With Donald Trump re-elected as president, you may be wondering how his proposed policies

affect your business.

From sourcing products to competing with Chinese brands, we'll cover everything you need

to know about tariffs, trade, and how to adapt your strategy.

First let's start with the basics.

What exactly are tariffs and how do they work?

A tariff is a tax that a government imposes on imported

goods to help fund the federal government. It's also used as a negotiation tactic for trade

agreements. Higher tariffs usually result in higher consumer prices on imported goods

and may encourage consumers to buy domestically made alternatives, which in theory should boost

the local economy and workforce.

Tariffs are calculated as a percentage of the total value of the imported goods.

This value includes the cost of the product, shipping, and insurance, also known as the

CIF value.

For example, if you import $10,000 worth of tumblers and the tariff

rate is 25%, you'll owe an additional $2,500 when the shipment arrives in the U.S.

So who pays for these tariffs? It's not the Chinese supplier, it's you, the importer.

When your shipment arrives at customs, you're

responsible for paying the tariff before your goods are released. If you use

DDP shipping delivery duty paid, the supplier pays these fees up front, but the cost

is passed along to you as part of the total price. So one way or another, the tariff almost always ends up affecting your bottom line.

Now let's talk about President Trump's proposed policies and how they could affect your business.

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