Tag: Peacock Tariff Consulting
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Moving from Reaction to Anticipation A tariff impact assessment is a structured analytical exercise that quantifies your current tariff exposure, models the impact of potential changes, and identifies strategic options for mitigation. Think of it as a stress test for your supply chain’s tariff resilience. What a Tariff Impact Assessment Involves Current state analysis quantifies…
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The Section 301 Tariff Impact Section 301 tariffs of 7.5 to 25 percent on hundreds of billions of dollars’ worth of Chinese-origin goods have forced businesses to rethink pricing, sourcing, supply chain design, and competitive strategy. Understanding the Exclusion Process Exclusion requests are administered by USTR. Each request must describe the product, explain availability from…
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Two Essential Roles, Often Confused A customs broker and a trade consultant serve complementary but fundamentally different functions. Confusing them is one of the most common and costly misunderstandings in international trade. What a Customs Broker Does A broker’s primary function is transactional: filing customs entries, declaring value and classification, arranging duty payments, and handling…
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The Small Business Disadvantage in International Trade While barriers to importing have fallen, regulatory complexity has not. A small business faces the same tariff classification requirements, valuation rules, and penalty provisions as a Fortune 500 company. A trade advisory firm bridges that gap. What a Trade Advisory Firm Does Tariff classification, duty optimization, compliance program…
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The Case for Auditing Your Own Import Program A voluntary compliance audit identifies errors before the government does, giving you the opportunity to correct them through voluntary disclosure, which dramatically reduces penalty exposure. It also identifies overpayments that can be recovered through refund claims. What a Compliance Audit Covers Classification accuracy, valuation practices, country of…
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The Most Underutilized Refund Program in U.S. Trade Duty drawback dates back to 1789. The concept: when duties are paid on imported goods that are subsequently exported, the government refunds up to 99 percent. Industry estimates suggest only a small fraction of eligible duties are actually recovered, leaving billions unclaimed. Types of Duty Drawback Manufacturing…
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Why Classification Is the Most Important Decision in Your Import Program Every imported product needs an HTS code. That code determines duty rate, eligibility for preferential treatment, whether it is subject to quotas or trade remedy duties, and whether specific agency requirements apply. Get it right, and compliance falls into place. Get it wrong, and…
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The Intersection of Product Design and Trade Policy What if modest changes to your product’s design, materials, or condition at importation could move it into a different tariff classification with a materially lower duty rate? Tariff engineering is the deliberate, legal practice of designing products with their tariff classification in mind. How Tariff Engineering Works…
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Every Dollar of Duty Is a Dollar Off Your Margin There is often a significant gap between what importers actually pay and what they are required to pay. That gap exists because the tariff code is complex, multiple duty reduction mechanisms are available but underutilized, and most importers lack the specialized knowledge needed to optimize…
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Tariffs Are Back at Center Stage The United States has imposed new tariffs under multiple authorities, including Section 301 tariffs on Chinese goods, Section 232 tariffs on steel and aluminum, IEEPA-based duties, and reciprocal tariff measures. Products that once entered duty-free now carry tariff burdens of 10, 25, or even 50 percent or more. How…