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Corona Virus Impact on International Trade: Thinking Ahead

Country by country from Italy to the US, everyday there are new reports of widening infections, travel bans and trade being on indefinite hold.  In addition, many depend greatly on exported goods from the Chinese market, and with the escalating virus concerns placing multiple factories on virtual standstill, what does this mean for international trade?

Like all of you, we are hopeful that the virus will be arrested, and are taking every necessary precaution to do our part and keep our employees safe.  Thinking ahead, once international trade starts to recuperate, we believe there will be a sudden influx of import activity which could create a “pig in the python” scenario, causing delays in clearing. Without the help of automation, it will be difficult to cope with this sudden inflow of declarations.

KlearNow invites you to start thinking ahead for this scenario and how to proactively prepare.  The typical customs broker has a maximum capacity of throughput for entries per day. This will present a significant bottleneck and trickle-down effect of delays, demurrage, per diem when shipments begin entering the USA requiring customs clearance entries well beyond the max capacity a customs broker can handle per day.  

As an importer, you can mitigate your risk with our digital solution. At KlearNow we are here to help you navigate this uncertain period with proven technology that does not operate with the same limits of yesterday. We give you the fastest way to clear your shipments and with our digital tool you can rest assured your goods will not be “pending” entry. Stay ahead, clear your goods now with KlearNow.