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Chris Davey, from FBA4U, joins us today in Hong Kong. In this episode, we talk about HS codes and how to optimize them and how to improve your margins, do’s and don’ts with customs and tariff.
Live from Hong Kong’s Global Sources
- Chris Davey has been in the business for several years now.
- A lot of things has happened – tariff wars, HK protests.. and Q4!
Optimizing HS Codes
- You optimize the material in your product in order to improve your margins.
- There is more than one category that your product can fit in.
- The benefit of looking into the right product code is that you can choose the right category and reduce your tariff code.
- Anything that has 0% tax code will be stopped so you have to have a track record handy.
- Get a letter of usage in order to get through.
- NOTE: On the Chinese side – you need to watch out for your supplier changing the code to something that benefits them.
- So make sure you speak to your supplier.
- It can cost you a fortune
Keep Your Records
- Keep your records, you can be asked to produce your records in customs.
- If you are separating your payments records, separate your receipts.
Connect with Danny: https://sellersessions.com/agency/
Connect with Chris Davey:
- November 1, Chris will be in Guangzhou at the Canton Fair, network with them. Get your FREE TICKETS HERE: https://fba4u.com/free-tickets/
- Email: chris@fba4u.com
- Website: https://fba4u.com/
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