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With rising tariffs, importers of record should proactively coordinate with their financial institutions to ensure that Customs and Border Protection (CBP) can successfully debit the appropriate duty amounts from their bank accounts.
Your bank may need to adjust the Debit Cap or remove a Debit Blocker associated with CBP debits. This action requires providing your bank with the CBP Company ID, which was originally issued in your ACH Debit Acceptance letter.
To avoid failed transactions, it is critical to:
鈥 Review ACH debit reports to monitor the amounts CBP is drawing from your account.
鈥 Confirm sufficient funds are available in your account to cover upcoming debits.
鈥 Work with your bank to raise your debit cap if the increased tariffs result in higher duty payments.
Failure to ensure adequate authorization or funding could lead to debit rejections, which may trigger the issuance of a debit voucher and possible removal from the ACH Debit program, along with potential liquidated damages.
If you're moving to your own ACH Debit Pay Types 3, 7, or 8, here are additional steps to take:
鈥 Notify your bank that CBP is authorized to debit your account.
鈥 Provide the CBP Company ID to your financial institution.
鈥 Set an adequate dollar limit on your ACH authorization to cover all expected Duties, Taxes, and Fees.
鈥 Establish a daily transaction limit with your bank that accommodates the number of charges CBP may process (especially important for Periodic Monthly Statement (PMS) participants, who may incur multiple transactions in a single billing cycle).
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On June 11, the President announced on Truth Social that the 鈥渢he deal with China is done.鈥 According to the post, the President and the President of China are working toward final approval.
The Truth Social posting by the President states that the tariffs on Chinese origin goods will be 55%. The 55% will be a combination of existing tariffs including 10% IEEPA reciprocal tariffs, 20% IEEPA drug/border tariffs, and the 25% Section 301 tariff that covers most Chinese origin goods (note some Section 301 rates are currently higher and some are lower).
Full details are not yet known.
Check out the links below:
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For June, we are highlighing Maria 鈥淐onnie鈥 Villarreal. Connie came to JAS in 2022 and found a great interest in Customs and wanted to learn more. 聽She wanted to expand her skills and take the opportunity to serve as a team leader and trainer for colleagues. 聽Connie firmly believes in embracing opportunities for growth and shows enthusiasm about exploring fresh perspectives and experiences that promote career progression.
As a spouse and parent of four children (two that have reached adulthood), Connie makes time for hobbies and family bonding. She loves to read romance and thriller books, watching movies, and spending time with her loved ones. She also cherishes opportunities to indulge in spa days with her youngest daughter and cook meals with her son.
Connie is another example that 鈥淧eople Make the Difference.鈥
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In May, JAS Forwarding (USA) Inc. Compliance team met at the USA Corporate Headquarters in Atlanta, GA. 聽During the meetings, the team worked to align on all of the trade changes and learn from each other to continue to provide positive impacts to our clients.
From Left to Right: Ted Myron, Xenia Vazquez, Leah Ellis, Calvin Oh, Margaret Christian, Casey Hughes, Laurie Arnold, Scott Cassell, and Yvette Sosa
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