workaround to minimize U.S. tariffs
This is a U.S. news story, published by CNBC, that relates primarily to Fictiv news.
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first sale methodCNBC
•Business
Business & Economics
Businesses are finding a workaround for tariffs — and it's entirely legal
73% Informative
The " first sale rule" is a concept in U.S. customs law that allows importers to use the lowest cost of a good to calculate duties.
For instance, a Chinese manufacturer sells a t-shirt to a Hong Kong vendor for $ 5 .
Under the first sale rule, the retailer can pay the import duty on the initial $ 5 price of the good, rather than the vendor's inflated $ 10 .
Use of the first sale rule could undermine the Trump administration's efforts to boost tariff revenue and boost onshoring of manufacturing.
BBQ-maker Traeger and U.S. manufacturing firm Fictiv also cited first sale as "supply chain mitigants" and means to "minimize tariff and duty costs".
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