Big changes in the U.S. export control regime have been in progress for a while now. In 2010, President Barack Obama announced that his administration would embark on an overhaul of the current system with the aim of focusing on national security, while also helping to facilitate commerce. At the same time, U.S. companies continue to work around growing requirements and sanctions leveled against individuals and nations by regulators in Washington, D.C. In light of these ongoing changes, audit, tax and advisory services firm KPMG recently held a webcast, “Trade and Customs Services: Global Export Control Developments Amidst U.S. Export Reform,” that provided updates and advice for companies having to deal with shifting U.S. export standards.
Todd Willis, director of the munitions control division of the U.S. Department of Commerce’s Bureau of Industry and Security and one of the presenters in the webcast, explained that export control reform, discussed for decades, but never implemented, is finally becoming a reality.
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