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Economy

In reply to the discussion: How do export duties work? [View all]

JustAnotherGen

(34,286 posts)
6. Trade Compliance Officer here
Fri Jan 31, 2025, 09:03 PM
Jan 31

Not export duties. . . imports.

Duty/Tariff are interchangeable. There are,approximately 20K Harmonized Tariff Schedule codes.

Based on the item you are purchasing - and its country of origin that table is used to determine what the Importer of Record pays.

This is entered into CBP's Automated Customs Entry system by a licensed Customs Broker. In my company's case, our Brokerage pays the tariff and merchandise/port fees on our behalf, and then we remit to them. But - it is entered in the system under our EIN.

So one item might be a plastic component for assembly into a finished good. There's a 3.9% tariff on that.

The Felon is proposing another 10% if the item's Country of Origin is China. So that jumps to 13.9%.

State of Emergency. The Felon floated an External Revenue Service
for collection of these new tariffs.


That's not where Tariffs are collected. So WHO will us manufacturers be paying that money to?

Why the Felon of course.

I wish that fucker would die already.

Recommendations

1 members have recommended this reply (displayed in chronological order):

How do export duties work? [View all] Buzz cook Jan 31 OP
US companies Cirsium Jan 31 #1
Thanks. Buzz cook Jan 31 #3
The importer pays the tariff. This additional cost is, of course, ultimately passed on to the LoisB Jan 31 #2
Yes you're right. Buzz cook Jan 31 #4
Oil is a complex equation GreatGazoo Jan 31 #5
Rail JustAnotherGen Jan 31 #8
If Canada prices itself out Buzz cook Jan 31 #10
Trade Compliance Officer here JustAnotherGen Jan 31 #6
Thank you very much. Buzz cook Jan 31 #9
A very small manufacturer JustAnotherGen Jan 31 #7
They are exploring the end of de minimis GreatGazoo Feb 1 #11
I know JustAnotherGen Feb 1 #12
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