Essentials of Exporting and Importing US Trade Policies, Procedures and Practices

by Shoemack, Harvey; Mink Rath, Patricia

• ISBN13: 9781563675737
• ISBN10: 1563675730
• Format: Paperback
• Copyright: 2009-11-30
• Publisher: Fairchild Books

Summary

International business, especially export-import trade, is no longer an option, but a necessity for today's apparel industry to grow and generate profits -- or just to survive in the global marketplace. The decision to export or import is best based on a company or individual entrepreneur's careful and thorough analysis of its internal and external resources and capabilities. Essentials of Exporting and Importing will provide the merchandising, marketing, or business student a practical, basic guide for importing and exporting products, services, or technology. Calling upon the knowledge and expertise of industry professionals and government officials, the authors will focus on the policies, procedures, and practices essential for success in the dynamic and expanding field of international trade. Features: -- Overall term assignment has students develop an import/export marketing plan -- Case studies and professional interviews draw upon real-world situations in international trade -- Appendices include Trade Documentation and INCO Terms, The Importer's Reasonable -- Care Checklist, Export-Import Career Capsules, and Export-Import Sources and Internet Links -- Instructor's Guide provides suggestions for planning the course and using the text in the classroom -- PowerPointreg; Presentation provides outlines and ideas for lectures; compatible with PC and Mac platforms

Author Biography

Harvey R. Shoemack is an instructor at the Illinois Institute of Art-Chicago and Oakton Community College.

Patricia Mink Rath is a faculty member emerita at the International Academy of Design and Technology, Chicago.

