I recently received this email from a potential customer:
How do you expect people to import from China when Trump keeps raising the terrifs [tariffs]? Bad time to import!
It definitely seems like the world is becoming a less friendly place for international trade. New tariffs against China from the United States, harsher import rules from China in retaliation, and a global trend towards more stringent and unfriendly importing rules are scary on the surface for a entrepreneur hoping to import a new or existing product wholesale from China or anywhere else. But, a deeper look at the situation reveals that things are not as bad as they seem:
1. At the end of the day, anything that increases costs over a certain period of time like tariffs usually gets passed on to the consumer. So even if the product you are considering importing gets hit with higher tariffs, your competitors and you can pass on the costs to the consumer and maintain your margins. This may slow demand but for most product categories won’t eliminate a substantial portion of demand.
2. There are many products that will not be hit with higher tariffs that you can market in the Business to Consumer and Business to Business markets. If you haven’t begun importing anything yet, you are actually at an advantage as you can research what categories may face higher tariffs and avoid those product types.
3. My book and kit focuses on China because of the huge demand for imports from there, but all the information, processes, and tools can be used to import from almost any other country as well.