Leaders in the Logistics Industry for Pharmaceuticals
February 18, 2025
New Import Duties on Mexican Goods: What Businesses Need to Know
March 4, 2025
New Import Duties on Canadian Goods:
What Businesses Need to Know
The U.S. government has announced new tariffs on imports from Canada, set to take effect on March 4, 2025. These measures, implemented through Executive Order 14192, will impact businesses engaged in cross-border trade. Understanding these changes is crucial for companies to adjust their supply chains, pricing strategies, and compliance efforts.
Key Details:
- Effective Date: March 4, 2025
- Tariff Rate: 10% ad valorem on select goods
- Exclusions: Some essential goods, including medical supplies, remain exempt
Businesses importing from Canada should review their supply chains and prepare for the financial impact. Compliance with the updated tariff classification is critical to avoiding penalties.
How to Stay Compliant
- Check the latest HTS classifications for affected goods
- Ensure accurate reporting of duties in customs filings
- Contact CBP representatives for guidance on compliance
As these new tariffs take effect, businesses should stay informed and adapt their import strategies accordingly.
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As always, please contact your Western Overseas agent if you have any questions or concerns.
