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Importers Should Calculate Bond Increases to Avoid Another Insufficiency Notice, Surety Executive Says
October 23, 2018 |Customs

PALM SPRINGS, Calif. -- Piecemeal bond increases to satisfy CBP insufficiency notices won’t be enough to dig importers out of the hole created by recently imposed sections 232 and 301 tariffs on aluminum and steel and products from China, respectively, said Dave Jordan of Roanoke Trade on Oct. 20. While CBP looks at duties paid over the past 12 months to set bond requirements, importers have likely seen their duty liability spike in the past few months since the tariffs were imposed, and will “probably end up with an insufficiency letter again in a few months” as more time passes with the tariffs in effect, he said, speaking at the Western Cargo Conference. Importers should do their own calculations, taking the month with the highest amount of duties paid, multiplying that by 12 months and setting a bond at 10 percent of that amount. For example, an importer that averaged $500,000 in duties paid over the last two months should extrapolate that to $6 million over the year and get a bond for $600,000. Some importers' products covered by multiple trade remedies could see bond requirements rise substantially, Jordan said. One of his clients, an importer of solar panels subject to Section 201 safeguards and Section 301 tariffs, started with an $800,000 bond that’s now up to $11 million, he said. CBP has urged importers to be “proactive” in setting their bond amounts (see 1808210029), given the recent spike in insufficiency notices (see 1807260011).

Topics:Customs duty, Section 232 Tariffs, Section 201 Safeguards
CBP Says Automatic Quota Processing Limited for Multiple Chapter 99 HTS Codes on the Same Line
October 23, 2018 |Customs

Quota processing for quota entry summary lines with three or more Harmonized Tariff Schedule codes will require manual input by CBP, the agency said in a CSMS message. That situation may occur "if the line is properly classified with two chapter 99 HTS codes (a section 301 HTS and a quota HTS) and the commodity HTS," it said. "Until a programming fix can be implemented, once you have successfully transmitted into ACE a summary including a quota line with three or more HTS codes, please email your entry details to HQQUOTA@cbp.dhs.gov and your assigned Client Representative for assistance," the agency said.

Treasury Dept. Regulatory Agenda Mentions Final Rule on Alcohol Excise Tax Refund
October 22, 2018 by Tim Warren|Customs

The Treasury Department published its fall 2018 regulatory agenda for CBP. The agenda includes one new rulemaking involving the Craft Beverage Modernization Act. The agency will try to issue an interim final rule by December this year that "eliminates a restriction pertaining to CBP’s authority to refund excessive duties, taxes, fees, or interest imposed on distilled spirits, wine, and beer," it said.

Topics:Drawback, Forced Labor
Change to ACE Quota Processing Should Relieve Headaches for Some West Coast Filers
October 22, 2018 by Brian Feito|Customs

PALM SPRINGS, Calif. -- A recent change to ACE processing of absolute quota entries marks a “big improvement,” especially for West Coast importers, said Pauline Hogue, program manager-trade at CBP’s Los Angeles Field Office, at the Western Cargo Conference on Oct. 19. A switch from daily batch processing to hourly processing (see 1809180015) means quota entries are processed throughout the day, and any cargo that arrived after 4:30 p.m. Pacific time will no longer have to sit until the next batch is processed the following evening Eastern time. Now such shipments will be processed at 9:45 a.m. Pacific time the following morning. The change came as part of the deployment in ACE of absolute quota functionality, which hadn’t been initially included because absolute quotas hadn’t existed for almost a decade until they were imposed as part of country-specific deals to end Section 232 tariffs on steel and aluminum.

Topics:Section 232 Tariffs