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Side-by-Side Comparison Cheat Sheet
Tariffs & Duties Explained: A Plain-Language Reference for Importers, Exporters, and Freight Forwarders
A free cheat sheet from the commercial logistics specialists at Vivace Insurance Partners.
Tariffs and duties affect the true cost of every cross-border shipment — but the rules around them aren’t always straightforward. Different tariff types. Multi-step calculations. Additional duties that stack on top. Trade agreements that change what applies and when.
This cheat sheet gives importers, exporters, freight forwarders, and the brokers who serve them a clear, practical reference for understanding how tariffs and duties actually work.
What’s Inside:
- The difference between tariffs and duties — and why it matters
- A step-by-step guide to calculating tariff costs, including HS codes, customs value, and additional taxes
- All 10 tariff types explained: specific, ad valorem, compound, protective, retaliatory, and more
- The purpose behind tariffs and duties — from revenue generation to national security
- The role of trade agreements in reducing barriers and simplifying cross-border trade
- How the WTO facilitates global trade, settles disputes, and supports developing nations
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Questions about cargo coverage or freight liability placements? Contact Cordell Fenig, Managing Director, at cordell.fenig@vivaceinsurancepartners.com or access the Vivacity platform for quotes.