CBP Announces New GSP Refund Process, Special Section 232-Related Procedures
April 26, 2017
On April 20, 2018, U.S. Customs and Border Protection (CBP) published an update on its web site concerning its processing procedures for GSP-eligible entries under the 2018 Consolidated Appropriations Act.
Effective April 22, 2018, CBP will begin processing GSP benefits for all goods entered or withdrawn from warehouses for consumption from January 1, 2018 to December 31, 2020. In addition, the new appropriations legislation enables CBP to retroactively process refunds (without interest) to importers of record for GSP-eligible goods entered during the GSP lapse period from January 1, 2018 to April 21, 2018.
According to CBP, goods subject to the SEction 232 aluminum and steel tariffs will be ineligible for preferential treatment under the GSP, unless the exporting country was granted temporary exemption by either of the March 22, Presidential Proclamations concerning steel or aluminum imports.
For more information, please contact one of our attorneys.