Changes for businesses and individuals that import from China

For businesses and individuals that import from China, the recent changes in import costs have prompted changes in retail prices and purchasing practices.

Customs and Border Protection (CBP) has published these changes in Section 301 Action in 84 FR 43304, where additional tariffs are published for thousands of products from China. Until August 2019, the additional 25% tariffs were mostly for industrial products, however, as of September 2019, an additional 15% tariffs will apply to retail products including watches, shoes, cellphones, laptops and other electronics.

Tariffs on $250 billion of Chinese imports, about 70% of which are industrial goods and 30% consumer products, rose from 10% to 15% to 25% and now to 30% on October 1, 2019.

Tariffs on another $300 billion of Chinese imports, about 60% consumer products and 40% of which are industrial goods, will be taxed 15%. Some of these products will be affected September 1, 2019, others will go into effect December 15, 2019.

According to SOURCE UBS estimates, company reports, the share of merchandise imported from China at mayor US retailers range from approximately 10% to 45%, while the number is estimated to be about 80% for small retailers.

We work with a number of importers both large corporations, small business and individuals that import from China for resale, commercial use and personal use. These increases in tariffs have consequences on the ultimate import cost not only in tariffs but also in bond sufficiency.

It is important to take into consideration the import cost for any product that will be imported from China. We are constantly quoting import shipments to assist our importers before they commit to a purchase in China.

To request a quote for your shipment please fill out the form below, we look forward to hearing from you: