Part 2: Select What You Want To Import
As a trade company, your income will be generated by selling the goods that you import. Careful selection of your goods will result in an efficient business, and avoid undue loss of time or capital. We want to see you succeed, and your success is largely dependent on the items you select. To do this, gather as much information as possible on what you intend to import- understand the product, how its made, what materials it uses, etc. Understand the market, who currently sells it, how much does it sell for, and where and when is it popular? If possible, samples of the product can further aid your determination.
This information will all be useful to determine the goods’ tariff classification. A tariff classification, under the Harmonized Tariff Schedule, allows the freight forwarder to properly identify the rate of duty which will need to be collected for the import.