Hello Friends. Just a reminder that billions of eligible drawback dollars go unclaimed each & every year here in the US. Yep..…you heard that right. In this new year and tough economy, we should be looking at every opportunity to positively impact the bottom line. If you haven’t established a duty drawback program, there is no better time than the present. Understanding and effectively utilizing duty drawback is crucial for automotive OEMs to thrive in the face of global competition.

Here are 5 things you need to know today:

1. Importing and re-exporting automotive parts in the same condition to Canada, Mexico, or most anywhere else in the world are fully drawback eligible;
2. Exporting locally sourced parts & vehicles that are classifiable under the same 8-10 digit HTS as your imported parts & vehicles qualify for drawback (stipulations apply);
3. Imported parts & materials that are transformed to assemblies & finished goods and then exported also qualify;
4. Drawback filers can be:  
   • Both importer & exporter
   • Exporters that partner with their suppliers who import
   • Importers that partner with their customers who export
5. The clock is ticking. You can only go back five years from today to file a claim for drawback. That means China Tariffs are now falling off the table every day.

Just a few pointers, but most importantly, Tradewin is here to help! Contact us today.