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How do You Overcome High Tariff Barriers?
Top Strategies to Tackle Tariff Increases
- Negotiate with Vendors and Suppliers. If you have positive relationships with your suppliers, get a head start on renegotiating terms. …
- Raise Prices Where Necessary. Take a fresh look at your profit margins. …
- Explore New Markets.
Trade and Economic Sanctions
- Choose a different market not affected by economic sanctions.
- Export a different line of products/services not subject to trade sanctions.
- Delay market entry if it appears sanctions may be lifted.
Other ways to reduce trade barriers include reduction of non-tariff barriers, aligning domestic laws of licensing, and other practices that inhibit trade according to international standards so as to promote free trade.