Blog/News

Trade Protection Financing Announced at ETC!

Express Trade Capital is pleased to announce the latest in our growing selection of innovative financing services with Trade Protection Financing. We will use a combination of specialized credit enhancements, along with preferred pricing structures, to offset any potential tariff cost implications due to new legislation. We are fully equipped to help you purchase goods at a reasonable price worldwide, even during these uncertain times, with our full spectrum of trade finance, supply chain, and logistical solutions.

Contact us to take advantage of this innovative and exciting new financial vehicle!


US Import Tariff Updates

Sadie Keljikian, Express Trade Capital

The following is an update on recent tariff adjustments on steel, aluminum, and Chinese-made products.

Steel and Aluminum Products:

Several Presidential Proclamations signed in March 2018 have collectively implemented Section 232 of the Trade Expansion Act of 1962. The Proclamations primarily serve to adjust imports of aluminum and steel into the United States. The proclamations indicate that covered steel mill and aluminum product imports will be subject to additional tariffs of 25% ad valorem and 10% ad valorem respectively. The following products are covered:

  • Steel mill product HTSUS classifications:
    • 10 through 7216.50 including bars, rods, ingots and angles.
    • 99 through 7301.10 including wire, bars, rods, ingots and sheet piling.
    • 10 rails.
    • 40 through 7302.90 including sleepers and plates.
    • 11 through 7306.90 including pipes, hollow profiles and tubes.
  • Aluminum product HTS classifications:
    • 7601, unwrought aluminum.
    • 7604 including rods, profiles and bars.
    • 7605, aluminum wire.
    • 7606 and 7607 including flat rolled products like foil, sheet, strip and plate.
    • 7608 and 7609 including pipes, tubes, and pipe and tube fittings.
    • 99.51.60 and 7616.99.51.70, forgings and castings.

The newly implemented tariffs will be added to all existing duties and will apply to all countries of origin except for a specific list of exempted countries. Exempted countries include Argentina, Australia, Brazil, Canada, Mexico, South Korea and European Union members, which include Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom.

As of now, exemptions are limited through April 30th, 2018, but it is unclear whether they will be extended beyond that date. Extension of the exemptions may lead to a change in the rates applied to other countries and/or restraints on quotas for some, or all countries of origin.

Products from China:

On March 22, 2018, President Trump announced his plan of action to combat China’s unfair trade practices as addressed in the USTR Section 301 investigation of China’s Policies, Acts, and Practices pertaining to Intellectual Property, Innovation and Technology Transfer. As the president’s instructions, US Trade Representative Robert Lighthizer began the investigation in August of 2017.

President Trump has indicated that action against China will be taken in three stages:

  • Tariffs. Representative Lighthizer will propose a list of products with corresponding tariff increases within 15 days of the announcement on March 22, 2018. The final list will be published after a brief period for notice and comment.
  • WTO dispute settlement. Representative Lighthizer will attempt to settle the dispute in the World Trade Organization, or WTO to address discriminatory practices in China’s technology licensing.
  • Restricted investments. The Secretary of the Treasury will address concerns about investors in China or investments facilitated in China in US industries or technologies deemed important to the US.

On the bright side, President Trump signed an omnibus budget bill into law which aims to end the ongoing cycle of resolutions and government shutdowns. It also renews the General System of Preferences, or GSP, which seeks to ensure fair trade practices among WTO countries. The bill will extend GSP through December 31st, 2020 and retroactively renew it to the previous expiration on December 31st, 2017. Goods that arrive in between will be eligible for a refund, if indicated properly. The GSP will officially go back into effect on April 22, 2018.


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Retailers Speak Up About Trump’s Tariff Plans

Sadie Keljikian, Express Trade Capital

A collection of the largest global retailers have written an open letter to President Trump following his move to impose tariffs on $60 billion in exports from China.

Since his campaign, Trump has expressed frustration with the trade gap between the US and China, leading many to fear an oncoming trade war. Until today, however, the trade relationship between the US and China was more or less unaffected.

The retailers in question account for more than $1.5 trillion in annual sales and tens of millions of US jobs. They respectfully suggested that they work together with the president to come up with a solution less likely to negatively impact working American families.


