There is a subtle economic shift going on in China that most investors are unaware of. While many investors are focused on Chinese high tech, medical, and financial opportunities, most overlook one basic commodity. This basic commodity is in short supply domestically and over 50% of domestic demand is imported, historically 80% of imports came from one country, and the imported price has tripled in the past 3 years.

What should one know about US customs when importing goods into the United States? A lot! And please note that customs in this context does not mean cultural traditions. It means rules, regulations and restrictions, and usually taxes! What rules, regulations and restrictions, (as well as how much are the taxes are), depends upon what one is importing and how much!

An individual may make his/her own Customs clearance of goods imported for personal use or business. All merchandise coming into the United States must clear Customs and is subject to a Customs duty unless specifically exempted by law. Clearance involves a number of steps: entry, inspection, appraisement, classification and liquidation.

Everyone knows there are great deals to be found overseas — items that can be picked up for a fraction of the cost. But what most people don’t realize is that almost everything they’re buying domestically was already imported. They’re just paying a mark-up cost to the middleman who did the actual importing for them. For those new in business, there’s nothing wrong with that. But for the established businessperson, importing directly can save a lot of money.