ACE Reports provides users with a basic understanding of reporting capabilities within ACE. Along with an overview, multiple spreadsheets that contain data elements for account revenue, aggregate and detail reports, BRASS report and quick views that will assist importers and brokers in determining which report to run based on your individual needs.
This document (pdf format) provides instructions on how to run ACE Secure Data Portal reports using the new ACE reports tool. The following ACE fact sheets have been updated, and are available on the CBP website: ACE At a Glance Fact Sheet and ACE: Initial Entry, Summary, Accounts, and Revenue Features Fact Sheet (pdf format).
August 31, 2007
August 30, 2007
Loonie Falls as Central Bank Backs Off
(Globe and Mail)
The Canadian dollar fell nearly a penny Tuesday after a Bank of Canada official suggested interest rates may not rise in September and U.S. house prices suffered their worst decline on record in the second quarter.
The loonie dropped 0.96 of a cent lower to close at 93.89 cents (U.S.). Canada’s currency has dropped from a 30-year high of 96.36 cents on July 25, caught up in the selling triggered by the U.S. subprime mortgage crisis and the resulting credit market woes.
The Bank of Canada, which raised rates to 4.5 per cent on July 10 and indicated at that time that further increases may be needed to stem inflation, is now re-evaluating its efforts to reign in inflation.
On Monday night, BoC deputy governor Pierre Duguay said that “given recent events in global credit markets, we need to assess the extent to which the risks around our July projection have shifted.”
The central bank’s next interest rate announcement is slated for Sept. 5. Economists and market futures suggest everyone now expects rates will hold steady.
“Looks like a pause, next week,” said Michael Gregory, a senior economist with BMO Nesbitt Burns Inc. in a report to clients.
Stewart Hall of HSBC Securities (Canada) Inc. agreed that the speech set the stage for a September pause in the rate cycle.
“Last night’s speech [by the] deputy governor, nominally a talk about the Bank’s research agenda and inflation targeting, was for markets a chance to hear from the bank before they enter the cone of silence next Wednesday to make a decision on rates,” he said.
“Although in keeping with the rest of the developed world’s central banks there is a reticence to cut rates on the back of what could be a transitory event.”
Rebecca Patterson, global currency strategist at JPMorgan Chase & Co. in New York, said that negative U.S. housing data triggered renewed selling on equity markets, which was in turn pressuring the loonie.
“Worries about U.S. housing and quite a few corporate headlines have made people nervous. That has gotten the risk aversion ball rolling and the Canadian dollar tends to underperform in that environment.”
The S&P/Case-Shiller U.S. National Home Price Index index fell 3.2 per cent to 183.89 last quarter from the same period in 2006, its sharpest decline since the index was created in 1987, S&P said in a statement.
Investors were also unwinding carry trades, a practice where investors borrow a currency at low interest rates and reinvest in higher-yielding currencies, which generally leads to further losses for the loonie.
“Over the next few weeks, I am a seller of the Canadian dollar because I think it is too early to say we are out of the woods with risk-aversion,” Ms. Patterson said. “If the Fed does not cut rates in September or if the liquidity injections are not kept at full blast, the risk is that the markets could get disappointed.”
In addition, the market is nervous about what companies could say about how the credit crunch and housing woes are affecting their business. “There is a lot of uncertainty in corporate headlines. This could keep investors nervous about getting back into these carry trades,” Ms. Patterson said.
Mr. Hall said there are other familiar market themes driving currency trading, notably subprime concerns and Tuesday morning’s release of the U.S. consumer confidence number for August.
The Conference Board reported that U.S. consumer confidence index fell to 105 in August from a revised 111.9 in July, the lowest level of since August, 2006, and the biggest drop since Hurricane Katrina hit the U.S. Gulf coast in September, 2005.
“Consumer attitudes have soured due to falling home prices, volatile equity markets and tightening credit practices,” said Sal Guatieri, a senior economist with BMO Nesbitt Burns Inc. “While the current level of confidence is by no means weak, further declines in the months ahead would greatly increase the downside risks to the economic outlook.”
The Canadian dollar fell nearly a penny Tuesday after a Bank of Canada official suggested interest rates may not rise in September and U.S. house prices suffered their worst decline on record in the second quarter.
The loonie dropped 0.96 of a cent lower to close at 93.89 cents (U.S.). Canada’s currency has dropped from a 30-year high of 96.36 cents on July 25, caught up in the selling triggered by the U.S. subprime mortgage crisis and the resulting credit market woes.
The Bank of Canada, which raised rates to 4.5 per cent on July 10 and indicated at that time that further increases may be needed to stem inflation, is now re-evaluating its efforts to reign in inflation.
