As of mid-May, transpacific freight markets are facing tighter capacity, rising rates, fuel volatility, and new China regulatory requirements, with further GRIs and Peak Season Surcharges expected into June.
Companies that import goods into the United States and later export or destroy them are likely eligible for duty drawback refunds. And if your business does qualify, duty drawback can return millions of dollars to your bottom line.
If you want to reduce import and export costs, compare duty drawback and tariff exclusions so you can choose the right approach. Balancing risk, cash flow, and compliance isn’t easy. Duty drawback and tariff exclusions can lower your import- and export-related costs, but they work in different ways.