Learning how to start an import export business can be a daunting experience when reading news from the marketplace.
Recently Obama administration imposed import tariff on steel pipes and tires from China. The announcement was widely criticized by the Chinese as well as around the world as expression of anti-free-trade policy. Be it as it may the move reflects US government’s determination to safeguard further loss of jobs and to make US products more competitive.
Is it likely that US will revert to protectionism and Chinese imports will become less desirable? That is unlikely to happen anytime soon. Free trade is here to stay as is importing from China and the Third World.
Despite low US dollar, which makes cost of American products more affordable in global marketplace, import export business will continue to be the driving force of world commerce. Would-be importers will continue to look to China as top supplier of a wide spectrum of products. Should you import from China?
Although China is best suited to import from by a medium size business almost any product imaginable can be found in China. The economic meltdown and general slump in exports from China over the last 12 months certainly forced thousands of smaller manufacturers out of business in China, would-be importer should still continue to look for opportunities in import export business in China.
Although low value of the dollar is an issue for the importer, Chinese government continues to keep Yuan, the Chinese currency, undervalued, which renders cost of Chinese products very affordable for importing.
Do keep in mind that should the Chinese government give in to the US pressure and allow Yuan to trade at its face value, the move can make the price of Chinese products considerably more expensive overnight. As of today, however, there are no signs that will happen anytime soon.
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