On Monday night, BoC deputy governor Pierre Duguay said that “given recent events in global credit markets, we need to assess the extent to which the risks around our July projection have shifted.”
The central bank’s next interest rate announcement is slated for Sept. 5. Economists and market futures suggest everyone now expects rates will hold steady.
“Looks like a pause, next week,” said Michael Gregory, a senior economist with BMO Nesbitt Burns Inc. in a report to clients.
Stewart Hall of HSBC Securities (Canada) Inc. agreed that the speech set the stage for a September pause in the rate cycle.
“Last night’s speech [by the] deputy governor, nominally a talk about the Bank’s research agenda and inflation targeting, was for markets a chance to hear from the bank before they enter the cone of silence next Wednesday to make a decision on rates,” he said.
“Although in keeping with the rest of the developed world’s central banks there is a reticence to cut rates on the back of what could be a transitory event.”
Rebecca Patterson, global currency strategist at JPMorgan Chase & Co. in New York, said that negative U.S. housing data triggered renewed selling on equity markets, which was in turn pressuring the loonie.
“Worries about U.S. housing and quite a few corporate headlines have made people nervous. That has gotten the risk aversion ball rolling and the Canadian dollar tends to underperform in that environment.”
The S&P/Case-Shiller U.S. National Home Price Index index fell 3.2 per cent to 183.89 last quarter from the same period in 2006, its sharpest decline since the index was created in 1987, S&P said in a statement.
Investors were also unwinding carry trades, a practice where investors borrow a currency at low interest rates and reinvest in higher-yielding currencies, which generally leads to further losses for the loonie.
“Over the next few weeks, I am a seller of the Canadian dollar because I think it is too early to say we are out of the woods with risk-aversion,” Ms. Patterson said. “If the Fed does not cut rates in September or if the liquidity injections are not kept at full blast, the risk is that the markets could get disappointed.”
In addition, the market is nervous about what companies could say about how the credit crunch and housing woes are affecting their business. “There is a lot of uncertainty in corporate headlines. This could keep investors nervous about getting back into these carry trades,” Ms. Patterson said.
Mr. Hall said there are other familiar market themes driving currency trading, notably subprime concerns and Tuesday morning’s release of the U.S. consumer confidence number for August.
The Conference Board reported that U.S. consumer confidence index fell to 105 in August from a revised 111.9 in July, the lowest level of since August, 2006, and the biggest drop since Hurricane Katrina hit the U.S. Gulf coast in September, 2005.
“Consumer attitudes have soured due to falling home prices, volatile equity markets and tightening credit practices,” said Sal Guatieri, a senior economist with BMO Nesbitt Burns Inc. “While the current level of confidence is by no means weak, further declines in the months ahead would greatly increase the downside risks to the economic outlook.”
Prime Minister Stephen Harper to Visit Australia and Participate in the APEC Leaders’ Summit
(Office of the Prime Minister)
Prime Minister Stephen Harper today announced that he will attend the 15th Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting, which will take place September 8 and 9, 2007, in Sydney, Australia.
APEC Leaders will work to address climate change and energy security, trade facilitation and investment liberalization, strengthen economic reform and technical cooperation, and promote a secure and favourable business environment. The Prime Minister will also participate in the APEC Business Summit where he will deliver remarks on energy, climate change and growth in the Asia-Pacific region.
Following the APEC meetings, Prime Minister Harper will then proceed with an official visit to Australia on September 10 and 11. He will meet with Australian Prime Minister John Howard in Canberra and will deliver an address to a joint session of the Australian Parliament.
International Trade Minister David Emerson and Foreign Affairs Minister Maxime Bernier will precede the Prime Minister in Sydney, where they will attend the APEC Ministerial Meeting September 5 and 6, 2007.
APEC, which has 21 members, is the most important forum for economic cooperation in the Asia-Pacific region. Its members account for 56% of world GDP, 41% of world population and 43% of world imports and 45% of world exports. It brings together four of Canada’s top five trading partners from both sides of the Pacific and works to facilitate trade and investment in the region.
Canada and Australia enjoy a strong and growing bilateral relationship and cooperate on a range of issues such as health, transportation, defence and security, counterterrorism, counter proliferation, climate change and energy.
Prime Minister Stephen Harper today announced that he will attend the 15th Asia-Pacific Economic Cooperation (APEC) Leaders’ Meeting, which will take place September 8 and 9, 2007, in Sydney, Australia.
