Streamlined Trade Data System May Speed Enforcement

By Scott Flaherty (February 25, 2014, 8:28 PM EST) -- An executive order calling for a single, electronic portal for submitting export and import information to the U.S. government is expected to reduce trading costs, but attorneys say companies should plan to maintain strong compliance programs since the streamlined system could also make it easier for federal agencies to enforce trade rules.

President Barack Obama on Feb. 19 signed an executive order to speed the creation of an International Trade Data System that would allow businesses to provide trade-related information to the government electronically, through a "single window." The government has been moving toward a single electronic portal for several years...

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