In the past, tariffs were used by countries primarily as a way to bring in revenue for the government. Today “tariffs are now typically used to protect domestic industries or as leverage in trade negotiations and disputes,” according to the nonpartisan Congressional Research Service.
The controversial tariffs brought about by the US Trump administration provide a clear example of this. Costs on selected imports to the US have been raised with the main aim of economic leverage, and has made a large impact on consumers and businesses.
This strategy is not unique to the US, however. Countries in Africa also make use of import duties as a tool for trade. For example, as of 1st June 2024, courier shipments to Angola with value up to AOA 1.5M now face a flat import tax of 16%. This is greatly shaping the products the country chooses to bring in and export.
Import duties and tariffs can be very challenging to understand and deal with when moving goods. Which is why FAMS provides an expert service that can assist with:
• Duty regimes for all types of import and export
• Planning your logistics needs with the right cost in mind
• Ensuring smooth clearance and delivery
With our presence all across Southern Africa, FAMS is your trusted partner for navigating regional trade and customs with confidence.