What's Happening?
Since August 29, 2025, nearly all shipments entering the United States are subject to duties and taxes based on the Harmonized Tariff Schedule (HTS) code. These duties are calculated based on product type,
country of origin, and shipping value. Special trade surcharges, such as baseline tariffs and reciprocal tariffs, may apply, along with excise taxes on regulated goods like alcohol and tobacco.
Why It's Important?
The imposition of comprehensive duties and taxes on imports affects pricing and competitiveness of foreign goods in the U.S. market. Businesses must understand these regulations to manage costs and ensure compliance. The revenue from these duties supports government initiatives, highlighting their role in economic policy.
What's Next?
Businesses should stay updated on changes in duty rates and explore strategies to mitigate costs, such as leveraging trade agreements and exemptions. Monitoring policy shifts is crucial for effective import management.
