De Minimis Increase Supports SME Trade; Enforcement Provisions Help Trade Agreements Deliver Results
UPS® (NYSE: UPS), a leading global logistics provider and advocate for global trade, commends the Senate and House on passing the Trade Facilitation and Trade Enforcement Act of 2015 and urges the President to expeditiously sign it into law.
“This legislation takes time and unnecessary cost out of cross-border trade and will broadly bolster the nation’s customs enforcement efforts," said UPS Global Public Affairs President Laura Lane. "We want to thank all the members of the House and Senate for their leadership, and particularly those that led the efforts, including Senate Finance Chairman Orrin Hatch, Senate Finance Ranking Member Ron Wyden, Speaker of the House Paul Ryan and House Ways & Means Chairman Kevin Brady.”
UPS operates one of the world’s largest, most sophisticated, intermodal transportation service networks and is one of the world’s largest customs brokerage firms. UPS handles more than 6% of the U.S. GDP and 2% of the global GDP every day. That makes UPS well-qualified to assess the impact of customs modernization on the U.S. economy, and is why the company champions this important piece of legislation.
“The bill includes important provisions such as raising the de minimis threshold from $200 to $800, which particularly benefits small and medium enterprises, Lane added. Additionally, it codifies and improves the President’s Executive Order on International Trade Data System (ITDS) or the Single Window (one government at the border) program. Implementation of the ITDS is a priority for UPS as it would enable companies to electronically transmit, through a “single window,” the data required by each of the U.S. Government agencies to import or export cargo.”
UPS (NYSE: UPS) is a global leader in logistics, offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business. Headquartered in Atlanta, UPS serves more than 220 countries and territories worldwide. UPS was awarded America’s Best Customer Service company for Shipping and Delivery services by Newsweek magazine; Forbes Most Valuable Brand in Transportation; and top rankings on the JUST 100 list for social responsibility, the Dow Jones Sustainability World Index, and the Harris Poll Reputation Quotient, among other prestigious rankings and awards. The company can be found on the web at ups.com or pressroom.ups.com and its corporate blog can be found at longitudes.ups.com. The company’s sustainability eNewsletter, UPS Horizons, can be found at ups.com/sustainabilitynewsletter. To get UPS news direct, follow @UPS_News on Twitter.
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