Major penalties highlight compliance risks. Read more...| Export Solutions, Inc.
One of the most critical components of this process is the proper classification of goods under the Harmonized Tariff Schedule (HTS).| Export Solutions, Inc.
With the recent imposition of additional 25% tariffs on imports from Canada and Mexico, many companies are seeking ways to alleviate the financial burden of these extra duties. Some traditional duty-saving methods, such as duty drawback, are no longer viable due to these new tariffs. As a result, companies are exploring alternative strategies to maintain... The post How Chapter 98 Can Help Mitigate Additional Costs appeared first on Export Solutions, Inc..| Export Solutions, Inc.
As the global trade landscape continues to evolve, U.S. trade policies remain a central focus, particularly in relation to steel and aluminum imports. On March 12, 2025, President Donald Trump’s administration is set to implement significant expansions to the Section 232 tariffs on steel and aluminum—an action that promises to further shape the future of... The post What to Expect with the Section 232 Tariff Expansions appeared first on Export Solutions, Inc..| Export Solutions, Inc.
Tariffs, a tax on imports, have historically been used to support domestic industries and are primarily imposed for two reasons: to protect domestic industries by raising the cost of imported goods, and/or to generate revenue for the government. However, they can often also result in reduced trade, higher prices, and retaliation. What is a tariff?... The post The Impact of Tariffs: Who Benefits and Who Bears the Cost? appeared first on Export Solutions, Inc..| Export Solutions, Inc.
With the new administration , are there going to be tariff increases on day 1? Can Trump increase tariffs without Congress's approval?| Export Solutions, Inc.