2020: a year unlike any other. And with a little under two weeks left, many of us are preparing for some much-needed respite after the roller coaster ride of the last eleven months. From the onset of a global pandemic to economic volatility, a tumultuous US election, and unprecedented supply chain disruptions, and then some, this year will go down in history. But before turning the page on 2020, there are two noteworthy trade issues that US companies should pay very close attention to before the year concludes.
The Miscellaneous Tariff Bill (MTB) and The Generalized System of Preference (GSP) both have major cost-saving implications for US companies as related to the suspension of duties on certain eligible US imports.
Being able to take advantage of duty-free savings for imports can return significant opportunities to your business, but of course, there are specific parameters and guidelines that must be met in order to qualify.
In our latest episode of Talking Trade, Michael Ford provides guidance and factors to consider for US companies who may wish to benefit from the MTB and GSP. He'll discuss how these opportunities impact business, and why they are major issues to keep an eye on, especially as the year draws to a close.
Tune in below for the full discussion.