On April 18, 2020, the United States joined numerous other countries allowing duty deferrals through a presidential Executive Order. The duty deferment program is expected to provide economic relief for critical supply chains utilizing imported goods and experiencing significant financial hardship.
This white paper details how you can take advantage of this temporary payment flexibility and understand other key aspects of the program like the following:
- How U.S. Customs and Border Protection (CBP) defines “significant financial hardship”
- How to determine which entries are eligible
- When you should separate eligible products and shipments
- Best practices for managing duty deferrals