declarations via supplier web portal.

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Central export control check of business transactions, including sanctioning list check, embargo check, end-user / end-use check, determination of approval requirements and management of approvals.

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There are various customs regulations and requirements programs throughout the world. Examples include ACE, FTZ and Duty Drawback in the USA, IMMEX in Mexico, the Union Customs Code (UCC) in the EU (and its various national characteristics), the Free Zone in Thailand, and the China Single Window. All of these have the objective of making customs procedures simpler, more modern and more efficient.

MIC Global Trade Management (GTM) software helps companies maintain international visibility and to take advantage of these program changes in legislation. We know the intricacies of national and regional customs and export control requirements. Our software takes account of the respective regulations and uses similarities in global customs and export control law. This is done in 55+ countries on 6 continents with regularly updated trade content for 150+ countries. In addition, our data analytics & visualization tool enables improved decision making by identifying optimization potentials and supply chain trends across global customs and trade compliance processes. As a result, global business processes can be designed and automated more efficiently. This not only increases compliance, but also saves time, money and increases global competitiveness.

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