Navigating Growth in the Face of Uncertainty

Operating a manufacturing company in the midst of a trade war is tough. In a recent article for Industry Week, authors Jeff Jorge and Brian Simpson offer some tips for continuing to pursue manufacturing growth despite economic uncertainty. They recommend the following:

1. Pursue supply chain partners in countries not involved in the trade war.
2. Search for areas where you can take advantage of tariff shifts.
3. Review your HTS code assignments to see if anything could be reclassified into a lower-tariff category—be sure that your chief goal, though, is to remain fully compliant.
4.  Apply for duty drawbacks.
5. Review your options as far as tariff exclusions—see if you’ve become eligible for any that you didn’t consider before.

For more details, read the article in full at IndustryWeek.