As a result of continued trade talks with China, President Trump announced that he will implement an additional 10% tariff on the remaining 300 billion dollars of goods being imported from China into the U.S. starting on Sept. 1, 2019.
He recently implemented of 10% tariff on $200 billion worth of Chinese goods, in addition to earlier tariffs imposed on $50 billion worth of Chinese imports. He feels the taxes are having a “major effect” on the US economy and that “Americans are not paying for the Tariffs.” However, anticipates that businesses will be incentivized to purchase items made in the U.S. in an effort to avoid tariffs. That can lead to an increase in U.S. manufactured goods. Fed Chair Jerome H. Powell said. “…trade tensions are having an effect on the U.S. economy.”
How to Reduce Tariffs with FTZ
Business owners can help off-set the effect of their tariffs by utilizingForeign Trade Zone. Tri-Link is a master navigator in the world of using FTZ’s to reduce costs. We have helped companies save millions from Foreign Trade Zones for the past thirty years. “There are many ways FTZs can lower costs. We are very creative in how we create FTZ subzones at our client’s locations to reduce costs in a number of different ways.” says Stu Spikerman, President of Tri-Link FTZ.
Tri-Link consults customers on the positive impact of the FTZ program. Because of the many benefits, companies and communities and becoming more interested in it. To discuss the possibilities, cost savings, and other benefits available Contact us.