Question of the Month: Are 301 tariffs eligible for duty drawbacks?

question of the month

With our Licensed Customs Broker, Jessica Parks Q: Are 301 tariffs eligible for duty drawbacks? A: Yes, However Duty drawbacks, or refunds, of these duties can only occur under specific circumstances.  Your goods are eligible for duty drawback if, after being imported into the U.S., they are subsequently exported without ever entering U.S. commerce, OR they are legally destroyed or disposed of without ever entering … Read More

Is the Merchandising Processing Fee (MPF) Increasing this year?

Q: Is the Merchandising Processing Fee (MPF) Increasing in 2021? A: Yes, U.S. Customs & Border Protection (CBP), posted notice of the below-noted increase(s) in user fees, which are effective October 1, 2021. CBP will increase Consolidated Omnibus Budget Reconciliation Act (COBRA) ‘User Fees’ by 11.009 per­cent to adjust for inflation in the fiscal year 2022. New Rates Include: MPF Minimum:  $27.75 (previously $27.23) MPF Maximum:  … Read More

Customs Brokerage Question of the Month with LCB, Jessica Parks

Customs Question of the Month

Q: What information should your commercial invoice have to ensure compliance? A: Per U.S. Customs Regulations, each invoice for imported merchandise must include specific information and be in English (or include an English translation) to ensure compliance (19 CFR § 141.86).  This information includes, but is not limited to, a detailed description of the merchandise, the purchase price and currency, country of origin, the seller … Read More

Customs Brokerage Question of the Month

Customs Question of the Month

Q: What are Anti-Dumping and Countervailing Duties? A: Antidumping (AD) and Countervailing Duties (CVD) are intended to offset the value of dumping and/or subsidization, thereby leveling the playing field for domestic industries taking a hit by unfairly traded imports. “Dumping” occurs when foreign manufacturers sell goods in the United States less than fair value, causing injury to the U.S. industry. AD cases are company-specific; their … Read More

Continuous Bond: What Is It, and Why Do You Need One?

Customs Question of the Month

Q: Why do I need a continuous bond? A: Customs Bonds are required by US Customs for all commercial imports valued at $2,500 or more, even if a shipment is duty-free.  A bond guarantees to U.S. Customs & Border Protection (CBP) that the importer will make good on its payment for the duties and taxes due per shipment.  There are Single Entry Bonds (SEBs) that … Read More

What is an Importer Security Filing (ISF)?

Customs Question of the Month

Q: What is an Importer Security Filing (ISF)? A: The Importer Security Filing, known as the ISF, was put into place on January 26, 2009 as an additional security measure for cargo coming into the US by ocean.  ISF Importers, or their agent, must transmit the required data elements, no later than 24 hours before the cargo is laden aboard a vessel destined to the … Read More

Are 301 Tariffs Eligible for Duty Drawback?

Customs Question of the Month

CUSTOMS QUESTION OF THE MONTH with Licensed Customs Broker, Jessica Parks Nov. 2020 Q: Are 301 tariffs eligible for duty drawback? A: Yes, However Duty drawbacks, or refunds, of these duties can only occur under specific circumstances. Your goods are eligible for duty drawback if, after being imported into the U.S., they are subsequently exported without ever entering U.S. commerce, OR they are legally destroyed … Read More