As we come to a close in 2020, there are three things of note which may increase duties on goods being imported into the U.S.
- The Generalized System of Preferences (GSP) is set to expire on December 31, 2020.
U.S. Customs and Border Protection (CBP) provided guidance on filing entries should GSP not be renewed by the end of the year.
CBP recommends the trade continue filing entries with the GSP Special Program Indicator (SPI) of A, A+, and A*, but remit payment of duty. This will ease in recovering any duties should GSP be renewed retroactively and is what CBP did when GSP last expired on December 31, 2017.
- Temporary duty reductions under the Miscellaneous Tariff Bill (MTB) are set to expire on December 31, 2020, under Harmonized Tariff Schedule (HTS) of 9902, unless Congress approves the International Trade Commissions (ITC’s) Final Recommendation
- A good majority of China Section 301 exclusions expire near year end
December 28, 2020 at 11:59 pm
– Exclusions for List 1, Tranche 1 products will expire under HTS 9903.88.05.
December 31, 2020 at 11:59 pm
– Exclusions for List 1, Tranche 4 – 8 products will expire under HTS 9903.88.08, 9903.88.50, 9903.88.52, 9903.99.58, & 9903.88.60.
– Exclusions for List 2, Tranches 1 – 3 products will expire under HTS 9903.88.54, 9903.88.59, & 9903.88.61.
– Exclusions for List 3, Tranches 1 -14 products will expire under HTS 9903.88.56.
– Exclusions for List 4A, Tranches 1 – 7 products will expire under HTS 9903.88.57
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