How the US-China Trade War Benefits Hong Kong
When the president of the united states was inaugurated, he made promises by aggressively looking to reassert America’s role as a manufacturing leader. The president pulled tariffs on washing machines, and solar panel plus the tariff wall was extended to cover everything from aluminum, luxury bags, steel and different home boots. In a mission to accomplish his campaign promises, president import tariffs on washing machines and solar panels plus tariff were prolonged to cover a wide variety of home goods. The US government increases the tariff of Chinese products from 10% to 25% over the years.
E-commerce businesses and crowdfunderss in America that depend on Chinese made products ruin of their businesses due to growing tariffs, and it will affect their profit margin. The United States of America and China now news Hong Kong as a cross border they want to have ecommerce fulfillment which offer a lucrative opportunity for Hong Kong. If you are used to shipping from China when it is time to change perspective and try shipping from hong kong to us because it has a large amount of freedom and independence.
Hong Kong made use of their freedom and independence by creating a good tax system and has its own currency. Hong Kong was a founding member of the World Trade Organization in 1995 and it has maintained independence custom and economic area. Businesses people get to enjoy the warehousing and shipping services in Hong Kong ports for free since they are not affected by the inflated tariffs so the demand for the ports are high.
Hong Kong has become the best place for people who want to complete their cross-border order fulfilment when shipping for either China or USA. Since Hong Kong is well known as a separate territory, issues regarding economics and cross product training has been respected when the Congress passed the United States-Hong Kong Policy Act. People in ecommerce order fulfillment industry benefit from shipping through Hong Kong since they have lower tax rates and effortless shipping procedures.
Hong Kong is better than shipping from china since they are located at the center of major shipping lanes of the Asia-Pacific region since she can easily access this is Canal, Panama, Southeast Asia and America through its ports. The location of Hong Kong is essential since the shipping ports connect ships from Suez Canal, Panama, America and Southeast Asia. Hong Kong is well connected to China’s mainland and has modern transport systems like railways and roads which connected to China’s major city for speedy deliveries. Hong Kong is the best place to make shipping requirements since you have a connection to over 200 cities by using their direct flights.
If you run a company overseas and want a fulfillment service then you can partner up with the Hong Kong companies, so you get steady flow of quality products at affordable prices. Partnering with the Hong Kong company means you do not have to worry about legal issues since they understand the local laws and taxes, so there is smooth flow of trade across borders. Clients will not have to incur additional courses on goods and services taxes since products can be exported without approval as long as the formalities are submitted within 14 days before departure.