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What’s Your U.S. Manufacturing and Tariff Strategy?

NovaAdmin · October 30, 2018 ·

Last Updated on December 14, 2022

U.S. tax reform legislation of 2017 allowed companies to repatriate overseas cash at a one-time 15.5 percent tax rate, down from the 35 percent paid in the past. But what will companies do with all that cash now that it’s back home? Some are buying back stock, but others are investing in U.S. manufacturing sites. And now, with nearly 6,000 Harmonized Tariff Schedule (HTS) item classifications identified for the imposition of a 10 percent to 25 percent penalty tariff on imports from China, it is time to consider all options. Even though some products, parts, and raw materials have escaped the penalties so far, the future of new tariffs and penalties is uncertain, especially with companies that have Mexico industrial manufacturing operations. Will your products be next? What is your U.S. manufacturing and tariff strategy?

Should you be considering Mexico contract manufacturing? Sourcing from other countries? Reshoring? Building inventories? Use of a foreign-trade zone? Increasing prices to your customers? And what about exports? Every time we impose a penalty tariff, foreign countries respond with an import tariff of their own. Have you considered how these foreign tariffs will affect your export sales?

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China, Mexico Industrial Manufacturing, Mexico Manufacturing China, Manufacturing, tariff

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