As metals companies in the United States engage in international trade, metals leaders are encountering the challenges of increasingly complex trade barriers that make importing and exporting products riskier. Meeting reporting requirements, understanding and properly applying tax laws, and complying with various tariff regulations can be time consuming, overwhelming, and difficult to get right – especially in the metals industry.
Metals companies that don’t keep up with the dynamic changes in trade policy and regulations can face financial penalties, customs delays or denial of import, investigations, audits, and legal consequences – not to mention the added time and frustration of having to fix the problem.
When metals leaders have a better understanding of what needs to be in place, they can avoid potential legal, financial, and production ramifications.