The newly-passed Trade Facilitation and Trade Enforcement Act (TFTEA) covers myriad topics. Amy Magnus, Deringer’s Director of Customs Affairs and Compliance, provides a quick overview of some of its highlights. The Act was signed into law in 2016 and will have implications for US importers and exporters. Trade facilitation changes include duty drawback reforms, reduced commercial import de minimis values, and changes to HTS 9801 regulations. TFTEA mandates a more aggressive approach to compliance enforcement especially for high priority trade areas.
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