Finanse publiczne · 06/12/2012

U.S. Customs and Border Protection to Increase Informal Entry Limit and Remove Formal Entry Requirement for Certain Merchandise

The U.S. Customs and Border Protection (CBP) is increasing the informal entry limit for merchandise valued over $2,500, eliminating the need for a surety bond and reducing the required Merchandise Processing Fees (MPF) to $2, in an effort to mitigate the effects of inflation and meet a commitment with Canada under the Beyond the Border Initiative. This change also removes the formal entry requirement for certain articles previously subject to absolute quotas under the Agreement on Textiles and Clothing.