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Congress has included the Customs Business Fairness Act on Dec. 21 as part of the latest coronavirus relief package that changes the way U.S. bankruptcy law is applied to customs brokers when importers become insolvent. Under the current law, a customs broker may be ordered by the bankruptcy trustee to give back the duty paid to it by the insolvent importer during the past 90 days. It does not matter to the bankruptcy trustee whether that money has already been paid to Customs and Border Protection (CBP) to cover import duties.
The provisions amend various sections of the Bankruptcy Code on a temporary basis to provide additional relief to customs brokerage businesses directly impacted by COVID-19 pandemic.
Laurie Arnold, Regulatory Officer of JAS Forwarding USA Corporate Compliance, along with Whitmer and Worrall, led the NCBFAA's latest lobbying effort to include the bankruptcy bill in the latest COVID-19 relief legislation. Congratulations Laurie and everyone that helped to make this happen!
On February 1, 2025, under the International Emergency Economic Powers Act (IEEPA), the administration is implementing 10% additional tariff on imports from China.
Originally, Canada and Mexico were to have 25% tariffs imposed, however after late meetings between the President of Mexico and the Canadian Prime Minister, news outlets are reporting there will be a 30 day pause on these potential tariffs.
More details include that goods admitted to FTZs must be admitted under privileged foreign status, no duty drawback will be allowed, and there will be no section 321, or de minimis shipments allowed for products of China.
Additional details will be shared as soon as available. As this is a fast-changing situation, all details are subject to change.
Check out our Client Advisory:
For January, we are highlighting Ivel Martinez, our Air & Ocean Manager/FTZ Administrator in the JAS Miami office. Ivel joined JAS in November 2021 and has been instrumental in helping manage the MIA Foreign Trade Zone operations. She is very meticulous in keeping records and validating inventory control.
Ivel's parents owned one of the first CFS warehouses in Miami. Ivel has been in the industry for many years and remembers typing 7512's on a huge brown typewriter.
Ivel has been happily married for 28 years and her family is extremely important to her. She has 2 sons, and 3 puppies. Ivel loves getting together with family and enjoying good food.
Ivel is yet another great example that People Make the Difference!
Census has published the Harmonized Tariff Codes that are not valid for AES filing for 2025. The US Census department issues a list of HTS codes each year that are not valid for use when filing an AES. Those numbers for January 1, 2025 are listed in the link below.
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