Simply Trade [News/Affairs]: NCBFAA Panel talks Trade Turmoil - How a Government Shutdown Could Upend Global Trade
Join hosts Annik, Lalo and Andy as they bring together a panel of experts from the NCBFAA to discuss the potential government shutdown on October 1, 2023, and its ramifications on international trade.
As the risk of a shutdown looms, the panelists explore the challenges that the trade industry must overcome, the need for collaboration between government agencies and the private sector, and how to ensure the smooth flow of legitimate trade.
The panelists stress the importance of maintaining trade services during a shutdown and discuss the challenges of keeping trade flowing smoothly, especially at the southern and northern borders.
They highlight the operation of the CBP 'War Room' and emphasize the importance of seamless communication among trade agencies.
The conversation also covers the need for adequate staffing of partner government agencies in order to avoid disruptions to legitimate trade, and the responsibility of customs brokers to maintain compliance with import regulations.
Various insights and takeaways from the discussion include the significance of continuous support from partner government agencies, the need for importers to have access to necessary licenses and permits, and the potential consequences that a shutdown and lack of funding could have on facilitation of trade.
Megan Montgomery, Executive Vice President of the NCBFAA, reiterates the importance of their organization's advocacy in ensuring proper parties are in place during the potential shutdown.
This enlightening episode emphasizes the critical need for adequate preparation and coordination in the face of a looming government shutdown and its impact on international trade.
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