LAUFER’S COMPLIANCE EXPERTISE MITIGATES RISK AND SAVES MONEY

These are unprecedented times and every dollar added to the bottom-line matters. Laufer Group is always looking for ways to help companies save time and money, and avoid regulatory risk. As a partner, we provide our expertise to every facet of our customers’ supply chains.

Through our proactive approach, Laufer’s Customs Compliance Department has helped many importers discover new ways to save money. Many customers needed guidance with Section 301 (China) tariffs and exclusions. We helped a particular customer identify applicable exclusions and made the necessary filings. This process enabled their company to obtain multiple refunds they were entitled to as well as avoid additional tariff payments on future imports—saving them more than $250,000 over an 18-month period. Laufer has had similar success across multiple industries within the U.S., netting over $16 million in refunds for our customers.

The first round of Section 301 tariffs was announced in July 2018. Ultimately, two thirds of all goods imported from China were impacted by these additional tariffs.

Prior to the onset of the COVID-19 pandemic, Section 301 tariffs added 7.5% or 25% of additional duty to goods from China.

Importers faced difficult solutions to avoid these tariffs—by either changing where their goods were sourced from or using the exclusion process (if possible) to offset the duties. Laufer partnered with our customers to help them through the complex exclusion process. Not only was this process difficult for importers to navigate, but the details were grueling for them to handle alone—another reason why it’s important to work with a trusted partner.

It is our mission to stay at the forefront of customs and compliance changes. We are here to help customers save money and ensure that shipments are not delayed. Whether it’s Country of Origin labeling, trade and tariff support, Post Summary Corrections, Binding Rulings, or tariff classification guidance—we have you covered.

Contact our customs expert, Ashley Coxey, National Director of Business Development, Customs Brokerage, via email at Acoxey@laufer.com, or call 602.463.2738. Or, get in touch with your local Laufer representative.