Section 301 Duty Exclusions Set to Expire on 12/31/23
Unless Congress acts quickly, the duty exclusions currently in place for certain products imported from China are set to expire on Dec. 31st. Importers who currently enjoy these exclusions on their products will be required to pay the Section 301 duties (up to 25%) in addition to their regular Customs duties starting Jan. 1st. With Congress currently in recess it appears highly likely the exclusions will expire, and whether or not they will be reinstated is uncertain. It is also unclear whether any future reinstatements would be applied retroactively, enabling importers to file for duty refunds. We are closely monitoring this situation and will provide updates as they become available. Please feel free to contact me at steve@cssbrokers.com if you have any questions.
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Please visit our web page www.cssbrokers.com and click the link for Duty Drawback for more information. U.S. companies miss out on hundreds of millions of dollars in duty refunds, make sure your compa