The #1 Thing Customs Will Focus on This Year - Are You Ready?

The future of trade is all about data - how we collect it, share it, and use it to both facilitate trade and enforce regulations. This was a key topic of discussion on today's episode featuring trade experts Amy Magnus and Cindy Allen. Focus on Data and Entities 🎯 Importance of data and understanding entities (importers, manufacturers, etc.) in 2024. Amy Magnus emphasizes the crucial role of data in customs inspections for high-risk and low-risk shipments. Piloting New Approaches 🚀 Exploration of new pilots using distributed ledger technology for early data sharing in the trade process. Global Business Identifier pilot recommended for importers to shape solutions and enhance visibility for all parties. Addressing Agency Requirements 📋 Challenges posed by different agencies like FDA with diverse import data needs. Highlighting the reliance on outdated paper-based systems and the urgent need for automation. Takeaways for Importers 🌐 Key advice for importers, including understanding supply chain risks through mapping tools. Recommendations to hire compliance experts and engage with trade associations (nei.org, icpa.com, alex.org) for staying informed on upcoming regulations. Actionable insights provided for facilitating trade in alignment with increasing enforcement trends. Enjoy the show! Show references: Global Training Center - www.GlobalTrainingCenter.com Simply Trade Podcast - twitter.com/SimplyTradePod Amy Magnus -   / amy-magnus-16237b12   Cindy Allen -   / cindy-allen-a3188210   Trade Force Multiplier - https://tradeforcemultiplier.com/ Connect with Simply Trade Podcast: Subscribe:    / @simplytradepod   LinkedIn:   / simply-trade-podcast   Twitter:   / simplytradepod   Website: https://globaltrainingcenter.com/simp... Contact Us/ Suggest Topics Contact [email protected] or message ‪@SimplyTradePod‬ for: Advertising and sponsoring on Simply Trade Requests to be on the show as guest. Suggest any topics you would like to hear about Credits: Music: https://elements.envato.com/ Host: Andy Shiles:   / andyshiles   Host/Producer: Lalo Solorzano:   / lalosolorzano   Co-Producer/Editor: Mara Marquez:   / mara-marquez-a00a111a8   Disclaimer: Simply Trade is not a law firm or an advisor. The topics and discussions conducted by Simply Trade hosts and guests should not be considered and is not intended to substitute legal advice. You should seek appropriate counsel for your own situation. These conversations and information are directed towards listeners in the United States for informational, educational, and entertainment purposes only and should not be In substitute for legal advice. No listener or viewer of this podcast should act or refrain from acting on the basis of information on this podcast without first seeking legal advice from counsel. Information on this podcast may not be up to date depending on the time of publishing and the time of viewership. The content of this posting is provided as is, no representations are made that the content is error free. The views expressed in or through this podcast are those are the individual speakers not those of their respective employers or Global Training Center as a whole. All liability with respect to actions taken or not taken based on the contents of this podcast are hereby expressly disclaimed. ---