APEC Leaders will work to address climate change and energy security, trade facilitation and investment liberalization, strengthen economic reform and technical cooperation, and promote a secure and favourable business environment. The Prime Minister will also participate in the APEC Business Summit where he will deliver remarks on energy, climate change and growth in the Asia-Pacific region.
Following the APEC meetings, Prime Minister Harper will then proceed with an official visit to Australia on September 10 and 11. He will meet with Australian Prime Minister John Howard in Canberra and will deliver an address to a joint session of the Australian Parliament.
International Trade Minister David Emerson and Foreign Affairs Minister Maxime Bernier will precede the Prime Minister in Sydney, where they will attend the APEC Ministerial Meeting September 5 and 6, 2007.
APEC, which has 21 members, is the most important forum for economic cooperation in the Asia-Pacific region. Its members account for 56% of world GDP, 41% of world population and 43% of world imports and 45% of world exports. It brings together four of Canada’s top five trading partners from both sides of the Pacific and works to facilitate trade and investment in the region.
Canada and Australia enjoy a strong and growing bilateral relationship and cooperate on a range of issues such as health, transportation, defence and security, counterterrorism, counter proliferation, climate change and energy.
August 28, 2007
Hi-Tech Exports See ‘Spectacular’ Rise
(China Daily)
China still has a long way to go toward its goal of becoming an “innovation-oriented economy” by 2020, and what it wants most is a better return on its fast-growing investments on research and development, the Organization for Economic Cooperation and Development (OECD) said in a report on Monday.
In its first review of China’s innovation system, which was prepared in collaboration with the Ministry of Science and Technology, the 30-member group of developed economies said China has enjoyed a spectacular rise in its hi-tech exports in recent years, but these exports mainly originate from foreign-owned enterprises.
The share of hi-tech in China’s total exports increased from 5 percent in the early 1990s to more than 30 percent in 2005, and these exports are heavily concentrated in office machinery, TV, radio and communication equipment. Being relatively weak are exports such as pharmaceuticals.
Products from foreign-owned companies account for 88 percent of the hi-tech exports. China’s hi-tech industries, notably manufacturing related to information and communication, are primarily under foreign control, the OECD said.
“To date, China has largely relied on the supply of foreign technology,” the report said.
But it also applauded the fact that China is boosting investment in science and technology and has taken steps toward building a high-performing “enterprise-based innovation system.”
China has ranked second in the world after the United States and ahead of Japan in number of researchers since 2000, and its R&D spending has increased at an annual rate of almost 19 percent since 1995 and was $30 billion in 2005, the sixth largest worldwide, the OECD said.
The country’s R&D/GDP ratio has more than doubled in a decade and was 1.43 percent in 2005 compared to only 0.6 percent in 1995.
“This is a spectacular achievement but does not mean that the innovation capabilities of the Chinese economy are already on a par with those of OECD members which have a similar R&D intensity of production,” the OECD said.
On the other hand, only 6 percent of the gross domestic expenditure on R&D is devoted to basic research, less than 20 percent goes to applied research, and more than 70 percent corresponds to experimental development. “The lack of basic and applied research implies that little research is likely to lead to patentable inventions,” it said.
The OECD forecast China could also face a shortage of skilled workers in science and technology in the future, despite currently having more researchers than any country except the United States.
The reason is that undergraduate degrees in science have fallen “even in absolute terms” in recent years, the report said.
On the report’s release, Li Xueyong, vice-minister of science and technology, said the report is “an example of China’s increasing international collaboration in the field of science.”
China still has a long way to go toward its goal of becoming an “innovation-oriented economy” by 2020, and what it wants most is a better return on its fast-growing investments on research and development, the Organization for Economic Cooperation and Development (OECD) said in a report on Monday.
In its first review of China’s innovation system, which was prepared in collaboration with the Ministry of Science and Technology, the 30-member group of developed economies said China has enjoyed a spectacular rise in its hi-tech exports in recent years, but these exports mainly originate from foreign-owned enterprises.
The share of hi-tech in China’s total exports increased from 5 percent in the early 1990s to more than 30 percent in 2005, and these exports are heavily concentrated in office machinery, TV, radio and communication equipment. Being relatively weak are exports such as pharmaceuticals.
Products from foreign-owned companies account for 88 percent of the hi-tech exports. China’s hi-tech industries, notably manufacturing related to information and communication, are primarily under foreign control, the OECD said.
“To date, China has largely relied on the supply of foreign technology,” the report said.
But it also applauded the fact that China is boosting investment in science and technology and has taken steps toward building a high-performing “enterprise-based innovation system.”
