The U.S. decision to impose tariffs on imports of steel and aluminum from neighbors and allies swiftly brought promises of retaliatory duties. Products often don’t fit exactly within categories on tariff lists, and legal help may be needed to figure out what should be included. Failing to pay a tariff could trigger a penalty, but being reimbursed after paying one in error can take as much as a year, she said. In response, she said, companies should make sure they keep their tariff-related paperwork in order and that goods are correctly classified. “You’re going to need import specialists who are knowledgeable and empowered enough to address this.”Write to Henry Cutter at Henry.Cutter@wsj.com.

Source: Wall Street Journal June 04, 2018 09:33 UTC