There is a phase 1 trade deal! After reading the text of the deal and reviewing the Harmonized Tariff Schedule (HTS) there is now more clarity on what is and is not included and which items will have reduced tariff charges. Our understanding is that tariff reductions begin to take place in mid-February for items being reduced. Now is the time to contact us about existing quotes to see if any of the tariffs will be reduced on your items. It’s also the time to start quoting new items as uncertainty has been reduced and it’s probably time to reorder.
This on-going tariff war has impacted every component of the supply chain and it’s time to embrace the certainty of reduced tariffs and trade rules and continue with global sourcing. Throughout this trade war, we reviewed a number of different countries as options for customers and in many cases the best solution continues to be China, Vietnam or India. Please contact us to ask which countries we prefer for which products.
Michigan Global Trade, LLC and our associated companies partner with clients to provide both advice and a path forward for global sourcing, including recommending the best country, sourcing or making the product to your spec, factory review of facility, on-site quality checking and report sent to client for review and all logistics oversight. We are very good at what we do and treat each customer as a partner. Call or email anytime for additional information.
Till next time.