The casualties of the current trade war continue to pile up, and now the EU is joining in. Today they announced the consideration of hitting the United States with a tariff on $4 billion worth of US exports, clearly showing they will use the same tactics that the White House has been using. With only one EU member opposing this proposition, it seems likely the tariffs will move forward. What’s different here is the organization is citing a 22-year-old World Trade Organization dispute as part of the reason for these new tariffs, despite a mutually acceptable resolution reached back in 2006. The US is ready to impose additional tariffs on EU exports, claiming illegal aid was given to airplane manufacturer Airbus SE.
Smart import/export business owners are getting ahead of these tariffs by utilizing Foreign Trade Zones as a way to store goods indefinitely and help lower or delay tariff costs.
If you can read between the lines, it’s very easy to see that no industry is safe from the fallout of these decisions being made by elected officials who are supposed to be looking out for the worker and business owner, specifically, here in America. Not only is no industry safe, but government entities will reach deep into the past to cite reasons for these new burdens to be slapped onto businesses. There are rules in place that The World Trade Organization has implemented, aimed to prevent this tit-for-tat escalation of retaliatory tariffs, but it seems even those are falling to the wayside, as calmer minds fail to prevail.
As an American business owner that imports and exports goods, this should be deeply concerning to you, and if you are not taking advantage of tactics to help lower these tariffs or delay them, then you are losing your competitive edge, leaving money on the table, losing clients and shedding profits. Smart import/export business owners are getting ahead of these tariffs by utilizing Foreign Trade Zones as a way to store goods indefinitely and help lower or delay tariff costs.
By implementing Foreign Trade Zones that Tri-Link controls into your operation, you are positioning your goods near ports of entry all across the US and putting yourself back in the driver seat when it comes to these tariffs. Consulting with Tri-Link to see how your business can benefit in these precarious times is a decision that should not be difficult to make. Contact Tri-Link today, weigh your options and begin taking back control of your business through Foreign Trade Zones.