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ETC Featured in TSL!

Sadie Keljikian, Express Trade Capital

Express Trade Capital is proud to be featured twice in The Secured Lender‘s first ever “Innovators” issue!

The new issue details ETC’s own VP Ashley Orlando and Managing Director Mark Bienstock, both of whom give details on Express Trade’s eco-financing efforts.

Click to see our announcement and read the full articles about innovations in the finance industry and the growing relationship between earth-conscious wholesalers and alternative lenders!

Learn more about our trade finance solutions here.

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Happy Chinese New Year from ETC!

 

As the Chinese New Year fast approaches, businesses are pre-emptively preparing for the expected shorter payment terms of their Asian suppliers.   In many instances, suppliers need funding for materials and production before the goods are shipped.  In such cases, open credit terms are not feasible, and this presents a prime opportunity to use our purchase order financing programs.

Simply put, our programs allow wholesalers to meet customer demand and fulfill their purchase orders.  By providing financing tailored to accommodate their own and their supplier’s needs, our programs enable clients to reduce risk while increasing cash flow all throughout their supply chain.  So if working capital or cash flow make it difficult to keep up with new orders and production, ETC can help.

ETC’s purchase order funding programs provide tools that empower clients to do more, risk less, and reach new heights.   Our platforms offer clients numerous advantages:

  • Letters of credit and documentary collection payments to cover the entire cost of goods and shipping
  • 100% cash funding for inventory in-transit, freight, duty and other related costs of transporting goods
  • Reduced risk, enhanced knowledge, and greater efficiency throughout the supply chain
  • A one-stop shop for financing and logistics solutions that allows for seamless integration with existing lenders
  • And more . . .

Contact us to learn more!


Winter Holiday Hours Announcement

Valued clients and associates:

Please be advised that in observance of Christmas and New Year’s Day, we will close early this Friday, December 22nd and next Friday, December 29th at 3pm and we will not open on Monday the 25th and Monday the 1st. Aside from those days/times, we will be fully operational.

Please plan your transactions accordingly and have a very happy holiday!


ETC Featured in Retail Merchandiser

Sadie Keljikian, Express Trade Capital

Express Trade Capital is proudly featured in the current issue of Retail Merchandiser!

Managing Director Mark Bienstock, Director of Opportunity Drew Cohen and Senior Vice President David Estrakh spoke with Retail Merchandiser’s Bianca Herron about what makes ETC’s approach unique, how we’ve grown into the institution we are today, and our latest projects, most notably Stern Corporate Services Group.

Click to read the full article.

Contact us for more information on our trade finance and logistical solutions.


Holiday Hours Announcement

Valued clients and associates:

Please be aware that we will be closing our office at 3pm EST on Wednesday, November 22nd and will remain closed through Friday the 24th in observance of Thanksgiving. We will resume normal operational hours (Monday through Friday, 9am-5pm) on Monday, November 27th and ask that you please plan your transactions accordingly.

All of us at ETC wish you a very happy holiday!


EXPRESS TRADE CAPITAL, INC ANNOUNCES ECOMMERCE & INVENTORY FULFILLMENT FINANCING

Express Trade Capital, Inc., a dynamic leader in trade finance, factoring, purchase order funding and logistical financing, is excited to add another financing tool to its growing arsenal of services.

To address overwhelming demand from clients and prospects engaged in the rapidly expanding ecommerce market, we are now providing customized financing solutions to companies with demonstrated online sales. The ability to finance e-commerce and inventory replenishment programs for both USA-based companies and entities with overseas ownership presents a unique opportunity for Express trade Capital to push the boundaries of commercial trade finance and expand its role as an industry leader.

The programs arose in light of the interest we received from a number of prospects and clients who needed this “add-on” service to supplement their traditional wholesale business channels. With our strong logistical background and expertise and our deep relationships with 3PL facilities around the globe, we are suitably equipped and well positioned to execute these new financing programs.

This announcement comes from Mark Bienstock, Managing Director. For more details please contact David Estrakh – 212-997-0155 david@expresstradecapital.com