Ford Reviewing Options After Transit Van Decision
Ford Motor Company is "evaluating our options following the most recent ruling" on tariff engineering and the applicable duty rate for the Ford Transit van (see 1906070061), the company said in a June 12 Securities and Exchange Commission filing. The…
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U.S. Court of Appeals for the Federal Circuit on June 7 overturned a Court of International Trade decision that had said vans imported by Ford are classifiable as passenger vans and dutiable at 2,5%, even though the stripped-down rear seats included in the vans were removed right after clearing customs. "If we ultimately receive a favorable ruling, we will receive a refund of the contested amounts paid and we will treat the refund as a special item," the company said. "Similarly, if we are required to pay the higher rate for prior imports, the payment will be treated as a special item." Neither event would affect the company's earning guidance, it said.