The U.S. government’s steel and aluminum tariffs recently went into effect, and in response, some of our trading partners have implemented retaliatory tariffs on U.S. goods. Specifically, retaliatory tariffs from China, India and Turkey will directly impact the agricultural market and has the potential to put California almonds at a competitive disadvantage.

With no clear strategy from the government to aid almond farmers, hullers, shellers, processors, handlers and workers impacted by the new tariffs, the almond industry must take steps to protect itself. To keep business sustained in a time of an uncertain trade environment, growers may look to doing business with partners they have not yet worked with before because they are not able to sell to their typical customers. International trade credit insurance can protect you in this new business environment with unfamiliar clients.

International trade credit is a type of insurance that protects your business from the risks of non-payment of invoices. Credit insurance mitigates risk of non-payment of products sold so if your customer cannot pay you, you will still get up to ninety percent of your money. This means your invoices are covered!

International trade credit insurance has a host of services related to overseas commerce to go along with its core function of insuring your accounts receivable. For more information on how to utilize international trade credit insurance, feel free to contact Matt Bigham at mbigham@wgis.com or (602) 757-7869.