International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
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.
The Court of International Trade on May 31 said that a duty drawback claim becomes deemed liquidated after one year if the underlying import entries are also liquidated and final, with finality defined as the end of the 180-day window in which to file a protest with CBP.
A bill introduced by Sen. Bernie Sanders, an independent from Vermont, and Rep. Ilhan Omar, D-Minn., would end duty drawback for petroleum taxes that are dedicated to the Oil Spill Liability Trust Fund and to Superfund. The bill, called the End Polluter Welfare Act, was first introduced a dozen years ago.
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
A recent bill from House Ways and Means Committee member Rep. Beth Van Duyne, R-Texas, would change the drawback statute so that items that have a Harmonized Tariff Schedule description beginning with "other" no longer would be ineligible for unused substitution drawback, drawback expert Dave Corn said.
PHILADELPHIA -- The glacial pace of developing electronically submitted export manifests is finally picking up, participants on a CBP export modernization panel said, with Tom Pagano, outbound enforcement policy branch chief, saying "we're really close."
PHILADELPHIA -- Getting the funding for ACE 2.0 is the biggest challenge, the executive director of CBP's trade transformation office said. He said the agency was unsuccessful in the budgetary process, and asked industry to lobby their representatives for funding.
CBP released a guidance document detailing the roles and responsibilities of CBP and customs brokers faced with cybersecurity incidents. The document, released March 11, further details processes that were outlined in an initial guidance issued in April 2023.
CBP issued the following releases on commercial trade and related matters:
Robert Stein, former executive at supply chain logistics firm Mohawk Global, has joined Braumiller Consulting Group as vice president, according to his LinkedIn announcement. Stein said he will be working on foreign-trade zone, duty drawback, import/export compliance, Harmonized Tariff Schedule classification, customs valuation and free trade agreement matters.