Tariff Systems and Their Impact on Cross-Border Contracts

Description

This Skill Bit shows that tariff systems are vital in global trade, shaping goods’ movement and business strategies. Understanding them empowers contract professionals to draft strategic agreements. They align pricing structures with tariffs, crucial for international trade success. Tariffs vary, including ad valorem, specific, and compound types, impacting pricing strategies and market access. Professionals must track tariff changes, strategically source goods, and engage customs brokers to navigate international commerce effectively.

Duration approx. 4 Min.

Tier: advanced