FAQ

Stay Ahead with Daily Tariff Trends

Deliver clear, concise, and accurate answers to common questions, ensuring users can quickly find the information they need without confusion. Focus on simplicity and directness to create an effortless and seamless user experience that saves time and enhances satisfaction.

How often is tariff information updated?

Our platform updates tariff data daily to ensure accuracy.

Can I access historical tariff data?

Yes, you can review past tariff changes through our archives.

Is the platform free to use?

Basic access is free, with premium options available for advanced features.

How do I report discrepancies in data?

You can contact our support team to address any data concerns.

Why do countries impose tariffs?

Countries use tariffs for various reasons, such as protecting domestic industries from foreign competition, encouraging local production, retaliating against trade disputes, or raising government revenue.

What are the different types of tariffs?

Compound Tariff: A combination of ad valorem and specific tariffs

Ad Valorem Tariff: A percentage of the value of the imported goods.

Specific Tariff: A fixed fee per unit of imported goods

Do tariffs always work as intended?

Not necessarily. While they can protect domestic industries, they may also lead to trade wars, retaliatory tariffs, and higher consumer prices.

How do tariffs impact global trade?

Tariffs can create tensions between trading nations, influence supply chains, and shift global production patterns as companies adjust to cost changes.

What is Harmonized Tariff Schedule (HTS) Codes?

Every imported product is assigned an HTS code, which determines the applicable tariff rate. These codes are standardized internationally but may have country-specific modifications.

How Companies can utilize tariff’s for an competitive advantage

Companies may use tariff engineering—modifying products slightly to fit into a lower-tariff category. Additionally, some businesses use bonded warehouses to defer tariff payments until goods are sold

What are Tariff Rate Quotas (TRQs)?

Some tariffs operate on a quota system where a lower tariff rate applies to a specific volume of imports, and higher rates apply once the quota is exceeded.