Import From China
Imports from China totaled $482 billion in 2015, up 3.2% (or $15 billion more) from 2014. The top U.S. imports from China are electronic goods, with the value being $482 billion in 2015. These products account for 14.4% of total U.S. imports each year.
Other popular import products from China include:
- toys and games
- medical and technical equipment
Always make sure you are thoroughly researching your international partner. Too many small U.S. import export business have been burned by bad deals, because they didn’t take the time to confirm the product they were purchasing or verify the Chinese seller. Ask for a product sample ahead of your importation. Verify that the seller is using the proper classification for the product (the HTSUS number). Make sure that your product meets consumer standards and that you can legally sell it once it arrives in the U.S. Contact your local Export Assistance Center and request an International Partner Search to be done on your supplier. These reports are like a background check and will provide you with information on the reputation and financial standing of your Chinese supplier.
Always use a reputable logistics provider. They will arrange for movement of your product, and can assist with any documentation requirements, as well as guide you through the Customs process. Always check on the amount of import duties, taxes, and fees that will need to be paid. Many times, American importers have found themselves shocked when the product arrives at the Customs port of entry and they discover that they owe huge amounts of tariffs and fees to clear the product – sometimes it can be as much as 100% of the product price (or CIF) or more.
Importing from China can provide you with opportunities to sell a variety of products that are in demand, but always proceed with caution.
The Import Export Institute provides complete instruction and training in all areas of importing and exporting for those who wish to operate their own import export business. Call or email us today for more information.