San Francisco-based logistics technology company Flexport has introduced the Flexport Tariff Simulator, a tool that helps businesses calculate landed costs and track import duties in real time.
The Flexport Tariff Simulator also incorporates an interactive map, allowing users to monitor global trade data, such as the total value of imports from a specific country, the current average tariff rate, and the proportion of goods imported from that country in the total US import volume. In addition, Flexport also introduced a searchable Harmonized System (HS) code library, supporting businesses in looking up product classification codes, identifying special tax rates, and customs clearance requirements.
Ryan Petersen, founder and CEO of Flexport, stated that their customers are increasingly interested in better understanding the impact of import duties. "Our engineering team developed this import duty simulator to meet the urgent need in the face of rapidly changing policies. We want to help businesses avoid unexpected costs," he said.
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Flexport and C.H. Robinson's tools will help businesses calculate import duties for shipments. Photo: Jim Allen/FreightWaves |
Flexport and C.H. Robinson's tools will help businesses calculate import duties for shipments. Photo: Jim Allen/FreightWaves
Meanwhile, C.H. Robinson, a third-party logistics provider, has also added the U.S. Tariff Impact Analysis to its global shipping platform, helping businesses assess the impact of tariffs on each shipment, while providing detailed cost analysis.
Mike Short, President of Global Forwarding at C.H. Robinson, said this new tool simplifies the evaluation of complex factors in global trade.
"A US retailer can quickly identify best-selling items imported from the same source, then compare the total tax cost when importing from different alternative sources, thereby making decisions to shift the supply chain in the future," he said in a press release.
Not only Flexport and C.H. Robinson, but many other companies are also developing tools to support businesses and consumers in assessing import duty costs. In March, UPS launched Global Checkout, an automated duty calculator integrated into online stores, helping buyers receive the full cost, including taxes, fees, and surcharges right at checkout.
In May, Shopify also launched a tax and tariff calculation tool for international orders, supporting e-commerce retailers in understanding global shipping costs.
Earlier, in February, Agtools, a software provider for the food industry, launched a tool that helps users calculate taxes for each item in real time, while simulating scenarios affecting supply, distribution, and prices.
Gia Han (According to Freight Waves)