China has ranked second in the world after the United States and ahead of Japan in number of researchers since 2000, and its R&D spending has increased at an annual rate of almost 19 percent since 1995 and was $30 billion in 2005, the sixth largest worldwide, the OECD said.
The country’s R&D/GDP ratio has more than doubled in a decade and was 1.43 percent in 2005 compared to only 0.6 percent in 1995.
“This is a spectacular achievement but does not mean that the innovation capabilities of the Chinese economy are already on a par with those of OECD members which have a similar R&D intensity of production,” the OECD said.
On the other hand, only 6 percent of the gross domestic expenditure on R&D is devoted to basic research, less than 20 percent goes to applied research, and more than 70 percent corresponds to experimental development. “The lack of basic and applied research implies that little research is likely to lead to patentable inventions,” it said.
The OECD forecast China could also face a shortage of skilled workers in science and technology in the future, despite currently having more researchers than any country except the United States.
The reason is that undergraduate degrees in science have fallen “even in absolute terms” in recent years, the report said.
On the report’s release, Li Xueyong, vice-minister of science and technology, said the report is “an example of China’s increasing international collaboration in the field of science.”
August 27, 2007
ACE A1 Implementation is Postponed
(Department of Homeland Security)
Due to an ABI software limitation, the implementation of ACE A1, Enhanced Accounts and Master Data, is being postponed until September 2007. All related implementation procedures are being postponed.
ACS will remain the system of record for Importer, Bonds, and the various reference file data until ACE A1 deploys.
New deployment data will be communicated as soon as it is determined.
Due to an ABI software limitation, the implementation of ACE A1, Enhanced Accounts and Master Data, is being postponed until September 2007. All related implementation procedures are being postponed.
ACS will remain the system of record for Importer, Bonds, and the various reference file data until ACE A1 deploys.
New deployment data will be communicated as soon as it is determined.
August 26, 2007
Shippers Criticize Passport Rule
(The Journal of Commerce)
Trade and transport interests have renewed their opposition to a U.S. plan requiring passports for travelers entering the U.S. at land crossings with Canada and Mexico, saying it will increase costs and transborder traffic.
Exporters and importers are urging the Bush administration not to proceed with the Western Hemisphere Travel Initiative until Customs and Border Protection is fully ready to implement the program without causing border delays.
The Phoenix-based Border Trade Alliance in a blistering letter to Homeland Security Secretary Michael Chertoff said current traffic jams at crossings on both borders are undermining the economic security of all three countries.
The BTA said U.S. Customs officers for the past several weeks have been checking and manually entering drivers license information “for 60 percent of travelers entering the U.S. from Canada and Mexico, and the result is proving to be disastrous,” delaying commercial traffic….
…The Canadian Trucking Alliance, which represents truckers who carry more than two-thirds of goods traded between the United States and Canada, its largest trading partner, in a submission to Homeland Security and the State Department called for technology to be in place and field-tested before the passport program is launched. It also recommended delaying the program until passport backlogs have been cleared in the U.S. and Canada, and the concept of an enhanced driver’s license tested.
David Bradley, president of the CTA, said that the U.S. government “must take the time it needs to get this right, rather than holding itself to an arbitrary, self-imposed, deadline.”
Executives from leading corporations from the U.S., Canada and Mexico — including Wal-Mart Stores, The Home Depot, FedEx Corp., and major banks — met with President Bush, President Felipe Calderon of Mexico and Prime Minister Stephen Harper of Canada this week in Canada. With Chertoff also present, the executives, representing the North American Competitiveness Council, urged a rethinking of the new travel rules. They identified the requirement of a passport or other secure document as a border congestion problem and called on the U.S. to develop “an accessible and affordable alternative” to passports such as an enhanced driver’s license.
The passport rule is scheduled to begin by June, 2009, but the White House is targeting implementation by mid-2008.
Both the BTA and CTA said Homeland Security must clarify which documents will be acceptable, and when. They also urged the U.S. to leverage the best practices of security programs already in place, such as Free and Secure Trade or the Customs-Trade Partnership Against Terrorism, instead of creating a completely new program.
Trade and transport interests have renewed their opposition to a U.S. plan requiring passports for travelers entering the U.S. at land crossings with Canada and Mexico, saying it will increase costs and transborder traffic.
Exporters and importers are urging the Bush administration not to proceed with the Western Hemisphere Travel Initiative until Customs and Border Protection is fully ready to implement the program without causing border delays.
The Phoenix-based Border Trade Alliance in a blistering letter to Homeland Security Secretary Michael Chertoff said current traffic jams at crossings on both borders are undermining the economic security of all three countries.
