Although there are likely to be more twists and turns in the ongoing tariff wars, businesses are currently being impacted and are concerned about possible outcomes.
The Logistics Consultants specialise in assisting businesses with matters relating to their supply chains. Having assisted hundreds of clients preparing for Brexit, our consultants are adept at advising companies through uncertainty such as that fuelled by current US trade policy.
Irrespective of the level of tariffs or whatever any possible trade deal with the US might mean for their sector, businesses should be evaluating their own unique position so they can make the right decisions for themselves and for their supply chain partners. So, our consultants have developed an approach that involves assessing the ‘as is’ situation for our clients as well as reviewing other possible scenarios based on solid assumptions. The following are some of the key elements of the approach we will use to assist your business:
Our consultants will obtain a full and detailed understanding of your supply chain, including the country of origin of imports, and assess how the announced measures will impact on purchases and sales.
We can determine the appropriate goods classification and origin to establish whether goods will be impacted, and we have the expertise to review HS codes to provide an accurate assessment of the tariffs applicable to each SKU.
As was the case with Brexit preparations, we will quantify duty impact under various scenarios, including whether the US unilaterally raises tariffs, whether the EU or others retaliate, or whether trade deals are agreed; and we can advise on strategies including stockpiling, supplier shift, “origin” shift, classification shift, etc.
Businesses should be aware that the tariff dispute could also impact on supply chains beyond EU/US trade or UK/US. As the US applies new tariff measures on goods imported into the US from other countries around the globe, producers in those countries will look to new markets to supply their goods leading to the risk of EU countermeasures against flooding of EU market impacting on imports, with reciprocal measures applied by affected territories impacting exports.
Businesses should also monitor how their direct competitors might be impacted in relative terms should different tariff rates apply for imports to the US from the EU versus rates applied by the US on the UK or on countries in the Far East.
Our consultants can advise you on various measures such as using Customs Warehousing, Inward Processing, etc., to remove/reduce duties.
The announcement of US tariffs led to huge demand for shipping capacity with many businesses seeking to frontload orders and/or to stockpile goods in the US. This, together with the volatility in tariff policies – particularly the imposition of exceptional tariffs on China by the US, and China’s retaliatory tariffs – has led to volatility in rates charged for moving product around the globe and on the available capacity on certain shipping lanes. So, our advisors can assist you with reviewing logistics options for your business.
Supports Available for Businesses
If you wish to discuss any of the above, or if you wish to discuss your own particular requirements, please contact us on info@thelogisticsconsultants.com. We are happy to offer an introductory meeting at no cost to you, and we will also advise you on the funding supports available from various agencies for consultancy services.
Businesses in the Republic of Ireland can obtain funding from Enterprise Ireland to cover the cost of using our consultants to advise you on matters relating to Trade and Tariffs.
Similarly, businesses across the Republic of Ireland and Northern Ireland can avail of support from InterTradeIreland.
Businesses can also avail of support from InterTradeIreland with issues related to the fallout from Brexit, including the recent changes resulting from the implementation of the Windsor Framework.