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Questions about International Trade Laws

What is International Trade?

International trade has been around for centuries and has a huge impact on most countries economies. This is basically the exchange of services, product and capital across international borders. Increased technology and advanced globalization of multinational corporations has had an impressive impact on international trade. Without international trade, countries would have to rely on their own resources and goods found within their countries borders. Products of international trade are present in every aspect of our daily lives. From the salt in your kitchen, the television in your living room to the clothes that you wear, these are all products of international trade.

My LLC was involved with importing manufactured goods from China. The LLC was dissolved earlier this year, and it appears that US Customs may try to charge the LLC for anti-dumping duty charges. How do I keep the liability within the LLC, and protect my personal assets? Should I keep the LLC open or keep it dissolved?

You need to keep the LLC operating and in good standing. The Court of international Trade recently had a case where a corporation was found innocent of any wrongdoing when charged with anti-dumping duties. This is why it is important for you to keep the LLC. You should consult an attorney to assist you with reinstating your LLC. You shouldn't delay in taking action. If you would like to read more about the decision on the international trade court,

You can read more here: http://www.cit.uscourts.gov/slip_op/Slip_op08/Slip%20Op%2008-142.pdf

How does the war on terrorism impact U.S. managers and companies doing business globally?

Because of heightened security, international trade tends to be on the radar. Many companies may be affected by the war on terrorism without even realizing it. In order for a company to protect itself and its interest in international trade, the corporation needs to be aware of the all laws regarding international trade. A company may find itself dealing in illegal activity without even realizing it. This is why it is so important for the corporation to be knowledgeable of who they conduct business with, how they exchange money, where they place international calls and their knowledge of certain technologies, and how these things can affect the business.

I have a client that purchased $25,800 in marketing on Sat. He signed the invoice which states all sales are final and he also did a verbal verification which stated the same. That day, we paid $18,000 for the marketing services and started his campaign. The next day he sends an email saying he has changed his mind and that by international trade clause he was supposed to receive a letter of assertion and did not. He wants all of his money returned. Do we have to return the entire amount since we had already began finding him clients?

In this situation, you had an agreement with this person and spent money on his behalf to begin the campaign. You have offered to return a portion of the money which in light of the situation is more than fair on your part. You shouldn't have to return the full amount since you had already invested a portion per the agreement. If you didn't incorporate any provisions in your contract pertaining to the rules and regulations of an international entity, this wouldn't affect your contract.

We have an exclusive manufacturing contract with a company. We found out the company is violating the contract and buying direct from one of our suppliers overseas. Should I stop the shipment by contacting custom authorities?

Attempting to stop a shipment in this manner would be an illegal act. Regardless of whether you are in the right, if you attempt to stop the shipment, you could possibly be charge with a tort for interfering with a contract. You would need a court order to stop the air shipment. You might be successful in stopping the air shipment until a court could review the situation. It may be possible to stop the shipment by contacting customs, but only if the shipment is in violation of US import/export law. If the shipment isn't in violation, this would not be an alternative. Another alternative would be to let the shipment happen and then sue for any damages that may result in the transaction.

International trade affects us in every aspect of life. It is an important factor in the economy and international business. Having knowledge of the laws of international trade is an extremely important element in conducting business abroad. If you are unsure of the international trade laws, don't hesitate to seek legal insight from an Expert.

Ask a Business Lawyer

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Recent International Trade Questions

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    Is rental income considered income if there is a mortgage on it and no equity. What if the house is in foreclosure and the loan is not being paid but the debt is still owed and one does not yet know what the outcome will be such as if will get to catch up and save house or short sale or end up getting a deficiency judgment.
  • We are a corporation based in Nevada. If we use FBA (Fulfillment

    We are a corporation based in Nevada. If we use FBA (Fulfillment by Amazon) and our inventory gets fulfilled from a warehouse in NEW JERSEY, we understand that this creates "nexus". It appears fairly clear that we are thus liable for reporting and paying sales tax for shipments into/within NJ.
    However registering for a sales tax permit in NJ requires a NJ business ID, which means we have to register as a foreign corporation. Which in turn will cost a $125 filing fee.
    Assuming that we are on point thus far, our question is if we are also subject to NJ Corporation Business Tax. If that is the case, it appears that we would be liable for $500 minimum tax per year, even if we never make a single sell in New Jersey.
  • I USED TO RUN A FINANCE BUSINESS,A C-CORPORATION FOR LAST 20+

    I USED TO RUN A FINANCE BUSINESS,A C-CORPORATION FOR LAST 20+ YRS. WITH MYSELF AS PRES. AND ONE EMPLOYEE. BUSINESS CLOSED DOWN DUE TO LOSSES. AS ALWAYS STATE OF FLORIDA REGULATOR CONDUCTED AN EXAM-AUDIT BEFORE CLOSING. WITH THE CHANGES IN PROCEDUDER IN LAST ONE AND A HALF YEAR, I BEEN ASKED TO PAY EXAM AND PROCEDURAL FINDINGS (DEFECT) CHARGES,OUT OF MY KNOWDGE. AM I PERSONALLY LIABLE TO PAY CHARGES ?
    CORPORATION HAS NO MONEY BUT LOSSES. I APPRECIATE YOUR RESPONSE. THANKS.
    DANNY SHAH
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