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Managing tariffs is a complex and challenging task, but there are several strategies that companies can employ to minimize the financial impact of tariffs on imported goods. One crucial strategy is to meticulously assess customs valuation practices to ensure the most appropriate valuation method is utilized, along with taking advantage of all available deductions and exclusions.

A variety of tariff mitigation strategies exists for companies to manage their tariff burden. These include, but are not limited to, the first sale for export method, identification of non-dutiable costs, claiming latent defect allowances, and booking post-importation price adjustments. It is imperative to grasp the requisites and constraints of each strategy before implementation and to collaborate closely with customs brokers and advisors to ensure full compliance with all customs regulations and procedures.

This article from the ÀÖÓ㣨Leyu£©ÌåÓý¹ÙÍø Trade & Customs team provides a comprehensive understanding of these and additional tariff mitigation and customs valuation strategies to effectively manage tariff disruption.