International trade policies can shift rapidly, creating both challenges and opportunities for businesses. The Washington State Department of Commerce is committed to helping companies throughout the state to be nimble and competitive in domestic and global markets.
Responding to questions and confusion around recently implemented federal tariffs, in early April, the agency launched an online Tariff Information and Resource Guide. This new resource includes export-related support from across communities and at the state and federal levels. Visitors will find resources for mitigating or minimizing tariff exposure, and relevant state and federal resources that can assist businesses as they adapt their operations.
“Washington is one of the most trade-exposed states, and our intent is that this guide will help businesses better understand and respond to the impacts of these tariffs,” said Commerce Director Joe Nguyễn. “Our business community needs all the help it can get navigating these obstacles, and Commerce is committed to helping them succeed no matter what’s happening at the federal level.”
What are tariffs?
Most goods imported into the United States are subject to some form of customs duty. Tariffs are a specific type of duty that can be applied in addition to standard customs charges. Tariffs are often imposed with the intention of protecting domestic production, responding to trade imbalances and/or addressing national security concerns. For businesses, these tariffs can impact supply chains, business costs and international strategy.
“Our team worked quickly to develop a resource site that businesses can use to better understand tariff exposure and adapt to changing global trade policy,” said Grace Yoo, the agency’s Assistant Director for Economic Development and Competitiveness (OEDC). “This online hub will help Washington businesses and workers navigate evolving tariff realities and their local impacts.”
The site includes information about tariffs and the rates imposed on different countries, strategies to support business owners dealing with the tariffs, training and support, and other resources and events. The goal is a one-stop shop to support businesses in Washington, Yoo said.
What can exporters do?
The guide offers strategies and resources for businesses to help them adapt to an ever-changing trade landscape. Specifically, there are specific action steps and strategies that businesses can take to better understand tariff exposure and adapt to changing global trade policy. They include:
- Revisiting supply chain and trade agreements to reduce the share of goods exposed to additional duties.
- Creating strategies surrounding tariff classification and valuation, and in some cases identifying ways to create small, legitimate modifications to a product that shifts it to a more favorable Harmonized Tariff Schedule category.
- Addressing duty deferral and reduction, whether through foreign trade zones (FTZs) or customs bonded warehouses.
- Exploring options for refund and recovery, such as duty drawback and post-summary corrections and protests.
- Staying engaged and informed, through trade organizations and other like-minded groups. There is an array of education and resources, including seminars and webinars, networking events to help exporters connect with specialists who can address common export-related topics and even meet their unique needs.
Local jurisdictions are also sharing tariffs-related information and resources. The Export Finance Assistance Center of Washington, the Tacoma-Pierce County Economic Development Board and the Economic Alliance Snohomish County are providing information and assistance. Commerce, along with these organizations and others, is dedicated to helping make businesses more resilient to the tariffs’ potential effects.
“Commerce exists to strengthen communities,” said Director Nguyễn. “Responding to events such as this that have such a specific impact on day-to-day business is just one of the ways we are working to fulfill our mission.”
Whether a seasoned exporter or new to international trade, exporting still offers great opportunities for Washington State businesses. The online guide offers insight into the broader export support ecosystem to help connect you with help when and where you need it the most.
Connect with Commerce
Our Small Business Export Assistance (SBEA) team can help your business identify optimal overseas markets, develop global business strategies, and connect your business to opportunities and events specific to your sector. Overseas, our global in-market representatives help Washington businesses meet with potential buyers, partners and/or distributors, gather local market insights and explore new opportunities abroad. Visit the website to learn more and request one-on-one guidance.
www.choosewashingtonstate.com/tariff-response
www.efacw.org
www.choosetacomapierce.org
www.economicalliancesc.org
