President Trump signed an Executive Order on April 18 to provide additional economic support for U.S. businesses, including critical supply chains for U.S. manufacturers, during the COVID-19 pandemic.
The order gives the Administration the flexibility to allow for a 90-day deferment period on certain payments for importers who have faced a significant financial hardship due to the COVID-19 pandemic response.
Pursuant to this authority, the Treasury Department and U.S. Customs and Border Protection today are issuing a joint Temporary Final Rule.
This payment flexibility will be available only for importers with a significant financial hardship and will apply to payments for goods entered in March or April. Imports subject to duties associated with antidumping and countervailing duties (AD/CVD), and Section 201, 232 and 301 Trade Remedies are not included in this relief effort.
CBP has been working closely with the trade community throughout the COVID-19 pandemic. This order helps address many of the growing concerns raised by importers and manufacturers, by giving the Administration the flexibility to reduce the financial burden of the pandemic on American businesses affected by changes in the current supply chain. Additional details on implementation are forthcoming.
For updates on this and other initiatives, follow CBP Office of Trade on Twitter @CBPTradeGov.
