Market Overview

Flexport Launches Trade Advisory

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SAN FRANCISCO, Feb. 26, 2020 /PRNewswire/ -- Flexport, the modern freight forwarder, today announced the launch of Trade Advisory, a service to help its U.S. clients identify cost saving opportunities, explore tariff mitigation strategies, minimize operational risk, and implement best practices for trade compliance amid unprecedented global complexity.

Flexport (PRNewsfoto/Flexport)

Where most traditional trade law and consulting firms specialize in reactive guidance, Flexport Trade Advisory provides proactive, tailored solutions based on SKU-level data analysis powered by the Flexport Platform. Because Flexport clients use the Platform to manage and track the shipment of their goods, Trade Advisory experts can examine supply chains down to the SKU-level and deliver data-powered analysis and recommendations.

The US-China trade war caught many shippers off guard as they faced unforeseen duty amounts, customs audits, and penalties. U.S. Customs and Border Protection (CBP) also increased enforcement efforts across all products and industries. From 2018 to 2019, Flexport found that, on average, the percentage of customs duties (relative to freight and commercial invoice value) paid by its clients on US-bound import shipments from China increased by 84%.

"Customs has always been high stakes: it is one of the more data-intensive functions within logistics, with penalties for small errors and the potential to disrupt a company's supply chain," said Adam Dambrov, Director of Flexport's Trade Advisory Services. "Our team brings decades of deep customs and global trade experience to help clients proactively uncover what's possible and build resilient supply chains, rather than just mitigating Customs-related costs and issues."

Flexport is already providing its U.S. clients with Trade Advisory services including duty drawback, compliance assessments, tariff classification, customs valuation, protests, prior disclosures, antidumping and countervailing duty assistance, training, and assistance with Section 301 tariffs. The company plans to expand Trade Advisory Services into Canada, Europe and Asia.

About Flexport
Flexport is the modern freight forwarder. Companies use Flexport to move, finance and make better decisions about freight - all on one digital platform powered by a unique combination of technology, logistics infrastructure and expertise. Today Flexport connects almost 10,000 clients and suppliers across 116 countries, including established global brands as well as emerging innovators. Flexport offers a full range of services, including ocean, air, truck and rail freight, drayage and cartage, warehousing, customs and trade advisory, financing, and insurance.

Contact:
Cate DeBenedictis, Flexport
(415) 497-2603
cdebenedictis@flexport.com

 

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SOURCE Flexport

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