Simply Trade

Overpaying? Your Product's Origin Reveals All - Greg Pilkington


Listen Later

Today, we bring you critical insights from a global customs expert who's worked with DHL and the World Customs Organization. Learn how businesses can navigate complex trade regulations, avoid costly penalties, and strategically manage international shipping challenges. Greg Pilkington reveals insider strategies for compliance, tariff management, and global trade survival.

 

Contact Greg:

LinkedIn: https://www.linkedin.com/in/gregpilkington/

 

Main Points/Takeaways:

  1. Customs Compliance Essentials
    • Accurate goods description is critical
    • HS code precision can mean the difference between 0% and 31% duty rates
    • Country of origin declaration is mandatory at the line-item level
    •  

      Key Quote: "If you don't know the country of origin, you're basically saying, 'I want to pay the highest rate I can.'" - Greg Pilkington

       

      2. Tariff Strategy and Risk Management

      • Small businesses most vulnerable to tariff changes (est. 5 million impacted)
      • Tariff engineering requires:
        •  Product master file tracking
        • Component-level origin tracking
        •  Flexible sourcing strategies
        • Key Insight: Tariffs impact lower-cost goods more significantly than high-value items

           

          3. Strategic Organizational Approach

          • Customs is no longer a back-office function
          • Cross-functional collaboration is essential
          • Need for a chief compliance officer with customs expertise
          •  

            Key Quote: "If your boardroom doesn't have at least a chief compliance officer familiar with customs brokerage, you're behind."

             

            4. Global Trade Adaptation

            • Globalization 1.0 is struggling
            • Companies must be nimble and quick
            • Sourcing patterns shifting (e.g., increased Asia-to-Asia trade)
            • Recommended Action: Conduct immediate audit of import/export operations to understand tariff implications

               

              #InternationalBusiness

              #TradeCompliance
              #LogisticsTips

              In the midst of all this chaos, education is your best ally. Access Exclusive Resources Here ⏬

              Recommended Resources:

              Check out these courses we offer here at GTC! 👀🌎

              📩Importing https://globaltrainingcenter.com/importing-procedures/ 

              😵‍💫Tariff Classification https://globaltrainingcenter.com/tariff-classification/ 

              🗺️Country of Origin https://globaltrainingcenter.com/country-of-origin/ 

              👓🧠Surround yourself with other trade professionals: Join our Trade Geeks Community!  https://globaltrainingcenter.com/trade-geeks/ 

               

              Connect with Simply Trade Podcast:

              - Subscribe: https://www.youtube.com/channel/UCdmyGU5foKm4aFlpo7Oms4g

              - LinkedIn: https://www.linkedin.com/showcase/simply-trade-podcast/

              - Twitter: https://twitter.com/SimplyTradePod

              - Website: https://globaltrainingcenter.com/simply-trade-podcast/

               

              Contact Us/ Suggest Topics

               

              Credits:

              Host/Producer: Lalo Solorzano: https://www.linkedin.com/in/lalosolorzano/

              Co-Producer/Editor: Mara Marquez: https://www.linkedin.com/in/maramarquez85/

              Host: Andy Shiles: https://www.linkedin.com/in/andyshiles/

              ...more
              View all episodesView all episodes
              Download on the App Store

              Simply TradeBy Global Training Center

              • 4.6
              • 4.6
              • 4.6
              • 4.6
              • 4.6

              4.6

              22 ratings


              More shows like Simply Trade

              View all
              WSJ Your Money Briefing by The Wall Street Journal

              WSJ Your Money Briefing

              1,727 Listeners

              WSJ What’s News by The Wall Street Journal

              WSJ What’s News

              4,356 Listeners

              Trumponomics by Bloomberg

              Trumponomics

              355 Listeners

              WSJ Tech News Briefing by The Wall Street Journal

              WSJ Tech News Briefing

              1,639 Listeners

              Macro Musings with David Beckworth by Mercatus Center at George Mason University

              Macro Musings with David Beckworth

              384 Listeners

              Masters of Scale by WaitWhat

              Masters of Scale

              3,988 Listeners

              GZERO World with Ian Bremmer by GZERO Media

              GZERO World with Ian Bremmer

              798 Listeners

              The Trade Guys by CSIS  |  Center for Strategic and International Studies

              The Trade Guys

              148 Listeners

              FT News Briefing by Financial Times

              FT News Briefing

              664 Listeners

              Two Minutes in Trade by Sandler, Travis & Rosenberg, P.A.

              Two Minutes in Trade

              32 Listeners

              Morning Brew Daily by Morning Brew

              Morning Brew Daily

              3,003 Listeners

              Morning Wire by The Daily Wire

              Morning Wire

              26,638 Listeners

              The Big Take by Bloomberg

              The Big Take

              156 Listeners

              The Markets by Goldman Sachs

              The Markets

              75 Listeners

              The Economics Show by Financial Times

              The Economics Show

              139 Listeners