Tariff Classification Cuts Costs for Businesses

Tariff Classification Cuts Costs for Businesses

Regular reviews of the Harmonized Tariff Schedule (HTS) can lead to significant cost savings for manufacturers. Experts indicate that simple tariff reclassification strategies can effectively reduce corporate tariff expenditures, enhance market competitiveness, and help businesses respond flexibly to the volatile trade environment.

Maritime Shipping Risks Demand Robust Safety Measures

Maritime Shipping Risks Demand Robust Safety Measures

Maritime cargo transportation faces various risks, including natural disasters and accidents. Natural threats like severe weather, lightning, tsunamis, earthquakes, floods, and volcanic eruptions are unpredictable. Accidents such as grounding, collisions, fires, and crew negligence can also lead to cargo loss. Therefore, understanding these risks and obtaining appropriate insurance is crucial.

US Tariff Changes Strain Transport Sector Ahead of August 1

US Tariff Changes Strain Transport Sector Ahead of August 1

The U.S. will implement import tariffs on August 1, facing urgent challenges and uncertainties in the transportation sector. Despite strong economic growth data, anxiety over policy changes complicates future impact assessments. The tariffs may lead to reduced consumer spending and increased unemployment rates. Core inflation is expected to rise to 3.6% by 2025.