Obama says he will cut red tape for exporters
02/19/2014 8:07 AM
02/19/2014 1:49 PM
President Barack Obama plans to sign an executive order that is designed to reduce the wait time for businesses exporting goods and services outside the U.S., according to the White House.
Obama, who heads to Toluca, Mexico for one day for the North American Leadership Summit, will sign what the executive order on Air Force One.
Businesses have to submit information to dozens of government agencies to move items across the border. The order will reduce the time from days to minutes, according to the White House.
Obama is calling for completing the International Trade Data System, which allows businesses to more easily transit electronic information as well as eliminate duplicative paperwork, by December 2016.
"Once fully implemented, the ITDS will dramatically reduce the time and expense for businesses to move the more than 50 million containers and $3.8 trillion worth of goods that cross our borders each year," according to the White House.
A newly expanded group, the Border Interagency Executive Council will be responsible for improving coordination among the dozens of agencies with import and export requirements and with outside groups.
It's one of a series of executive actions that Obama is administratering this year in what he calls a "year of action."
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