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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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CAFC Rules Drawback Adjustments Correct in Thai Carbon Steel Pipes AD Review
February 18, 2011 by Marie Rapport|Penalties and Courts

A remand redetermination of the final results of the March 2006 -- February 2007 AD administrative review of carbon steel pipes from Thailand brought appeals from both the Thai producer and domestic producers, over how and whether the ITA should add duty drawback adjustments (which are granted by the exporting country on re-exported materials), to normal value and to the cost-of-production calculations that serve to eliminate below-cost sales from margin calculations. The Court of Appeals for the Federal Circuit ruled that the ITA did not err in granting a duty drawback adjustment, increasing export prices, and increasing the cost of production by the amount of the exempted duties. (See ITT’s Online Archives or 11/24/09 news, 09112440, for BP summary of earlier CIT decision) (Appeal Number 2010-1220, dated 02/14/11.)

Topics:Drawback
AFL-CIO and USW Announce Opposition to Revised KORUS
December 10, 2010 by Kelly Sly|Top News

The AFL-CIO and the United Steelworkers (USW) have each issued statements in opposition of the recently revised U.S.-Korea Free Trade Agreement (KORUS). AFL-CIO President Richard Trumka stated that he welcomes the efforts by the Obama administration to address the concerns of autoworkers and auto companies with respect to market access, safeguard provisions and some non-tariff barriers. However, the labor movement's concerns about the FTA go beyond the auto assembly sector to a more fundamental question about what a fairer and more balanced trade policy should look like. In particular, the labor movement has consistently and for many years argued that the investment and government procurement provisions in the Korea FTA will encourage offshoring.

Topics:Customs duty, Drawback
CBP Extends Comment Period, Proposes More Changes to Form 301
November 9, 2010 by Barbara Chaves|Top News

U.S. Customs and Border Protection is extending the comment period by an additional 30 days on its proposed extension and revision of an information collection that would revise CBP Form 301 (Customs Bond) in order to accurately reflect the changes that have occurred with regard to CBP bonds and to make other revisions to the form.

Topics:Drawback