Acronyms, spelled out

APECAsia-Pacific Economic Cooperation

Forum of 21 Pacific Rim economies that sets non-binding trade and investment goals.

ASEANAssociation of Southeast Asian Nations

Ten Southeast Asian states cooperating on trade, economy and security.

CBPU.S. Customs and Border Protection

The US agency that clears goods entering the United States and collects duties.

DDPDelivered Duty Paid

The seller pays duties and taxes upfront: the customer pays nothing at delivery.

DDUDelivered Duty Unpaid

Duties and taxes are collected from the customer at delivery, often with a handling charge.

EUEuropean Union

27 countries with a single market and a customs union.

IOSSImport One-Stop Shop

EU scheme letting sellers collect import VAT at checkout on consignments up to €150 and declare it monthly in one country.

IPCInternational Post Corporation

Cooperative association of postal operators that publishes cross-border e-commerce research.

SKUStock Keeping Unit

A unique reference for one product variant, used to track stock and price.

UPUUniversal Postal Union

UN agency that sets the rules for international mail exchanges between postal operators.

USMCAUnited States–Mexico–Canada Agreement

The North American free trade agreement that replaced NAFTA in 2020.

VATValue Added Tax

Consumption tax charged at each stage of the supply chain and paid in the end by the consumer.

WCOWorld Customs Organization

Intergovernmental body that maintains the Harmonized System used to classify goods.

WTOWorld Trade Organization

Global body that sets and arbitrates the rules of trade between nations.