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Dutycalc Data Systems was founded in 1988 as a software and consulting company that designs, develops and implements management support systems for the import, export and brokerage communities. Our primary area of focus is Duty Drawback and the implementation of our fully automated Drawback System.

COMPANY INFO

6300 Stanley Dr
Auburn, Ca
95602

+1 (530) 637-1006

info@dutycalc.com

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Duty Calc - Duty Drawback Software and Consulting Company

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 Update Section 301

 Update Section 301 Duty Drawback Software | Import Export Consulting | Processing Filing | Full Service
Wednesday, 23 January 2019 / Published in Drawback, drawback service, drawback software, export tax, import tax, Section 301

 Update Section 301

 Update Section 301

Duty Drawback Software | Import Export Consulting | Processing Filing | Full Service

 

What is Drawback

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The trade war between the U.S. and China continues to impact economies on both sides. Tariffs have caused the U.S. stock market to plummet as the changes have led to a disruption in supply chain for major companies like Amazon, Facebook, and Apple. In China, analysts have reported that economic growth has slowed to its lowest in ten years. Sure, investors and shareowners are worried, but the two countries are making progress towards repairing the trade relationship.

It has been confirmed that on December 1, 2018 the U.S. and China reached an agreement to delay an increase on list three products. The increase of 10% to 25% on U.S. products was originally set to begin on January 1st. However, according to the White House, there will be a 90-day extension. If no agreement is made within those 90 days, rates will then rise to 25%.

In addition, China has agreed to, “purchase a not yet agreed upon, but very substantial amount of agricultural, energy, industrial and other product from the United States to reduce the trade imbalance” (Crowell Moring). This agreement from China may be a policy change or may be left up to private sector entities. The commitment has not yet been confirmed.

Lastly, during the December 1st meeting China also agreed to reduce the tariffs on U.S. automobile exports down from 40%.

There is still a significant gap between what the U.S. is seeking and what China is willing to offer, but these minor changes and progressions seem to hint at a solution. What happens within the next 90 days will give us an idea of what might happen in the near future.

For more information on the Section 301 tariffs and updates on the U.S. – China trade war, check back in to the DutyCalc blog.  

 Update Section 301
Duty Drawback Software | Import Export Consulting | Processing Filing | Full Service
Tagged under: drawback consulting, drawback software, duty drawback, import export drawback, import export tax

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    Dutycalc Data Systems was founded in 1988 as a software and consulting company that designs, develops and implements management support systems for the import, export and brokerage communities. Our primary area of focus is Duty Drawback and the implementation of our fully automated Drawback System.

    COMPANY INFO

    6300 Stanley Dr
    Auburn, Ca
    95602

    +1 (530) 637-1006

    info@dutycalc.com

    WE'RE SOCIAL

    TOP