CBP Releases Proposed Rules for Drawback
CBP released its proposed rulemaking for updated drawback regulations under the Trade Facilitation and Trade Enforcement Act. The long-awaited rulemaking had been held up for months while the Treasury Department and Office of Management and Budget reviewed its provisions.
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The rules are scheduled for publication in the Federal Register on Aug. 2, with comments due 45 days after that.
A Court of International Trade judge recently ruled that the government missed a statutory deadline for issuing the regulations as part of a lawsuit over whether CBP is improperly not processing requests for accelerated payment. Lawmakers also recently called on the agencies to quickly move forward with the regulatory proposal.