Tag: Trade Compliance
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Tariffs as a Supply Chain Risk Factor When tariff rates can change by 25 percentage points in weeks, tariffs become a dynamic risk factor demanding the same attention as any other supply chain threat. Tariff risk is driven by identifiable political and economic forces that can be anticipated and managed. Identifying Your Tariff Risk Exposures…
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The Most Important Name on the Customs Entry Every customs entry must identify an importer of record (IOR): the entity legally responsible for ensuring accuracy, paying duties, and meeting all regulatory requirements. Being the IOR is the assumption of significant legal and financial obligations. What the IOR Is Responsible For Accuracy of entry data, paying…
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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 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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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…
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The Scale and Complexity of Canada-U.S. Trade The Canada-United States trade relationship is the largest bilateral trade relationship in the world, with goods and services crossing the border valued at roughly two billion dollars every single day. Trade compliance consulting for cross-border operations requires an integrated understanding of how the two regulatory systems interact. CUSMA:…
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Why Customs Compliance Matters for Small Businesses If you run a small business that imports goods into the United States or Canada, customs compliance is not optional. The regulatory framework does not distinguish between a multinational corporation shipping ten thousand containers a year and a small business importing a single pallet. The same classification rules,…