CBP Notice on GSP Refunds Coming Soon, Says USTR
CBP will publish a notice in July detailing Generalized System of Preferences (GSP) renewal and how importers can secure refunds, said the Office of the U.S. Trade Representative (USTR) (here). "Importers should be advised that duties collected may take up…
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to 90 days after liquidation or reliquidation of entries to process and refund retroactively," USTR said. The House passed retroactive GSP renewal legislation on June 25, requiring CBP to reimburse importers for tariffs on all goods traded in the interim since GSP expired in 2013 and President Obama signed the GSP renewal into law on June 29 (see 1506290045).