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MEDC | International Trade: October Newsletter

October 2, 2020

Michigan Business Network

STEP Changes That You’ll Love

The Michigan State Trade Expansion Program (MI-STEP) helps eligible businesses increase their reach in international markets by providing financial assistance to offset the cost of export-related activities. On September 22, changes to the program were approved by the Michigan Strategic Fund (MSF) that will open additional access to financial assistance, facilitating more opportunities for international business development.

Changes to MI-STEP include:

An increase in the maximum grant reimbursement from 50 percent of eligible activities to 75 percent, maintaining the annual cap of $15,000 per company.
Additional eligible activities allowed under the program, including e-commerce and compliance testing, as well as an increased annual cap of $10,000 on website expenses.
The launch of MEDC’s new Project Portal, with simpler and more user-friendly STEP application and reimbursement processes.

MEDC’s MI Project Exception Program (MI-PEP), which provides export assistance to companies that do not meet SBA’s small business requirements, also received MSF approval of additional eligible activities and an increase in the maximum grant reimbursement amount from 50 percent to 75 percent.

EXIM Extends COVID-19 Temporary Relief Measures

The Export-Import Bank of the United States (EXIM) has extended through October 31, 2020, relief measures for U.S. exporters and financial institutions impacted by the COVID-19 pandemic. The relief measures include waivers, deadline extensions, streamlined processing and flexibility. More resources regarding EXIM’s COVID-19 response and relief measures are available online.

Best Practices for Virtual Trade Missions & Meetings

Attorney Jean Schtokal from Foster Swift Collins & Smith sits down with Automation Alley’s Noel Nevshehir to discuss the impact of COVID-19 on trade missions and conferences. Learn how to effectively communicate with companies and business executives using video conferencing tools as an alternative to in-person meetings.

WATCH THE INTERVIEW

Partner Events

Trademark Infringement: Criminal Investigations
and Prosecutions

October 6, 2020

The U.S. Small Business Administration’s STOPfakes Roadshow has gone virtual. Join Intellectual Property Rights experts to learn more about criminal trademark infringement through case studies. The webinar will cover relevant statutes, investigatory techniques, best practices, and sentencing issues, including forfeiture and restitution, all through the lens of actual cases.

Basics of USMCA Virtual Training

October 13-15, 2020

It’s critical for businesses to understand the changes that come with the new USMCA, which entered into force on July 1, 2020. Many of the rules for how goods qualify for preferential duty treatment have changed. New sector-specific rules, which apply to the automotive industry, have been changed to enact more stringent country of origin parameters. Certifications of origin take on a new look and record keeping must be verified to remain compliant. Attendees will learn USMCA’s many updated provisions and clauses, and gain a clear understanding of the rules, regulations and best practices to put into place for the future.

US-China Business Council: International Business
and Trade Relationship

October 20, 2020

Sponsored by the MSU International Business Center, the Lansing Economic Club will feature Craig Allen, president, US-China Business Council. Allen will discuss the future of the relationship between the U.S. and China, how the largest U.S. firms are working in China to build strategies to move forward and the effects of “decoupling” the two economies.