It's almost easy to talk about what's not in the agreement versus what is in the agreement,' says industry expert Marianne Rowden. Dive into the details of the new WTO digital trade agreement and what it means for your international business. In this episode we are joined by Marianne Rowden, President of the E-Commerce Association, to discuss the evolving landscape of digital trade and data flows. With governments eyeing the potential to tax cross-border digital transactions, this conversation provides crucial insights for importers, exporters, and trade professionals navigating the complex world of international e-commerce. Main Topics and Takeaways: The WTO's Moratorium on Customs Duties: Marianne explains the history of the WTO's moratorium on customs duties for electronic transmissions, and the challenges faced in extending this agreement. Key Insight: "The final agreement, released on July 26, only provides a five-year moratorium on customs duties after adoption, which is shorter than expected." Impact of Digital Taxation on Global Trade: Marianne and Andy discuss the rationale behind governments' desire to tax digital transactions, and the geopolitical implications for countries like the US that have historically not taxed internet companies. Standout Quote: "As that disparity has grown, other countries desire to tax has grown because they feel that they're really just taxing American companies." De Minimis Shipments and Legislative Efforts: The conversation delves into the mushrooming volume of de minimis shipments entering the US, and the various legislative bills aimed at restricting and taxing these low-value imports. Key Takeaway: "The bills aim to restrict the use of de minimis and impose additional data requirements and penalties." Reciprocal De Minimis Agreements and Customs Processing: Andy suggests the potential for reciprocal de minimis agreements to level the playing field for US companies, while Marianne highlights the need for adequate staffing and facilities to process these shipments. Insightful Quote: "If you're going to utilize that same process, then you need to step up and have the facilities pay the surcharges and make sure that customs and the other agencies then are staff." Wrap-up: This episode provides invaluable insights for importers, exporters, and trade professionals navigating the evolving digital trade landscape. By understanding the key issues surrounding the taxation of cross-border data flows and de minimis shipments, listeners can stay ahead of the curve and make informed decisions to support their international business operations. Enjoy the show! Sign up for the upcoming Forced Labor training (Supply Chain Tracing) here: https://globaltrainingcenter.com/forced-labor-supply-chain-tracing/ Find us on YouTube: https://www.youtube.com/@SimplyTradePod Host: Andy Shiles: https://www.linkedin.com/in/andyshiles/ Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/ Co-Producer: Mara Marquez: https://www.linkedin.com/in/mara-marquez-a00a111a8/ Show references: Global Training Center - www.GlobalTrainingCenter.com Simply Trade Podcast - twitter.com/SimplyTradePod Marianne Rowden - https://www.linkedin.com/in/marianne-rowden-43456110/ E-merchants Trade Council Inc - https://www.emtc.org/ Contact SimplyTrade@GlobalTrainingCenter.com 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 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.
