Who pays what in trade transactions is a fair question, particularly around insurance, transportation and customs clearance, and it is a question that has become more pressing in the light of tariffs. Incoterms are globally recognized rules set up by the International Chamber of Commerce that define the responsibilities of the buyers and sellers in international or domestic sales contracts involving the delivery of goods.
This article expands on how tariffs are treated in the latest set of Incoterms.
