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:
- Pursue supply chain partners in countries not involved in the trade war.
- Search for areas where you can take advantage of tariff shifts.
- 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.
- Apply for duty drawbacks.
- 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.