In the United States of America, all imports are controlled and restricted through amount limitations, taxes, laws, and inspections. These restrictions vary according to the agreements that the United States has with particular countries. China is no exception.
China imports will continue to be part of the US economy. In July 2009, US Secretary of Treasury Timothy Geithner visited China, and the headlines reported that during the two-day talks, the two countries agreed to “fight protectionism” and ensure that trade remained “open and rule-based.”
Such rules include that all imports into the US must pass all relevant regulations concerning goods sold in the US. Entrepreneurs considering engaging in China imports should remember to check US Customs regulations and regulations issued by government agencies such as the United States Department of Agriculture (USDA) and the Food and Drug Administration (FDA).
The China importer must also be aware that he or she will have to pay customs duties applicable to bringing any goods across the US border, including China goods. This includes private imports of Chinese goods, like a personal-use television, computer, or car. Other taxes will also apply. China importers should also take note of the difference between the US dollar and the Chinese currency, the yen (sometimes written as the “yuan”). The exchange rate between currencies changes virtually daily, and multiple free currency converters are available online. The yen and the dollar have been fairly equally matched in recent times, although for the past few decades the US dollar has been stronger than the yen.
Importers of China goods must be educated about all of these issues before deciding to bring goods from China into the United States.