Table of Contents

Introduction	p. xiii
Preface	p. xvi
Acknowledgments	p. xviii
Globalization and the U.S. Export-Import Business	p. 1
An Overview of Global Business Today	p. 2
Benefits of Trade	p. 4
What Makes Up Global Business?	p. 8
Foreign Investment	p. 9
Export-Import Trade	p. 15
Recent Changes in U.S. Export-Import Trade Policies and Procedures	p. 18
Technology Energizes Globalization	p. 20
Electronic Technologies	p. 20
New Information Resources	p. 20
Communications Breakthroughs	p. 21
Supply Chain Management	p. 21
Challenges to Globalization	p. 22
Summary	p. 24
Key Terms	p. 25
Review Questions	p. 25
Discussion Questions and Activities	p. 26
References	p. 27
Globalization and Trade Liberalization	p. 28
International Alliances	p. 32
The International Monetary Fund (IMF)	p. 32
The World Bank	p. 32
The General Agreement on Tariffs and Trade (GATT)	p. 34
G8 Ministers Conferences	p. 39
Regional Alliances	p. 40
The European Union (EU)	p. 40
The North American Free Trade Agreement (NAFTA)	p. 45
Trade Liberalization	p. 48
Summary	p. 49
Key Terms	p. 50
Review Questions	p. 51
Discussion Questions and Activities	p. 52
References	p. 53
The U.S. Role in Global Trade	p. 54
Trouble in World Trade?	p. 57
Key U.S. Trade Relationships	p. 62
U.S.-Canada Trade	p. 64
U.S.-China Trade	p. 67
U.S.-Mexico-Trade	p. 76
U.S.-Japan Trade	p. 78
U.S.-Germany Trade	p. 81
U.S.-U.K. Trade	p. 82
U.S.-E.U. Trade	p. 83
U.S. Perspectives on Global Trade	p. 85
G20 Summits-Washington, D.C. (November 2008) and London, England (April 2009)	p. 90
Group of Seven Meeting-Rome	p. 91
Recent U.S. Trade Trends	p. 91
Prosperity Flows from Trade	p. 94
CAFTA-DRFTA	p. 94
MEFTA Free Trade Area	p. 95
Non-ratified FTAs	p. 96
The End of Textile and Apparel Quotas	p. 98
Summary	p. 101
Key Terms	p. 102
Review Questions	p. 103
Discussion Questions and Activities	p. 103
References	p. 104
U.S. Exporting Policies and Procedures	p. 106
Basics of Exporting	p. 108
What Is Exporting?	p. 110
Challenges to Exporting	p. 115
Deciding to Export	p. 115
Is Our Product Exportable?	p. 115
Exporting Goods versus Exporting Services	p. 116
Do We Have Sufficient Resources?	p. 117
Are We Prepared to Export?	p. 117
Getting Started in Exporting	p. 118
Export-Readiness Evaluation	p. 118
Market Entry Options	p. 120
Market Entry Strategies	p. 120
Determining Your Export Potential	p. 122
Developing an Exporting Marketing Plan	p. 123
Initiating Market Research	p. 126
Where to Begin	p. 126
A Step-by-Step Approach	p. 130
Formulating Pro-Active Strategies: Communication and Trade Shows	p. 131
Following Through with an Export Order	p. 132
Summary	p. 133
Key Terms	p. 133
Review Questions	p. 134
Discussion Questions and Activities	p. 134
References	p. 135
Additional References	p. 135
Appendix: Basic Resources Links Data	p. 136
Links	p. 137
U.S. Export Controls and Procedures	p. 138
The Export Administration Regulations	p. 142
Reasons for Export Controls	p. 143
National Security (NS)	p. 143
Foreign Policy (FP)	p. 143
Short Supply (SS)	p. 143
The EAR and Dual-Use Items	p. 144
New Dual-Use Export Control Initiative	p. 144
Foreign End-Users	p. 145
U.S. Competitiveness	p. 145
Transparency	p. 145
Export Licensing Requirements	p. 147
How to Determine if You Need a Commerce Export License	p. 147
What Are Your Exporting?	p. 148
Where Are Your Exports Going?	p. 149
Who Will Receive Your Export?	p. 151
What Will Be the end-Use of Your Export?	p. 152
Export Authorization	p. 154
No License Required (NLR)	p. 154
License	p. 154
License Exception	p. 154
Applying for an Export License	p. 154
Export License Application Processing	p. 155
License Status	p. 155
How to Avoid Delays	p. 155
Help with Export Administration Regulations	p. 155
Basic Export Documents	p. 156
Shipper's Export Declaration (SED or Form 7525-V)	p. 157
Commercial Invoice	p. 157
Certificate of Origin	p. 157
CE Mark Requirements	p. 157
Exporters Bill of Lading	p. 157
Insurance Certificate	p. 158
Export Packing List	p. 158
Import License	p. 158
Consular Invoice	p. 158
Inspection Certificate	p. 158
Dock Receipt and Warehouse Receipt	p. 158
Destination Control Statement	p. 159
Export License	p. 159
Summary	p. 160
Key Terms	p. 161
Review Questions	p. 162
Discussion Questions and Activities	p. 163
References	p. 164
Importing into the United States	p. 166
Basics of Importing into the United States	p. 168
Importing is a Privilege, Not a Right	p. 170
Why Imports?	p. 170
Risks to Importing	p. 173
Reasons for Importing	p. 174
The Market	p. 175
Some Questions to Ask about the Market for an Imported Product	p. 176
Conducting a S.W.O.T. Analysis	p. 176
Locating Foreign Suppliers	p. 180
Import Penetration	p. 183
Importing E-Tailers and Retailers	p. 185
The E-tailing Explosion	p. 185
Sourcing Options for Retailers	p. 185
Importing by Manufacturers	p. 187
Domestic Production-Foreign Materials	p. 189
Foreign Production-Domestic Materials	p. 191
Manufacturer-owned Foreign Production	p. 191
The Import Debate	p. 191
Summary	p. 196
Key Terms	p. 197
Review Questions	p. 198
Discussion Questions and Activities	p. 198
References	p. 199
Entering the Import Business	p. 200
Five Steps to Importing	p. 204
Determine Customs Classification	p. 204
Calculate Customs Quotas and Duties	p. 207
Find Out Special Customs Regulations	p. 213
Obtain Outside Agency Approvals	p. 218
Follow Sampling Procedures	p. 218
Summary	p. 219
Key Terms	p. 220
Review Questions	p. 221
Discussion Questions and Activities	p. 222
References	p. 223
Navigating the Maze of Import Controls	p. 224
History of U.S. Customs	p. 229
Import Controls	p. 229
U.S. Customs and Border Protection (CBP)	p. 229
Import Procedures	p. 240
Protest	p. 246
Mail Shipments	p. 246
Foreign Assets Control	p. 247
Compliance Assessment and Measurement	p. 247
Summary	p. 248
Key Terms	p. 249
Review Questions	p. 249
Discussion Questions	p. 250
References	p. 251
Rewards and Challenges of Export-Import Trade	p. 252
Exporting America's Fashion Goods Around the World	p. 254
Reasons for Exporting	p. 256
Exporting by Entrepreneurs and Young Designers	p. 259
Smaller Fashion Businesses	p. 259
Exporting by Retailers	p. 261
Macy's and Bloomingdale's	p. 263
Saks, Incorporated	p. 263
Exporting by Fashion Marketing Organizations	p. 267
Abercrombie & Fitch	p. 267
GUESS, Inc.	p. 267
Estée Lauder Companies, Inc.	p. 267
Levi Strauss & Co.	p. 271
Nike, International	p. 272
Williams-Sonoma, Incorporated	p. 272
Exporting by Designers	p. 277
Summary	p. 279
Key Terms	p. 279
Review Questions	p. 280
Discussion and Activities	p. 280
References	p. 281
Getting Paid or Paying for Exports or Imports	p. 282
Methods of Payment	p. 290
Cash-in-Advance	p. 291
Letters of Credit	p. 292
Documentary Drafts	p. 297
Open Account	p. 298
Cosignment	p. 298
Selecting Your Banker	p. 302
Summary	p. 304
Key Terms	p. 305
Review Questions	p. 306
Discussion Questions and Activities	p. 306
References	p. 307
Glossary	p. 309
Credits	p. 319
Index	p. 323
Table of Contents provided by Ingram. All Rights Reserved.