Technology development requires many inputs. Many people should be interested in changing international trade regulations. Technology plays an important role in the international trade landscape. It is the largest segment of U.S. trade as a whole. This is due to the insatiable desire of consumers and businesses to have the best in content, devices, and software, and, by extension, the digital infrastructure that makes it all work.
Trade in technology goods or services is also an enabling factor. It creates its own virtuous circle. Simply put, technology creates a virtuous cycle in which more people and businesses have the ability to communicate, create, and exchange. This encourages even more trade.
Changes to international trade regulations and compliance will be possible with the new administration. Businesses that depend on imports or exports for their operations will need a pivot to adapt to these changes in order to remain compliant. How can you help your customers seamlessly transition if they do business internationally?
Join the CompTIA International Trade Regulating & Compliance (ITRC).
CompTIA’s International Trade Regulation & Compliance practice (ITRC), offers a pool 400+ trade policy and compliance professionals from top technology companies. It’s a great place to start.
Through regulatory updates, education events, and meetings with government officials on top topics, we assist members in developing strong global compliance programs. Our efforts assist member companies in minimizing risks, optimizing trade operations, and improving their bottom line.
ITRC is made up of two primary committees.
Export Controls Committee
These committees have targeted working groups that are responsible for initiatives related to classification and valuation, rules of origin and cloud computing, encryption and enforcement. There are also groups that focus on compliance best practices or high-priority regulatory changes. The CompTIA ITRC is the best choice if you want to find out more or keep up with new developments.
What does the Customs Committee do?
The Customs Committee advocates on behalf of our members. The committee is responsible for monitoring and communicating regulatory changes on an ongoing basis. CompTIA met with 18 government officials and industry partners in 2020 and participated in the World Customs Organization’s Harmonized System Committee meeting and the Review Subcommittee meeting, which reviewed changes to the harmonized systems.
The committee also submitted 14 comments letters on behalf our members on issues such as classification of specific products or technologies, tariff exclusions, and the implementation the United States-Mexico Canada Agreement (USMCA). Members also benefit from regular committee meetings, ongoing education, access to research, and benchmarking surveys.
Learn more about the Customs Committee Ken Montgomery can be reached.
What does the Export Controls Committee do?
This group works to reduce regulatory and market barriers for U.S. technology products. The Export Controls Committee met in 2020 with nine government officials from four government agencies, including the Bureau of Industry and Security, the Office of Foreign Assets Control (OFAC), and the Office of Defense Trade Controls Policy.
The committee also submitted 20 comments letters, which provided our members’ perspective on significant regulatory changes, including the Export Control Law, China, addition to export controls for geospatial imaging software, expansion in military end-use/user control, and possible new export controls on foundational technology.
Find out more about the Export Controls Committee. Ken Montgomery can be reached.
Technology development requires many inputs. These include raw materials as well as various components and software layers. Technology is often a platform and enabler. It allows users to run applications, conduct business activities, or enjoy entertainment content. Trade is not the only factor that affects the labor behind these technology enhancements and inputs. Indirectly, the workers of law firms, shipping firms, marketing firms, and others have a hand in the pot. There are many people who may be interested in changing international trade regulations.
Get involved! Join the International Trade Regulation & Compliance Practice to help foster a global network of trade professionals who share best practices.
This article is part 10 of a 10-part series that aims to provide an overview of CompTIA member benefits for organizations.