How To Benefit From Free Trade Agreements

Did you know that there are currently 14 free trade agreements in effect in the United States? Companies that know how to navigate the intricacies of the Customs regulations are saving millions of dollars affording them a financial advantage. Many of us have heard of the North American Free Trade Agreement, or NAFTA, but there are many other countries that are involved in free trade agreements with the United States in addition to Canada and Mexico. Some of these other countries include; Australia, Korea, Singapore and Chile, just to name a few. Are you participating in trade with a country that has special privileges? Distinct expertise is required to analyze products in determining if they meet the criteria necessary to qualify for free trade. These determination factors include; regional value content analysis, tariff shifts determination and classification review of products according to the Harmonized Tariff Schedule of the US. These are very confusing to understand and the evaluation is only the first step. Upon the completion of the appropriate analysis and the determination of eligibility, properly completed support documentation is required to benefit from the agreements while remaining in compliance and to ensure the avoidance of penalties. ITM works with a variety of U.S. companies that are importers and/or exporters of a wide range of products that qualify under a variety of free trade agreements. Do you import and export from a foreign country that may be involved in a free trade agreement with the U.S? Contact us today for a free no obligation review of your circumstances to see if you can save money while ensuring compliancy.