TradeLane

Global trade compliance is complex, resource-intensive, and constantly evolving. For many organizations, maintaining an in-house compliance team to execute operational functions isn’t always practical. That’s where Tradewin’s TradeDesk comes in.

 Trade Compliance in the US as a function has gone mainstream as tariff policy has led to increased duty exposure and added complexity to entry rules across industries. Companies now more than ever are focused on maintaining their compliance posture while compliantly avoiding and recovering duty payments wherever possible. 

U.S. Customs and Border Protection (CBP) has issued new guidance (CSMS #66319804) that significantly impacts how importers and brokers must report replacement duties under Chapter 99 of the Harmonized Tariff Schedule of the United States (HTSUS). This update specifically affects certain imports from the European Union, Japan, and the United Kingdom—and has direct implications for drawback filers seeking to preserve eligibility.

If you are a business engaged in international trade, you may have a valuable opportunity to reduce costs through a program known as Duty Drawback. This program allows your business to recover the duties, taxes, and fees paid on imported goods that are subsequently exported or destroyed.

Although the recovery process can be complex, the potential savings can be significant. Continue reading to explore the basics of the program, who is eligible, and how Tradewin can assist you.

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.