Benjamin Franklin once said that no nation was ever ruined by trade. While that may be true, those of us in the private sector have seen our kind ruined by failures in trade law compliance far too often. Let’s be honest: U.S. trade laws are a little more complicated than in Franklin’s day, and while the U.S. government is making efforts to simplify them, there is still a lot of ambiguity and complexity left to navigate.
As a lawyer with a dedicated international practice, I see a lot of companies struggle with trade law compliance. That is not their fault. The web of U.S. laws that regulate trade and overseas business is about as clear as mud. “EAR”, “ITAR”, “OFAC”, “FCPA” – the alphabet soup of acronyms alone can keep you up at night! And for those companies which had a familiarity with these laws in the past (I’m speaking to all three of you), the current export control reform process is completely changing the legal landscape. Add to that the volatility and unpredictability of international politics and it becomes clear that these laws also blow in the winds of U.S. foreign policy.
But this blog is not about wallowing in the gloom and doom of trade law compliance. Au contraire! Let’s revel in the ambiguities, the inconsistencies and the plain old “huh?” that comes with the territory. Are we masochists? Maybe. Are we problem solvers? You bet. What drives us? A curiosity about how international events impact the laws that regulate U.S. business overseas.
Most U.S. companies struggle with the same challenges and have the same questions about trade compliance and their overseas operations. This blog seeks to shed light on those questions, to provide a forum for discussion, and to remind all of us that there is a community out there for support and assistance. To that end, I ask you (yes, YOU!) to be an active participant in this process. I welcome your questions, comments and anecdotes, especially when they contradict or add a new spin on one of our posts. After all, what lawyer doesn’t love a good argument?!
So let’s finish this first post where we started, with Benjamin Franklin. Mr. Franklin famously quipped: “By failing to prepare, you are preparing to fail.” Truer words were never spoken. The most dangerous thing a company can do is bury its head in the sand and hope a compliance misstep blows over. I hope this blog gives you the tools and confidence to avoid that approach and to tackle trade compliance challenges head-on.
