New China Tariffs – CBP Reviewing Importer Bond Sufficiency!

New China Tariffs – CBP Reviewing Importer Bond Sufficiency!

Posted on Oct 10

Because of the increased duties for certain designated products from China, importers should review their Customs bond amounts to ensure they will be sufficient going forward.

Customs determines bond amounts to be 10% of the duties collected in a year, subject to a minimum bond amount of $50,000.00. Customs has been very active in enforcing bond amounts, and receiving a Customs notice of an insufficient bond at the time of importation can create delays and additional costs. In light of the additional Chinese duties, importers would be prudent to conduct a bond sufficiency review.

We are happy to assist you, so please contact your V. Alexander account team!