Important Factors To Consider In Cross-Border Trade 17/07/2021 17/07/2021 gdutborg

When the flow of cross-border trade between the US and Canada plummeted during the early months of the coronavirus pandemic, it reinforced the doubts over the future of globalization. However, as the world moved to 2021, a more hopeful picture is painted for cross-border trade. A huge part of the global economy relies on the production of goods and the need to transport the goods from the place of production to where customers are.

Read the following figures to gain a better picture of the cross-border trade between the US and Canada.

  • In 2017, US exports to Canada were valued at $341 billion or 15% of all total US exports
  • More than 30 states in the US have Canada as their number one export market.
  • In 2017 alone, US exports to Canada exceeded all the total US exports to other countries like China, Japan, South Korea, and Singapore combined.
  • In 2017, the total of US exports to Canada was valued at $282 billion
  • Canadians spend more than 60% of their disposable income on US products and services.

It is very likely for a US-based company to find a Canadian buyer that is interested in their products. However, the issue is to how to ship the product from the US to Canada. There are different factors that have to be considered like commercial invoices, cargo liability limitations, duties, customs clearances, and many more.

To facilitate the shipment of goods from the US to Canada, it is important to have a customs broker who is skilled in navigating the requirements of government agencies, regulations, protocols, and updates that tend to overwhelm business owners.

The customs clearance must be resolved for the exported goods to streamline cross-border transport. This involves obtaining, preparing, and presenting all the required customs paperwork to customs officers at the borders. Needless delays can be avoided by working with a customs broker.

Another important thing to consider is the trucking company. Your best option is Titan Transline that has a professional and skilled team in cross-border transport. Your products will be seamlessly transported regardless of whether they are oversized, fragile, and time-sensitive or require temperature-controlled equipment.