In lieu of our regular blog, we wanted to address for all our export and import shippers the means to verify quickly the impact that the recent export and import tariffs may have on your shipments to/from China and Europe.
This is a hot, on-going topic that is at its inception and yet it seems to already be creating havoc for many both inside and outside of the shipping community.
ETC International Freight System is heavily involved with shippers who import through the Amazon concept. Seasoned shippers are already feeling the waves of uncertainty due to the new Chinese and European tariffs imposed by the Trump Administration while new prospective importers are feeling discouraged to start their business when their final costs are so uncertain.
For shippers importing, you may want to consult with your customhouse broker and give them the commodity name with the harmonized system number connected to it and driving your duty rate. Conversely, you can locate your rate that is specific to your product by clicking here. You can then discuss your finding with your broker to double check that you are judiciously using the correct HS code.
For our shippers exporting to Europe and selling on a DDP basis (delivery duty paid), click here to find your code / schedule B and the associated duty rate from your forwarders or their overseas agents.
For our shippers exporting to China, you can access Chinese import tariffs. For your convenience, here is the list of 128 commodities that will face tariffs upon import into China and in retaliation for our increased duty rates on some of China’ s goods.
With the war on tariffs now involving the USA, Canada, Mexico, China, Japan, South Korea, among other Asian countries, Europe is ready to counter. The dollar is $ 0.14 / cents below the Euro, which gives US manufacturers and trading companies a leg-up. However, they may be soon compromised with tariffs increases on us from those countries.
This is just the tip of the iceberg, the situation continues to change on a day-to-day basis. Already, Harley-Davidson is looking to shift manufacturing from the US to Europe which would allow them to by-pass the incapacitating tariff increases. Such a shift would result in the loss of thousands or American jobs.
Many business leaders and folks with common sense worry about the repercussions to our US economy and affected livelihood of Americans (not the 1%). If this makes you sick, you may not afford your health care either, so, join the resistance to change the current wave of obstructionism.
If you speak with your forwarders and customhouse broker, get your quotes early. We highly recommend that all of our shipping clients to do their research and gather as much information as possible surrounding your freight and how you may be impacted by the war on tariffs.
Join us for a webinar covering this exact topic in August!