Tariff refund plans take shape as Trump administration outlines a 4-step process

Source: Yahoo Finance

The Trump administration this week outlined a four-step tariff refund process that could be ready for companies to begin using by later this spring.

The plans were included in a court filing to the US Court of International Trade from Brandon Lord, the executive director of the US Customs and Border Protection's trade policy department.

The four steps — a claim portal, a "mass processing" step, a review of refund findings, and a final step where "the refunds will be sent electronically to the designated bank account" — are currently being built, with the components 40% to 80% complete, Lord said.

The name of the system will be the Consolidated Administration and Processing of Entries (CAPE) portal. In the six-page filing, Lord expressed hope that the web-based platform will be able to process most refund requests in this "first phase of development" before more functionality is later added for more complicated scenarios.

Read more: https://www.yahoo.com/finance/news/tariff-refund-plans-take-shape-as-trump-administration-outlines-a-4-step-process-164834675.html