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Drawback

A duty drawback is a refund by CBP of the duties, taxes, or fees paid on imported goods, which were imposed upon importation. More broadly, a drawback also includes the refund or remission of other excise taxes pursuant to other provisions of law. CBP's duty drawback scheme under the Customs Act of 1962 allows exporters to receive a refund on customs duties they paid on imported products that are then used or incorporated into other products for export or remain unused until importation.

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AES, EEI Filings Not Yet Proof of Export for Drawback Purposes
December 9, 2019 |Customs

Automated Export System and Electronic Export Information filings are not yet considered proof of exportation for drawback purposes, according to a Dec. 9 alert from the National Customs Brokers & Forwarders Association of America. NCBFAA said it received the “advice” from CBP after “many inquiries and some confusion” about proof of export rules.

Topics:Drawback
China Strategy a Muddle, Experts Say
November 19, 2019 by Mara Lee|Congress

The trade war that President Donald Trump began with China 16 months ago is creating pain for businesses, but there's a deeper strategic mistake to consider, said Matthew Goodman, senior vice president for Asian economics at the Center for Strategic and International Studies. Goodman, who was speaking during the first session in a Congressional Trade Series on Nov. 19, said, “I still don't know what the basic strategic goal is here." He said he didn't know whether the administration wants to get structural changes to China's economy, as it claims, or whether it wants to reduce the bilateral trade deficit, or to contain China's rise.

Topics:U.S. Trade Representative (USTR), Drawback, Trump tariffs
KPMG Hires Drawback Specialist
September 17, 2019 |Trade People

Dawn Olesky, previously vice president of drawback operations with UPS subsidiary STTAS (formerly Sandler & Travis Trade Advisory Services), is now at KPMG, said Andrew Siciliano, who leads the KPMG National U.S. Trade and Customs practice.

Topics:Drawback