JF Moran’s Executive Director, Betty Robson, breaks down the basics of tariffs and what businesses can expect.
Changes to the international trade landscape and import/export regulations are happening quickly, and staying up to date on the latest information is essential. Whether you are a business importing crucial manufacturing components or exporting products to foreign markets, recent and expected changes will likely impact your day-to-day operations and could significantly affect your landing costs. We encourage you to follow us on LinkedIn and subscribe to our monthly magazine, InsideTrax, to stay
How This Affects You
Cost Implications: Tariffs may significantly raise the total landed cost of your products, affecting margin and pricing models.
Supply Chain Shifts: You may need to reconsider where you source products or materials to avoid excessive tariffs.
Customs Complexity: Additional documentation, declarations, and compliance steps may be required for entry processing.
How JF Moran Can Help
Alternative Sourcing: Tap into our global network to explore alternative sourcing options in low- or no-tariff countries.
Compliance Support: JF Moran’s Customs Specialists can assist with classification reviews, eligibility for exclusions, and regulatory compliance.
Strategic Planning: We’ll work with you on proactive strategies to mitigate the current and future tariffs’ financial and operational impact.
Consultations: We’ll help you evaluate the impact of tariffs across your supply chain and identify risk areas.
Frequently Asked Questions (FAQ)
1. Do I need to act now?
Yes. Many of these tariffs are already in effect. If you import goods into the U.S., your costs and documentation requirements may have changed.
2. Can I change suppliers to avoid tariffs?
In many cases, yes. JF Moran can help you explore sourcing options in lower-tariff countries or regions.
3. Are there ways to recover or reduce tariffs?
Some mitigation strategies may be available, but certain tariffs—especially under IEEPA—do not allow duty refunds. Based on your products and trade lanes, we’ll help you determine what’s possible.
4. Will this affect my delivery times?
Possibly. While transportation timelines are stable, Customs clearance may take longer due to more complex entry requirements and reviews.
5. Will these tariffs change again?
Yes. This is an ongoing situation. Rates and rules are subject to change with little notice.
STAY UP TO DATE:
Follow us on LinkedIn for the latest tariff information and subscribe to our monthly LinkedIn Newsletter, AcrossTheTrax for in-depth analysis of current events in international trade.