IMPORTERS bringing goods into the US in March were improperly declaring imports that racked up hundreds of millions in duties and fees owed to the government, reports New York's FreightWaves.
According to the US Customs and Border Protection (CBP) monthly report of various trade statistics in March, CBP completed 71 audits that identified US$310 million in duties and fees owed to the US government from undervalued or improperly declared goods entering the country.
The $310 million in fees assessed to undervalued or improperly declared goods in March is a 10,590 per cent increase compared to the amount of fees assessed in February, which was $2.9 million.
The number of audits completed in March is also a 153.6 per cent increase compared to the number of audits in February.
Supply chain experts said the White House's new trade policy is finding more 'undervalued goods' being imported into the US.
'The US has traditionally audited a tiny percentage of shipments from China but the new mandate is to ramp up enforcement and of course US Customs and Border Patrol has been finding a ton of undervalued goods. Check the number for March,' ShipHero CEO Aaron Rubin posted on social media.
SeaNews Turkey
According to the US Customs and Border Protection (CBP) monthly report of various trade statistics in March, CBP completed 71 audits that identified US$310 million in duties and fees owed to the US government from undervalued or improperly declared goods entering the country.
The $310 million in fees assessed to undervalued or improperly declared goods in March is a 10,590 per cent increase compared to the amount of fees assessed in February, which was $2.9 million.
The number of audits completed in March is also a 153.6 per cent increase compared to the number of audits in February.
Supply chain experts said the White House's new trade policy is finding more 'undervalued goods' being imported into the US.
'The US has traditionally audited a tiny percentage of shipments from China but the new mandate is to ramp up enforcement and of course US Customs and Border Patrol has been finding a ton of undervalued goods. Check the number for March,' ShipHero CEO Aaron Rubin posted on social media.
SeaNews Turkey
