May 20, 2019
Termination of Section 232 Duties
It is important to keep in mind that CBP reviews the last 12 months of activity to determine a bond’s sufficiency. Principals that import steel and/or aluminum from Canada and/or Mexico, may not be able to reduce the limit of their C1 bond right away. A principal’s last 12 months of duties, taxes and fees must warrant the lower bond amount to avoid any insufficiency issues. As a reminder, any decrease requests may not be immediately approved as many reduced bond limits would still require Underwriting.
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