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Welcome to the inaugural edition of VEDP International Trade’s Supply Chain Newsletter

VEDP's Supply Chain Program team is excited to bring you a curated snapshot of the latest insights, trends, and developments shaping the global supply chain world. For this first edition, we’re focusing on tariffs and exploring strategies businesses can use to reduce their impact. We hope you find this roundup as informative and thought-provoking as we did while putting it together.

Recruitment season for the Supply Chain Optimization Program is just around the corner! Reach out to Monica Sadie at [email protected] or click this link to learn if your company is eligible to take part in the program. With only 20 spots available, space is limited, so don’t wait to reach out!

Until the next shipment of insights,
Monica Sadie and John Sauls
Supply Chain Program Team, VEDP International Trade

Firms Launch Tools to Help Shippers Measure Tariff Costs

As shifting tariffs continue to impact global supply chains, Flexport and C.H. Robinson have introduced tools aimed at helping businesses navigate duties impacting international shipments. Flexport, a San Francisco-based global logistics technology company, recently launched the Flexport Tariff Simulator, a tool designed to help businesses estimate landed costs and navigate tariffs in real time at no cost. The free tool is available to the general public at tariffs.flexport.com.

Along with the tariff simulator, Flexport is also launching a searchable catalog of harmonized tariff schedule codes to navigate classification requirements, special duty rates, and customs clearance processes.

Click here to read more.

See How Some Businesses Are Finding a Work Around to Tariffs

Businesses are finding a workaround to minimize the most significant hit from tariffs, using a decades-old piece of legislation known as the “first sale rule.” Within U.S. customs law, the first sale rule allows U.S. importers to use the price of the first sale in a number of transactions to calculate customs duties. Click here to read more.

If your business is interested in exploring options related to the “First Sale Rule”, VEDP International Trade’s Supply Chain team may have some helpful resources to get you started. Reach out to Monica Sadie ([email protected]) or John Sauls ([email protected]) to learn how.

STR Outlines Tariff Stacking Scenarios

On April 29th, President Trump issued an executive order providing that some of the import tariffs he has imposed this year will not have a cumulative (or “stacking”) effect on covered goods.

STR has created a chart showing which tariffs stack and which do not. Fill out and submit their form HERE and you will be emailed a link to their chart summarizing U.S. tariff stacking scenarios. This is a great tool for businesses looking for a concise overview of potential tariff scenarios for their products.

Scale Smarter: How Automation Transforms Freight Scheduling

The temporary reduction of US tariffs has ignited a surge in orders across various industries. While this should be an opportunity for growth, many companies are poised to find themselves overwhelmed by the unexpected increase in order volume. This influx isn’t just a matter of processing additional orders; it’s about scheduling freight in a way that ensures timely deliveries while minimizing costs. Unfortunately, many organizations are still relying on outdated manual scheduling approaches, creating inefficiencies that cost both time and money.

This is where Generative Artificial Intelligence (GenAI) technology provides a game-changing solution. By incorporating advanced machine learning and automation, companies can streamline their scheduling operations and thrive even in challenging conditions.

Click here to read more.

VEDP Releases Strategies to Mitigate Increased Tariffs

VEDP released a guide that outlines several strategies for businesses to manage and mitigate the impact of increased tariffs on imported goods coming into the United States. It covers three main approaches:

• Avoiding tariffs through the use of ATA Carnet, tariff engineering, special classification provisions, the country of origin, free trade agreements, the Miscellaneous Tariff Bill, De Minimis shipments, and China exclusions
• Mitigating tariffs with first sale valuation, duty deferral in foreign trade zones, and product valuation adjustments
• Recovering paid tariffs through refunds, transfer pricing, and post-entry procedures

Click here to learn more.

Port of Virginia Hosts Supply Chain Optimization Program

This May, VEDP’s Supply Chain Optimization Program (SCOP) was honored to host a dynamic 2-day training event focused on impactful and timely supply chain best practices. Held in Norfolk and at the Port of Virginia, the event welcomed 41 attendees from across the Commonwealth for an in-depth exploration of key supply chain topics such as:

• Duty drawback opportunities to offset tariff impacts
• Global shipping trends and their effects on supply chains
• HS Code classification best practices
• Global tariff and trade policy insights
• Supply chain technology solutions for streamlining ERPs
• Import compliance from U.S. Customs and Border Protection
• A Port of Virginia tour and presentation on port services

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