AES USE EXCEEDS CUSTOMS’ EXPECTATION
A group of the country’s top 21 importers plan to present Congress this week with legislation to revise Customs’ import entry process.
When Customs proposed to change its aging import process earlier this year, the U.S. Business Alliance for Customs, which includes importers such as Wal-Mart, General Electric and DaimlerChrysler, took the lead.
“Things are moving along very quickly,” said James P. Finnegan, manager of international trade and compliance for Sony Electronics and chairman of the alliance. “We don’t want this effort to lose momentum.”
The alliance worked closely with the major industry associations, such as the National Customs Brokers and Forwarders Association of America, Joint Industry Group, American Association of Exporters and Importers, American Surety Association and Customs and International Trade Bar Association, and congressional staffers to create the legislation.
“BACM doesn’t believe in a one-size-fits-all approach for importers,” Finnegan said. “We are simply putting forth an alternative to the current entry process.”
The legislation focuses on five areas of the entry process:
* Filing minimal data for cargo release.
* Periodic filing of aggregate import information.
* Periodic payment of duties, taxes and fees.
* Reasonable correction of import data.
* Netting and off-setting of duty under-declarations and over-declarations.
Customs is also expected to gain from the legislation. “This isn’t just a benefit to the industry,” Finnegan said. “It allows Customs and other government agencies to better use their resources.”
Since the entry revision legislation requests technical changes to the Customs law, it could be included in a miscellaneous trade bill. The legislation could also be attached as a rider to another bill.