Liz Young
👤 PersonAppearances Over Time
Podcast Appearances
You know, if a shipment's being delivered by air, it'll be a little faster, but certainly it'll take days or weeks for these tariffs to really fully come into effect.
You know, if a shipment's being delivered by air, it'll be a little faster, but certainly it'll take days or weeks for these tariffs to really fully come into effect.
It's more complicated because now companies that may not have traditionally had to pay tariffs or that may have paid quite minimal tariffs are having to go through their books again, work with these licensed customs brokers. and figure out what is the actual duty rate we need to be prepared to pay. How do we pay it? They have to calculate those levies themselves and then make payment.
It's more complicated because now companies that may not have traditionally had to pay tariffs or that may have paid quite minimal tariffs are having to go through their books again, work with these licensed customs brokers. and figure out what is the actual duty rate we need to be prepared to pay. How do we pay it? They have to calculate those levies themselves and then make payment.
So they are responsible for making sure that it's the correct amount. This isn't a case where the U.S. sends them a bill and they pay it online. It's a little more complicated than that. Companies that may have only previously had to calculate one duty rate may now have to calculate three or four or more.
So they are responsible for making sure that it's the correct amount. This isn't a case where the U.S. sends them a bill and they pay it online. It's a little more complicated than that. Companies that may have only previously had to calculate one duty rate may now have to calculate three or four or more.
So items that contain steel, for example, they might have a separate line item based on how much steel is in that item. And then the country they come from, if it's China, for example, it would have several other duties on top of that.
So items that contain steel, for example, they might have a separate line item based on how much steel is in that item. And then the country they come from, if it's China, for example, it would have several other duties on top of that.
So this is making a process that might have previously been, you know, let's say 10% for any item imported is now several line items that they have to go through and calculate.
So this is making a process that might have previously been, you know, let's say 10% for any item imported is now several line items that they have to go through and calculate.
Companies are grappling with this largely by relying on licensed customs brokers. Customs brokers specialize in this. They have to set up their systems, too. So it's been something where they have to kind of race to get ready for this. But they are skilled and ready to help with the importing paperwork, help with calculating the duty rate, help with facilitating payment.
Companies are grappling with this largely by relying on licensed customs brokers. Customs brokers specialize in this. They have to set up their systems, too. So it's been something where they have to kind of race to get ready for this. But they are skilled and ready to help with the importing paperwork, help with calculating the duty rate, help with facilitating payment.
And most companies rely on those brokers to help them navigate this.
And most companies rely on those brokers to help them navigate this.