Tag

Importers Of Record

All articles tagged with #importers of record

politics6 hours ago•12 min saved

Trump Announces Sweeping Overhaul of U.S. Customs Enforcement

The White House unveils an executive order to overhaul U.S. customs enforcement, tightening importer-of-record rules with higher bonds and domestic-asset requirements, limiting informal entries by foreign IORs, expanding data disclosures and vetting, and imposing stiffer penalties and faster disposal for noncompliance—all to bolster national security, protect revenue, and support domestic industry, with timelines for regulatory changes, enhanced transparency, and potential legislation.

via The White House (.gov)|

#cbp #ctpat #customs-enforcement

politics13 hours ago•3 min saved

Trump Unveils Sweeping Customs Reform to Tighten Import Rules

President Trump signed an executive order directing DHS and CBP to overhaul U.S. customs enforcement with tougher importer-of-record requirements (bonding, assets, good standing), new disclosure/certification rules to curb duty evasion, a 50% minimum penalty floor, expanded seizure/disposal powers, and increased transparency, all aimed at national security and a stronger, more compliant trade system. The reforms will go through rulemaking and are part of an America First trade policy, including de minimis restrictions and reciprocal-trade commitments; the changes will not take effect immediately.

via The White House (.gov)|

#cbp #customs-enforcement #dhs

business1 month ago•2 min saved

US launches CAPE portal to start historic tariff refunds for importers

CBP will begin processing IEEPA tariff refunds via the CAPE portal on the ACE system, with Phase 1 limited to certain unliquidated or near-liquidated entries and a 60–90 day refund window if there are no compliance issues. About 330,000 importers paid roughly $166 billion in duties, but only around 56,500 have enrolled for electronic payment, so early refunds will cover only a subset. The effort faces potential delays, ongoing litigation (including Costco’s suit), and additional phases to address the remaining refunds.

via Axios|

#ace-system #business #cape-portal