Solutions for the US Tax Increase

Author: qinfoods   Date: 2019/05/20

From 10th May, many goods’tarris export to the USA increased to 25%. All the world are focused on the Sino-US trade war recently. What should foreign traders whose goods have already been listed, recently shipped to the US, or who want to open up the US market should do it now?

1.Strictly prevent US buyers from abandoning goods and delaying payment

2.Identify who pays the tariff

3.Pay close attention to exchange rate fluctuations

4.Don't be stuck in the same place

According to the latest foreign trade data, the EU was China's largest trading partner in the first four months. China exported 894.76 billion yuan to the EU, an increase of 14.2%. ASEAN is China's second largest trading partner. China exported 714.35 billion yuan to ASEAN, an increase of 13.4%. The United States is China’s third largest trading partner. China exported 833.04 billion yuan to the United States, a decrease of 4.8%.

In this year's Spring Fair, among the buyers who came to the conference, the buyers from the countries and regions along the “Belt and Road” had more than 88,000 people, accounting for 45% of the total number of visitors. New buyers from countries and regions along the “Belt and Road” accounted for 52.68% of the total number of new buyers, up nearly 1% year-on-year. This means that more than 50% of the 40% of new buyers come from the “Belt and Road”.

Looking further, ASEAN buyers increased by 4.79% year-on-year, with Thailand, Malaysia, Vietnam, Singapore and Cambodia all growing significantly, with growth rates of 10.75%, 9.08%, 23.71%, 4.4% and 8.83%, respectively.

We should not be stuck in the same place and the eggs should not be placed in a basket. The world is so big that the market is not only the United States.