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Newsletter | Feb 2024

Jack LaMadeleine • Feb 01, 2024

Recent news from CBP regarding cargo messaging and expediting cargo shipping

TOP NEWS

In January 2024, CBP implemented cargo messaging to communicate with the filer on entry summaries that are potentially noncompliant for antidumping and countervailing duties while the entries are in trade control. The cargo messaging is informational only but by taking corrective action to address potentially noncompliant issues while the entry is still in trade control, filers may reduce the need for further action by CBP for the identified issue. 

WHAT'S HAPPENING AT ITM?

We are excited to welcome Farah Roopchan to the International Tariff Management team. Farah comes to us with a background in import operations and experience in her previous roles as an export agent. We are incredibly happy to have her on board as our newest Tariff Manager. 

FROM CBP

CBP is modifying an ongoing test designed to expedite the entry of of low-value shipments. Launched in September 2019, the test allows Section 321 shipments (imported by one person, on one day and having a value of $800 or less in the country of shipment) to be entered via informal entry in ACE, resulting in faster clearance. This test allows CBP to address the growing volume of Section 321 shipments resulting from the increasing use of e-commerce. 

Understanding Duty Drawback: A Comprehensive Guide

By Jack LaMadeleine • 12 Mar, 2024
In the intricate world of international trade, various mechanisms exist to facilitate smoother transactions and encourage commerce across borders. One such mechanism is duty drawback, a process that offers significant benefits to businesses engaged in importing and exporting goods. In this guide, we will delve into the concept of duty drawback, its benefits, and how businesses can leverage it to their advantage.

Understanding the Impact of Interest on Delayed Refunds in Duty Drawback Cases

By Jack LaMadeleine • 07 Mar, 2024
The implications in the case of Union of India and ORS. v. Patil and Sons Belgaum

Newsletter | Mar 2024

By Jack LaMadeleine • 01 Mar, 2024
Department of Commerce's new policies and trade community advancements

Newsletter | Jan 2024

By Jack LaMadeleine • 01 Jan, 2024
We are excited to announce our first monthly newsletter! Our goal of this new endeavor is to keep our clients and the companies in our network up to date with all information regarding drawback, CBP and more!

Free Trade Certification

10 May, 2022
A free trade agreement (FTA) is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods. Currently, there are 14 Free Trade Agreements in effect in the U.S. with 20 different countries. An importer collects and maintains the information to support the FTA qualification. An exporter from the U.S. is required to complete a declaration verifying that their goods qualify for free trade with the participating country. The rules associate with FTAs are complicated and the analysis is intricate. There are multiple steps to the process and each one must be completed in order to move onto the next. 1. Classify the product according to the HTSUS in order to determine the rule of origin for the specific finished product 2. Choose a preference criteria from the 4 available. 3. Use the rule of origin to determine the qualification of the finished good.

Do you rely on your broker to classify your imported products?

28 Mar, 2022
How proper classification can equate to big savings for your company.

Does your company have a viable drawback opportunity?

11 Feb, 2022
Duty Drawback is a refund from Customs, for 99% of the duties paid on imported materials that are subsequently exported, destroyed or used in the manufacture of exported goods. Today, only about 25 percent of eligible duty is being recovered. This means that $5 billion dollars goes unclaimed for drawback, and that money might be yours. So, how do you know if you are a candidate for a lucrative duty drawback program?

TFTEA starts this month!!

06 Feb, 2019
The new drawback regulations are written and will take effect on February 24, 2019. That’s less than a month from now!! ITM is prepared to continue filing on behalf of all of our clients and we are excited about the possibility of new opportunities that will now exist under the new guidelines.

Where do we stand with TFTEA

By jlamadeleine • 08 Oct, 2018
Customs has maintained that the ultimate goal of TFTEA is to streamline and simplifying the drawback process. At this time, there are no formal regulations in effect, but the guidelines have been released and reviewed extensively by the trade. After much conversation and deliberation, the trade was allowed and has formally submitted a response to Customs on these proposed regulations and now waits the allotted 90 days to find out how they have been received and what the final determinations will be.

Everything you need to know about the Section 301 Tariffs

25 Sep, 2018
In April of 2018, the current administration announced that it would impose increased tariffs on items imported from China. By April of 2018, the Office of the US Trade Representative (USTR), released the first list of 1,300 tariff numbers subject to an additional 25% duty. That list, referred to as US List 1, went into effect on July 6th and included steel and aluminum. The USTR announced that this would subsequently be followed by a List 2 and 3.
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