A Basic Guide to Exporting
Whether you’re a start-up or a mature business, this guide breaks down virtually every issue a new exporter might face. Get started now and you will gain the confidence to become an international sensation.
Are you ready to make international sales? Export Basics helps you assess your export readiness, understand what you need to know and consider before pursuing an international sales strategy, and, when you are ready, develop and implement your export strategy.
The subsequent sections of Export Basics — starting with Develop Your Export Plan — will help you develop and implement your export plan. Each section corresponds to the key components of an effective export plan — posing questions you should answer to complete your plan and providing resources to help you answer those questions.
If you are ready to begin developing your export plan, please proceed onto the next section, Develop Your Export Plan.
What is a tariff?
A tariff or duty (the words are used interchangeably) is a tax levied by governments on the value including freight and insurance of imported products. Different tariffs are applied on different products by different countries. The average duty worldwide is about 5 percent. National sales and local taxes, and in some instances customs fees, will often be charged in addition to the tariff. The tariff, along with the other assessments, is collected at the time of customs clearance in the foreign port. Tariffs and taxes increase the cost of your product to the foreign buyer and may affect your competitiveness in the market. So knowing what the final cost to your buyer is can help you price your product for that market. In addition, your buyer may ask you to quote an estimate of these costs before making the purchase.
Here are some additional tariff resources that include information that may be of use to you.
If you are looking to export your product or service, the United States may have negotiated favorable treatment through an FTA to make it easier and cheaper for you. Accessing FTA benefits for your product may require more record-keeping, but can also give your product a competitive advantage versus products from other countries.
The United States has 14 FTAs in force with 20 countries. The United States is also in the process of negotiating a regional FTA, the Trans-Pacific Partnership, with Australia, Brunei Darussalam, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam.
U.S. FTA Partner Countries: Australia; Bahrain; Chile; Colombia; DR-CAFTA: Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, & Nicaragua; Israel; Jordan; Korea; Morocco; NAFTA: Canada & Mexico; Oman; Panama; Peru; and Singapore.
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