If you ’re a U.S. company importing from China , you may have tenner of thousands or even meg in tariff refunds waiting for you . With two - thirds of Chinese origination good capable to Section 301 tariff , companies declamatory and small have been impacted since they were go through in 2018 amid a U.S.-China trade war . presently , 301 tariffs are extremely wide , cover industries from food and beverage , industrial supplying , transport equipment , consumption goods , and fuels and lubricants , to name a few . And now is your luck to get a repayment on some of those redundant duty payments via 301 exclusions before a vast absolute majority of them expire on Dec. 31 . These exclusions proffer just the variety of cost - nest egg so many company are search for as we front a fickle economy and pandemic .
By Mike Short at theC.H. Robinson blog
Taking advantage of duty recoveryIf you ’re not conversant , the Office of the United States Trade Representative ( USTR ) follow through the exclusion process for 301 tariffs when they were first ordain in 2018 . This chance provided businesses the chance to request an exclusion and/or submit for duty recovery on exclusions that were already usable .
look across our own customers , we identify a potential duty recuperation repayment of roughly $ 980 million . However , we find the timeliness and complexities of navigating the amount of exclusions can be overwhelming for small and large companies alike . And we get it , without the right information , technology and expertise the process to compare your HTS codes against hundreds of exclusions can take hour , and that ’s without turn over that over 96 % are product - specific which require an even deeper spirit level of analysis . With C.H. Robinson ’s technology ramp up by and for supply chains and global suite of overhaul , we ’re able-bodied to fall the amount of clock time ask in the complex and protracted refund recuperation process . Through our global trade expert and undivided , multimodal , global engineering platform Navisphere , we apply information comparison and analysis shaft to quickly unwrap your refund potency .
We have already help oneself hundreds of party take advantage of the refund for which they characterise . One of the companies we serve was Wheel Pros , a large wheel design and statistical distribution ship’s company , in submit for a square refund . Keep in mind , enceinte refunds are not only for big company , our global patronage experts have helped multiple little and mid - sized businesses uncover and submit for large repayment .
Keeping up with world-wide trade changesWhile the majority of current elision are set to buy the farm on Dec. 31 , we ’ve been around long enough to know the only constant in spheric trade is switch . So , we also create a Trade & Tariffs Insights webpage to help you keep up with it . It ’s like having your very own global trade concierge service with hebdomadal update on the changing world-wide craft marketplace along with customs duty insights and commentary from our leading spheric trade experts to help you make signified of it all . Trade and Tariff insight cover topics like tariffs , exclusions and any other trade or deference issues you need to recognise about . That agency , you’re able to focus on operating your business sector .
To check more , confabulate Trade & Tariffs Insights . you could also reach out to one of our swop expert to explore your refund potential for 301 tariffs before time scarper out .
Source : www.chrobinson.com
