March 11, 2020
Customs by Numbers
U.S. Customs & Border Protection recently released their 2019 fiscal year Travel and Trade Report. The numbers listed in the report are staggering. Below find a summary of statistics related to trade
CBP processed 35.5 million entries valued at over $2.7 trillion (all figures mentioned in this article are specific to fiscal year 2019 unless otherwise specified). CBP collected $80.7 billion in duties, taxes and fees which included almost $72 billion in duties.
According to the report, the increase in duties collected was linked directly to the Trump Administration’s trade remedy measures under Section 201, Section 301 and Section 232 which were in in place for the entire fiscal year. Here is the breakdown of duties assessed per section: Section 201 $716 million, Section 301 goods from China $29 billion and Section 232 nearly $4 billion.
Out of the $2.7 trillion goods that were imported, $19 billion of the goods were subject to AD/CVD duties. CBP collected almost $1.9 billion in AD/CVD deposits. CBP’s entry summary reviews netted the recovery of over $121.8 million in AD/CVD duties owed. CBP enforced 33 new AD/CVD orders and by the end of the fiscal year there were 503 AD/CVD orders in effect.
The Enforce and Protect Act (EAPA) is a method CBP uses to receive and investigate allegations of AD/CVD evasion. CBP initiated 36 EAPA investigations which entailed conducting 21 foreign onsite visits or verifications in countries such as Thailand, Vietnam, Malaysia and the Philippines.
As the numbers of imports continues to grow, we can expect to see an increase in these statistics for the next fiscal year.
The report also includes information on forced labor, IPR enforcement, C-TPAT as well as updates on ACE and Blockchain. To access the entire report click here.Printable version Back to Quest News™