One company is turning the trade war into an opportunity to profit.
New York–based financial services firm Raistone Capital says it can secure accelerated tariff refunds for US businesses impacted by the imposition of duties on Chinese imports. In March 2018, President Donald Trump authorized 25% tariffs—known as Section 301 tariffs—on certain goods imported from China.
Exclusions from the tariffs are based on a specified list of commodities and their date of import, which can be found in the US Federal Register of September 20, 2019. The register lists goods related to technology transfer, intellectual property and innovation, based on their retroactive date of import and miscellaneous products, such as industrial plastics, resins and other composite materials.
“Many companies have successfully obtained exclusions to Section 301 Tariffs, which they have already paid, but are faced with the complexities of filing for the tariff refunds and the uncertainty of when the refund payments will be received,” says Dave Skirzenski, CEO of Raistone Capital. “Our accelerated tariff-refund program streamlines the refund application process and accelerates the refund payment, providing working capital to companies of all sizes, which they can put to use now.”