Export

From ExportUsa a tariffs desk to help exporting companies save money

L’area beauty del department store Neiman Marcus a Beverly Hills

3' min read

3' min read

The 'Sportello da Tariffs USA', a new service designed to support Italian companies exporting overseas, has been set up between Italy and the United States. A consultancy service to help companies find their way around customs classifications and tariffs. The initiative is promoted by ExportUsa, a company active since 2003 with offices in New York, Miami, Dayton (Ohio), Rimini and Brussels, specialised in accompanying Italian companies in their internationalisation processes towards the American market.

'We want to offer concrete support to companies in a delicate phase for international trade,' explains President Lucio Miranda, 'helping them to save on tariffs through a specific import protocol that we developed with a well-known US law firm specialising in customs law, which allows companies to achieve significant savings already from the first year of application.

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The Counter (email dazi@exportusa.us) is a reference point for those seeking clarity on US customs regulations. The service starts with the correct classification of the product according to the US customs nomenclature (HTS Code), followed by a customised savings simulation based on volumes and production costs.

The service offers tailor-made advice: it starts with the correct customs classification of the product and the analysis of the applicable tariff. 'A common mistake,' explains Miranda, 'is to cumulate tariffs without distinction, with the risk of raising costs. For example, steel and aluminium are subject to different tariffs depending on whether they are primary or derived products. And on the latter, the calculation is not made on the total value, but on the share of steel or aluminium contained in the finished product'.

This applies to everyone, including companies exporting cosmetics or food supplements: with an annual value of $12 million, they could save up to $200,000 in one year, $700,000 in three years, and $1.2 million in five depending on the specific industrial cost of that company. For industrial machinery, with exports worth 15 million per year and an average tariffs of 14%, the estimated savings could reach $400,000 in the first year and up to $2.5 million in five years.

Again, a company with a value of annual exports to the US of 5 million dollars and an average tariffs of 10% with an industrial cost of 40% of the price expressed in the import invoice could save $150,000 in the first year; $650,000 in 3 years; $1.1 million in 5 years; in the case where the value of annual exports to the US was instead $15 million with an average tariffs of 10% and an industrial cost of 45% of the price expressed in the import invoice, the savings would be $550,000 in the first year; $1.8 million in three years; $3.2 million in five years.

Finally, with an annual export value to the US of $25 million with an average tariffs of 10% and an industrial cost of 50% of the price expressed in the import invoice, one could save $850,000 in the first year; $2.7 million in 3 years; $4.5 million in 5 years.

'With the desk we are able to make simulations for each individual case,' adds Miranda. 'The 30 per cent announced by Trump is only a hypothesis linked to the outcome of the negotiations, but in all likelihood the new basis to be considered will be 10 per cent.

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