Pros And Cons For US Importers Of New EU Customs Code
May 12, 2016
Partner Laura van der Meer and special counsel Laura Rabinowitz co-authored the Law360 article “Pros And Cons For US Importers Of New EU Customs Code.” In this article, they examine the new Union Customs Code (UCC), which controls all trade with the European Union. The UCC, adopted by the EU in 2013, is intended to clarify customs regulations throughout the EU and to create an electronic system to expedite entry and exportation procedures. The authors note that several provisions of the newly implemented UCC will likely be beneficial for multinational businesses as they will simplify the customs and trade environment. However, a number of other new provisions, particularly those related to the valuation of merchandise, will increase the duty burden. They analyze some of the most important change so that companies which manufacture in the U.S. or Asia and import into the EU or manufacture in the EU and export can be aware of the regulatory changes with respect to EU customs authorities.