The decision by the U.S. and the European Union to recognize each other’s trusted shippers is expected to save those companies money through speedier customs authorization.
The trade pact will allow U.S. and EU customs agencies to focus their attention on less trusted shippers, according to the European Commission. The trade pact between the U.S. and EU, which traded roughly $656.2 billion in 2011, takes effect July 1.
There are more than 10,000 importers, brokers and carriers involved in the U.S. Customs-Trade Partnership Against Terrorism, a voluntary supply chain security program that usually results in less cargo inspection for shipper members.