Dear Valued Customer:
President Trump Signs Omnibus Bill including GSP Renewal on March 23, 2018
President Donald Trump has signed the Omnibus Spending bill today, March 23, 2018, which included the GSP renewal bill as approved by the Senate in February .
The bill:
officially renews the GSP program through December 31, 2020;
refunds tariffs paid from January 1, 2018 through the reinstatement date;
changes the annual review announcement date from July 1 to November 1;
updates some dates related to “competitive need limit” (CNL) reviews, and
requires USTR to submit an annual report to the trade committees on country-eligibility criteria.
The House passed the bill yesterday afternoon and the Senate followed late last night/early this morning and the President signed the bill today.
GSP reinstatement means that Administrative processes – such as the GSP Annual Review conducted by the Office of the U.S. Trade Representative – will restart as well.
Customs & Border Protection is expected to announce details very soon on their procedures for GSP refunds and also when they expect their system to be ready to accept GSP eligible entries without the deposit of duties. Importers may wish to withhold clearance of shipments arriving next week until the date is known when entries can be filed without depositing the payment of duties to avoid waiting for a refund, if there is sufficient free time at the port to delay clearance.
Duties will be automatically refunded for all GSP eligible Customs entries filed January 1 to present that were flagged with the GSP Special Program Indicator.
In the event that any GSP eligible entries were not flagged at the time of entry, written requests must be submitted within a yet-to-be-announced specified timeframe including all supporting documentation to justify a refund.
Thank you for your attention and cooperation. If you have any questions, please contact your nearest JJB representative.
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