TABLE OF CONTENTS Much of this book has been devoted to explaining new requirements of U.S. Customs and other government agencies pertaining to the importation of goods in the post 9/11 era. While these new requirements have been designed to protect the U.S. and its citizens, they undoubtedly introduce new cost elements into the import supply chain. This chapter is devoted to trade optimization programs that can help you deliver savings to your company's bottom line in the form of minimized tariffs. With the myriad post 9/11 requirements and their corresponding costs, an importing company will need to take advantage of every opportunity for savings if it is to remain competitive.
As discussed in Chapter 7, the country of origin of an imported product may have an impact on the duty rate of that product when you import it, as the U.S. has clearly shifted its trade policy over the course of recent years. Previously, the U.S. was content to promote trade through participation in the World Trade Organization (WTO). The WTO's progress is slow and deliberate due to the huge number of countries participating in negotiations to eliminate trade barriers. The U.S. tariffs are already among the lowest in the world, so in WTO negotiations, the U.S. may not have much to bring to the table compared to developing countries with average tariffs of 35 percent. Beginning with the Clinton administration and expanding into the Bush era, the U.S. set forth on a path towards eliminating barriers with its...
