Hot Off the Press - Exclusions are back!!
In a surprise move, the USTR issued a pre-publication notice in the Federal Register reinstating 352 Section 301 product exclusions. These previously active exclusions will be valid through December 31st of this year. Additionally, the notice is to apply starting October 12, 2021, so importers with applicable products will be able to go back retroactively and reclaim duties paid on products which entered the US on or after October 12, 2021 – so long as these entries are still within the Post Summary Correction (PSC) or Protest window.
PSCs and Protests are amendments to already processed entries and are the mechanism to trigger any refunds from CBP. For importers interested in taking advantage of retroactive refunds, it is important to act quickly, as the clock is ticking on the timeframe for PSC and Protest eligibility. A Protest can only be filed up to 180 days after an entry is liquidated, and a PSC can be filed on an entry which has not yet liquidated.
I’m an Importer that previously utilized an exclusion – Am I eligible?
Importers who are interested in learning more should take the following next steps:
- Review the full list of which exclusions have been reactivated HERE.
- Reach out to your Customs Broker or Ashley Coxey with any clarifying questions or assistance confirming eligibility
- Work with your Customs Broker to put together a list of impacted entries back to October 12, 2021. Prioritize the most urgent for PSC and Protest filing to claim retroactive refunds and work backward to make the appropriate filings
- Ensure your Customs Broker has all necessary information to claim the exclusion on all applicable entries moving forward, until the exclusions expire again on December 31, 2022
We have a team of experts on staff who would be happy to help you navigate the complexities of these issues. Please contact Ashley Coxey, National Director of Business Development, Customs Brokerage or your Laufer representative for more information on any topic discussed in this week’s market letter.