40Seas reposted this
Tariffs on, tariffs off. Things are changing rapidly and information is getting skewed. So, here’s a quick breakdown of where things stand: De Minimis has been resumed after a short closure of the provision. For goods originating from Canada and Mexico, this provision will remain open until March 4, 2025. For Chinese goods, T86 entries are permitted indefinitely for now until CBP has reviewed the provision and enacted next steps. You can also utilize Entry Type 11, which is a simplified entry procedure that allows you to clear your goods through the CBP without the need of a bond. You can use this procedure for personal or commercial shipments, as long as it doesn’t exceed $2,500 in value and if the goods are from China under Section 301 then up to $250 in value. We have been testing this entry type for the past 4-5 months with great results. As for tariffs, on February 3, Trump signed an executive order pausing the following tariffs until March 4th. Assuming no revisions are made to the executive order, on March 4, 2025, the United States will impose the following tariffs: 👉 25% on all imports from Canada and Mexico. 👉 10% on all energy imports (including oil, natural gas, electricity, and critical minerals) from Canada. We are chatting with our trade lawyers daily now about updates, so will keep you all posted on any further changes. Feel free to comment below or DM me if you have any questions, happy to help where I can.