Watching the news can really make you wonder about how we will all get through things.
Importers seeking refunds of section 301 duties for exclusions that were issued after the subject entries have liquidated and after the protest period has expired may have difficulties in recovering those duties through any existing post-entry mechanism. One importer has even filed a suit at the Court of International Trade to compel CBP to reliquidate such entries so that they can benefit from the exclusions, but the result of that case is unknown at this time.
Topics: Duty Drawback, Section 301
When it comes to compliance, there are a multitude of things to juggle. I’m often asked for a link to one government site or another and there are certainly hundreds of sites to choose from.
Sometimes you can’t see the forest for the trees. Here is a list of websites that contain some basic guidelines for a laundry list of compliance issues.
Topics: Duty Drawback, Section 301
It’s been an extraordinary year in international trade. Higher duties, more complex supply chains driven by trade actions, and a pandemic that has left many businesses understaffed in important areas.
Topics: Duty Drawback, Section 301
The “encouragements” that Adam Smith refers to are none other than Duty Drawback. In the United States, drawback has been a fixed part of trade policy since 1789 when the Founding Fathers understood that a thriving domestic economy required robust international trade.
By allowing exporters of products to draw back duty imposed upon its initial importation, it puts those exporters on an equal footing with their overseas competitors.
Simply put, better-priced products sell, well, better.
Topics: Duty Drawback