The BTA said U.S. Customs officers for the past several weeks have been checking and manually entering drivers license information “for 60 percent of travelers entering the U.S. from Canada and Mexico, and the result is proving to be disastrous,” delaying commercial traffic….
…The Canadian Trucking Alliance, which represents truckers who carry more than two-thirds of goods traded between the United States and Canada, its largest trading partner, in a submission to Homeland Security and the State Department called for technology to be in place and field-tested before the passport program is launched. It also recommended delaying the program until passport backlogs have been cleared in the U.S. and Canada, and the concept of an enhanced driver’s license tested.
David Bradley, president of the CTA, said that the U.S. government “must take the time it needs to get this right, rather than holding itself to an arbitrary, self-imposed, deadline.”
Executives from leading corporations from the U.S., Canada and Mexico — including Wal-Mart Stores, The Home Depot, FedEx Corp., and major banks — met with President Bush, President Felipe Calderon of Mexico and Prime Minister Stephen Harper of Canada this week in Canada. With Chertoff also present, the executives, representing the North American Competitiveness Council, urged a rethinking of the new travel rules. They identified the requirement of a passport or other secure document as a border congestion problem and called on the U.S. to develop “an accessible and affordable alternative” to passports such as an enhanced driver’s license.
The passport rule is scheduled to begin by June, 2009, but the White House is targeting implementation by mid-2008.
Both the BTA and CTA said Homeland Security must clarify which documents will be acceptable, and when. They also urged the U.S. to leverage the best practices of security programs already in place, such as Free and Secure Trade or the Customs-Trade Partnership Against Terrorism, instead of creating a completely new program.
US Customs ACE Exchange VII October 15 – 17, 2007
(Department of Homeland Security)
U.S. Customs and Border Protection (CBP) is inviting the trade community to participate in an event where the audience can speak openly, learn about, and provide input on the Automated Commercial Environment (ACE), the trade processing system for the United States. Many companies have been utilizing ACE since 2002, and CBP encourages more companies to participate.
Learn how ACE has helped companies comply with a new regulatory mandate and how ACE has given thousands of importers, brokers, and truck carriers an advantage over their competitors.
New ACE functionality was just released that benefits Cartmen, Lightermen, Facility Operators, Foreign Trade Zone Operators, Sureties, Software Vendors, and Service Providers.
Many regulatory and technical changes that will impact the business of importing goods into the United States are underway. Learn about these changes and how to prepare for them by attending this free conference.
Functionality Available Now: -- National View of Company’s Transactions -- Paying Duties and Fees on a Monthly Statement -- Reporting Tool with Transactional, Financial and Compliance Data -- Mandatory Submission of Electronic Manifest for Trucks Creating 5106 Online -- Participation of other Government Agencies -- Ability for Brokers, Cartmen, Lightermen and Facility Operators to meet -- CBP Regulatory Requirements -- Highlights of Functionality to Come in the Longer Term
Event Location:
Marriott One Hartsfield Centre Parkway, Atlanta, Georgia 30354 Phone: 404-209-9999
Registration for this event is free, but required for each attendee. Please sign up early to attend and for a one-on-one appointment. Register today here.
U.S. Customs and Border Protection (CBP) is inviting the trade community to participate in an event where the audience can speak openly, learn about, and provide input on the Automated Commercial Environment (ACE), the trade processing system for the United States. Many companies have been utilizing ACE since 2002, and CBP encourages more companies to participate.
Learn how ACE has helped companies comply with a new regulatory mandate and how ACE has given thousands of importers, brokers, and truck carriers an advantage over their competitors.
New ACE functionality was just released that benefits Cartmen, Lightermen, Facility Operators, Foreign Trade Zone Operators, Sureties, Software Vendors, and Service Providers.
Many regulatory and technical changes that will impact the business of importing goods into the United States are underway. Learn about these changes and how to prepare for them by attending this free conference.
Functionality Available Now: -- National View of Company’s Transactions -- Paying Duties and Fees on a Monthly Statement -- Reporting Tool with Transactional, Financial and Compliance Data -- Mandatory Submission of Electronic Manifest for Trucks Creating 5106 Online -- Participation of other Government Agencies -- Ability for Brokers, Cartmen, Lightermen and Facility Operators to meet -- CBP Regulatory Requirements -- Highlights of Functionality to Come in the Longer Term
Event Location:
Marriott One Hartsfield Centre Parkway, Atlanta, Georgia 30354 Phone: 404-209-9999
Registration for this event is free, but required for each attendee. Please sign up early to attend and for a one-on-one appointment. Register today here.
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