The #1 Thing (and two more) Customs Will Focus on This Year - Are You Ready? - With Amy Magnus and Cindy Allen

The future of trade is all about data - how we collect it, share it, and use it to both facilitate trade and enforce regulations. This was a key topic of discussion on today's episode featuring trade experts Amy Magnus and Cindy Allen.

Focus on Data and Entities
The guests agreed that in 2024, data and understanding entities (importers, manufacturers, etc.) will be hugely important. "It's really going to come down to data," said Amy Magnus. She explained how collecting and intelligently using data from all entities in a supply chain can help customs inspect high-risk shipments while expediting low-risk ones.

Piloting New Approaches
New pilots are exploring how to share data earlier in the trade process using distributed ledger technology. This could provide visibility to all parties and satisfy enforcement needs upon arrival. Experts recommended importers get involved in pilots like the Global Business Identifier to help shape solutions.

Addressing Agency Requirements
The podcast also touched on challenges different agencies like FDA pose with various import data needs. As Amy Magnus noted, meeting all these requirements currently relies on outdated paper-based systems, highlighting the need for automation.

Takeaways for Importers
Key advice for importers included understanding supply chain risks through tools like mapping, hiring compliance experts, and engaging with trade associations like nei.org, icpa.com and alex.org to stay informed on upcoming regulations. The discussion provided actionable insights on facilitating trade in line with increasing enforcement trends.

Find us on YouTube: https://www.youtube.com/@SimplyTradePod 

Enjoy the show!

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 

• Amy Magnus - https://www.linkedin.com/in/amy-magnus-16237b12/ 

• Cindy Allen - https://www.linkedin.com/in/cindy-allen-a3188210/ 

• Trade Force Multiplier - https://tradeforcemultiplier.com/ 

Contact SimplyTrade@GlobalTrainingCenter.com or message @SimplyTradePod for:

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