By Karen A. Lobdell – Director, Product Management for Thomson Reuters

What is the value to your company of a robust corporate social responsibility program that holds foreign vendors accountable to global regulatory requirements? Can you afford to pay tens of millions of dollars in penalties over numerous years rather than implement a compliance program? Can your brand withstand the bad press that comes with violations? A good test case for these questions is to consider the most recent Department of Justice violation for Lumber Liquidators, Inc.

A trade agreement between Indonesia and Australia has been hailed as a timely signal to the world about the importance of free trade. The Indonesia-Australia Comprehensive Economic Partnership Agreement (IA-CEPA) was signed on March 4, 2019 in Jakarta.

The IA-CEPA will allow 99% of Australian products to enter into Indonesia tax-free or with significantly improved preferential agreements. All goods from Indonesia will enter into Australia duty-free.

Charlotte, NC, USA – March 14, 2019 – BYTON, an electric vehicle (EV) startup headquartered in Nanjing, China, has announced their partnership with Thomson Reuters ONESOURCE Global Trade, powered by Integration Point. With the increased market access and improved import and export management offered by ONESOURCE Global Trade, BYTON plans to grow their business footprint worldwide.

BYTON entered into the EV market in 2016 with the intent to push the boundaries of mobility through digital transformation. After recruiting staff from a range of international companies and premiering their first EV concept in January 2018, BYTON set their sights on mass production and a tentative 2020 release date into U.S. and China markets. Along with ERP deployment at a brand new manufacturing facility, BYTON prioritized implementing a cloud-based customs operating system to streamline their import and export processes and maintain compliance in the constantly evolving trade environment.