Are your exported goods on sanction list?

Please confirm whether your goods are on the sanctioned list before exporting, avoiding being abandoned or returned after arriving in the destination port.

Since Sino-US trade war opened officially on July 6th, the first batch of $34 billion in reciprocal sanctions has been implemented for more than a month.Furthermore,the second batch of $16 billion in reciprocal sanctions will be implemented officially in ten days.

One weeks has passed, two evens happened in foreign trade and international logistics,reflecting some problems and risks worth our attention.

The first event:

After the soy ship “Peak Pegasus” ran wildly, it “turned around” for more than a month at sea!

The soy ship "Peak Pegasus" ran wildly

The soy ship “Peak Pegasus” ran wildly

This vessel shipped from Seattle to Dalian on June 8th, took soy worth 150 million RMB, ran wildly, but finally didn’t arrive in Dalian port before 12:00 at noon on July 6th. There is no doubt that it cannot avoid 25% tax. It will have to pay 37.5 million RMB more in order to clear customs well.

It’s said that “Peak Pegasus” ship not turn around in the sea, in fact it wait for unloading. And the cargo ship began to moor and unload yesterday.

The most important is that 25% tax added will be paid by the buyer SINOGRAIN. Therefore, so many Chinese exporting companies are enough lucky to meet same buyer as SINOGRAIN?

Not at All !!

The second event:

According to many reflects, Sino-US trade war has been open for more than a month, some buyer did not found 25% tax to be paid, until the cargo arrived in American port.

Certainly these American small buyers will not pay for additional 25% tax like SINOGRAIN, finally they decided to abandon the cargo. Accordingly Chinese exporting companies have to deal with returning the goods and other matters relating to the follow-up.

Consequently,remind everyone,if you will export to America,please check and confirm if your goods are on tax list,contact American buyer to verify the situation.

In addition, please DO NOT fully hope your American buyer can update market direction in time, maybe they are not so professional as you think.

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