I am new here, but let me tell you some of what I have been doing over the last year.
I have been working with some Italians that want to set up a web store and sell to the US market. They want to sell their own stuff and also flesh out the product line by offering some other makers' shoes and accessories on the site. Therefore they need to have the ability to drop ship both their own and their suppliers' stuff in the USA.
They found a wholesaler to handle the other manufacturers goods on a drop ship basis.
For their own drop shipping we did the following (and it is not up and running yet).
Created a corporation to run things in the USA - This allows them to deal in dollars, use VISA/MC, keep profits here, et cetera.
Contracted with DHL to warehouse their own goods in NY/NJ.
Contracted with DHL to drop ship on demand within the US.
UPS offers the same service, warehousing and drop shipping. Both of them can handle returns and offer detailed reports.
One of the biggest problems they have is getting a bank account for a US entity controlled by a non US person. We are getting a handle on that part at some expense.
It looks like it might work too!
The biggest problem you will have getting started using this type of setup is cost. I think they have invested about $20k so far. If sales go as expected they will make out fine. If not, they lose their nice silk shirts