Last Sunday, the Treasury Department and U.S. Customs and Border Protection announced a rule delaying payment of tariffs on certain goods coming into the US for 90 days. The announcement indicated the U.S. importer seeking a 90-day delay must “demonstrate a significant financial hardship” and also must have work operations that are “fully or partially suspended during March or April 2020 due to orders from a competent governmental authority limiting commerce, travel, or group meetings.”
While providing some relief to importers, the announcement was not a complete tariff delay for all imports as was sought by retailers. Other noticeable exceptions to the 90-day delay included steel and aluminum imports from China along with antidumping and countervailing duties.
If you are interested in seeing if your company is able to defer duty payments, contact experienced trade attorney David Hsu by phone/text anytime to 832-896-6288 or by email at email@example.com.