Don't fall for the two-invoice trap.
On today's news episode, we've invited Molly Sitkowski to break down the complex US-China trade landscape, offering critical insights for businesses navigating the treacherous waters of international import regulations.
Key Discussion Points:
- US-China 90-Day Trade Deal Breakdown
- Tariff Calculation Complexities (Spoiler: It's more than just percentages)
- Substantial Transformation Test Explained
- Avoiding Costly Compliance Mistakes
Connect with Mollie Sitkowski:
LinkedIn: https://www.linkedin.com/in/molliesitkowski/
Website: https://www.faegredrinker.com/en/services/services?
Critical Takeaways:
1. Tariff Landscape:
- Current tariff rates potentially reaching 55-70% on Chinese imports
- Predicted future rates around 20-34%
- Potential long-term impact on manufacturing and supply chains
2. Compliance Red Flags:
- Beware of two-invoice strategies
- Understand substantial transformation rules
- Verify supplier origin declarations
Expert Quotes:
"Customs can basically use whatever they want to determine origin" - Molly Sitkowski
Actionable Strategies:
- Check USMCA exemptions
- Communicate transparently with suppliers
- Understand complex tariff classification rules
Value Proposition:
This episode is an essential listen for:
- Small business owners
- Import/export professionals
- Supply chain managers
- Trade compliance specialists
In the midst of all this chaos, education is your best ally. Access Exclusive Resources Here ⏬
Recommended Resources:
Check out these courses we offer here at GTC! 👀🌎
📩Importing https://globaltrainingcenter.com/importing-procedures/
😵💫Tariff Classification https://globaltrainingcenter.com/tariff-classification/
🗺️Country of Origin https://globaltrainingcenter.com/country-of-origin/
👓🧠Surround yourself with other trade professionals: Join our Trade Geeks Community! https://globaltrainingcenter.com/trade-geeks/
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Connect with Simply Trade Podcast:
- Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g
- LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/
- Twitter: https://twitter.com/SimplyTradePod
- Website: https://globaltrainingcenter.com/simply-trade-podcast/
Contact Us/ Suggest Topics
Contact: SimplyTrade@GlobalTrainingCenter.com
Credits:
Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/
Co-Producer/Editor: Mara Marquez: https://www.linkedin.com/in/maramarquez85/
Host: Annik Sobing - https://www.linkedin.com/in/annik-sobing-mba-b226251a2/