Upon successful completion of this course, the student will have an overall understanding of how to import into the United States from anywhere on the globe. So much of the import process is driven by the presence of U.S. Customs, that a large emphasis will be placed on understanding the role of Customs as it relates to importing. Importing, like its mirror image discipline, exporting, is documentation intensive. This course will cover the most common documents required in an import transaction and explain their purpose and application. The primary text is a shared text between this course and its sister course, Export Management, appropriately entitled Export/Import: Procedures and Documentation by Thomas E. Johnson (Ex/Im). This text will be supported by a several U.S. government publications entitled, U.S. Import Requirements, Importing into the United States: A Guide for Commercial Importers, Marking of Country of Origin on U.S. Imports, Temporary Importation under Bond and U.S. Customs Bonded Warehouse.
- Explain the major aspects of importing in the context of the current global business environment.
- Understand the regulatory and statutory issues associated with successful importing.
- Achieve an awareness of the major role played by U.S. Customs in the import transaction.
- Understand the significance of the Harmonized Tariff Schedule (HTS) as it relates to the cost of importing.
- Be able to identify free trade agreements between the U.S. and other countries and their impact upon the importer.
- Recognize that imports play a major role in our economy and understand the process by which these goods enter the commerce of the United States.