What should foreign traders whose goods have already been listed on the list, recently shipped to the US, or who want to open up the US market should do it now?
— 01 —
Strictly prevent US buyers from abandoning goods and delaying payment
Friends who have been stuck in the product and have a recent shipping plan need to contact the buyer to inform the current situation, discuss the countermeasures together, and then deliver the goods after the agreement. It is best to receive the full payment before shipment. Custom products are especially noticeable!
How to check if the product is on the list? The point to remind everyone here is:
The HTS CODE in the form is the code of the US Customs. It is not exactly the same as the customs code of the Chinese exporter. Please check the top 6 and confirm whether the product is included in the list according to the product description. Please confirm the specific product with the US guests US HTS CODE security.
The self-examination method is:
US official website: http://www.usitc.gov/tata/hts/bychapter/index.htm
In the search box under Search for current Harmonized Tariff Schedule... under the Tariff Assistance item, enter the first six digits of the Chinese HS CODE, such as the desk lamp 940520****, and the left border of the search results page has the detailed HTS CODE. Choose HTS CODE according to your product.
Friends in the US market, please be sure to do your own self-examination and inform your customers! In order to avoid unnecessary losses and troubles when problems occur!
— 02 —
Identify who pays the tariff
At present, the trade terms we use are all borne by the buyer, but there are also many American guests who do DDP, when the tariff is borne by the seller. In the case of sudden tax increases, the seller remembers to add extra tariffs even if the offer is adjusted!
It is recommended to communicate with the freight forwarders. Sometimes the freight forwarding response is much faster than the buyers and sellers.
Who should pays the specific tariff can be seen in the following table:
— 03 —
Pay close attention to exchange rate fluctuations
Last week's exchange rate seemed to be a roller coaster ride, and the ups and downs were quite exciting. The situation of subsequent negotiations is unclear, and it is also necessary to guard against the risk of exchange rate fluctuations.
Fluctuations in the RMB exchange rate on the shore for two weeks
Offshore RMB exchange rate fluctuations in two weeks
What you can do is:
① Check the exchange rate changes on the day before and after going to work every day;
② Shorten the validity period of the quote.
③ At present, foreign traders reflect the initiative to propose the use of RMB to pay for the buyer group, mainly from Russia, Iran, Egypt, Algeria, Venezuela and other countries with less foreign exchange or US sanctions, as well as Malaysia, Vietnam, India, Pakistan. In Japan, Japan and other countries around ASEAN or Asia, more and more European customers are willing to use the RMB as the payment currency. So please ask the customer if they can settle in RMB. Cross-border RMB is equal to the foreign exchange rate of 1 and can be refunded normally.
— 04 —
Don't be stuck in the same place
According to the latest foreign trade data, the EU was China's largest trading partner in the first four months. China exported 894.76 billion yuan to the EU, an increase of 14.2%. ASEAN is China's second largest trading partner. China exported 714.35 billion yuan to ASEAN, an increase of 13.4%. The United States is China’s third largest trading partner. China exported 833.04 billion yuan to the United States, a decrease of 4.8%.
In this year's Spring Fair, among the buyers who came to the conference, the buyers from the countries and regions along the “Belt and Road” had more than 88,000 people, accounting for 45% of the total number of visitors. New buyers from countries and regions along the “Belt and Road” accounted for 52.68% of the total number of new buyers, up nearly 1% year-on-year. This means that more than 50% of the 40% of new buyers come from the “Belt and Road”.
Looking further, ASEAN buyers increased by 4.79% year-on-year, with Thailand, Malaysia, Vietnam, Singapore and Cambodia all growing significantly, with growth rates of 10.75%, 9.08%, 23.71%, 4.4% and 8.83%, respectively.
We should not be stuck in the same place and the eggs should not be placed in a basket. The world is so big that the market is not only the United States.
Of course, remember to buy CITIC Insurance if necessary!