Chinese tariffs are set to increase Oct. 15 on $250 billion worth of Chinese goods. Although some products have recently become exempt from the 25 percent increase, the act was more about providing relief to some U.S. companies that may have suffered from Trump’s tariffs since they can’t find a supplier outside of China. President Trump is set to resume negotiations with China in October.
In the meantime, many companies are utilizing Foreign Trade Zones to reduce their cost of tariffs. Tri-Link has helped companies save millions by utilizing Foreign Trade Zones for the past thirty years. Tri-Link operates in three major markets: California, New York, and Florida. As a means of mitigating these tariffs, Foreign Trade Zones are secured areas held under U.S. Customs and Border Protection (CBP) supervision around U.S. ports of entry allowing both foreign and domestic merchandise to be stored, manipulated, combined, temporarily removed, or even manufactured as if it were outside the commerce of the United States, internationally known as free trade zones.
Our Consulting Services include solving international trade problems, overcoming barriers to trade, educating the international trade community regarding Foreign Trade Zones and expediting international cargo through the U.S. ports of entry for importation and exportation. With an international trade consultant and corporate Custom House Broker on your team, Tri-Link is able to provide a unique blend of international trade-related services to importers, exporters, manufacturers, distributors, public utilities, and local government, focusing on Customs & Border Protection issues and the use of Foreign-Trade Zones. Contact us today to get started.
Published on September 27, 2019