Volumes set to 'fall off a cliff' as US firms hit the brakes on sourcing and bookings
Cargo owners should brace for a “cliff event” similar to the turmoil in the early ...
© Vitalij Sova
By Alex Lennane
US customs brokers and importers have been scrambling to revise monthly statements after the US government announced they could postpone duty, taxes and fees for 90 days.
The executive order, signed on Sunday, temporarily extends deadlines for importers “suffering significant financial hardship” and was closely followed by a detailed explanation by Customs & Border Protection (CBP).
It noted: “This temporary postponement applies to formal entries of merchandise entered, or withdrawn from warehouse, for consumption (including entries for consumption from a foreign trade ...
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