Vanessa Gomez Quoted in Crain’s Cleveland on Use of Bonded Warehouses to Manage Tariff Costs

Vanessa Gomez, Managing Associate in Benesch’s Transportation & Logistics Practice Group, was quoted in Crain’s Cleveland Business discussing the rising use of bonded warehouses as a strategy to manage tariffs. These facilities allow importers to delay payment of tariffs and taxes until goods are removed from the warehouse, offering the potential advantage of paying at a more favorable rate, though this comes with the risk that rates may increase.

“We are certainly seeing more clients consider bonded warehouses,” she said. “It’s a good way to manage the timing of duty payments, which will help with cash flow.” 

She added that some of the current uncertainty around tariffs may ease as the year progresses and more stable rates emerge. “Things can change. The White House’s executive orders and proclamations all indicate that,” she said. “If relationships change with some of our trade partners, that could be a cause for the White House to increase or decrease tariffs as they see fit.”

Read the full article here.