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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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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
CBP Corrects 19 CFR on Seizures, FTZs, Drawback, Etc.
August 26, 2010 by Kelly Sly|Customs and Ports

U.S. Customs and Border Protection has issued a final rule, effective August 26, 2010, making corrections to various parts of 19 CFR as part of its policy to periodically review its regulations to ensure that they are as accurate and up-to-date as possible so that the importing and general public are aware of CBP programs, requirements, and procedures regarding import-related activities.

Topics:Drawback