Federal regulations outline that in the case of an overpayment for duties, including those determined to be illegal, those payments must be returned with interest. U.S. Customs and Border Protection (CBP) outlines this interest compounds daily at an annualized rate of 4.5% for overpayments more than $10,000 and 6% on overpayments less than that.
Crucially, any refund goes to the importer of record - not the final consumer downstream. Take a simple case: You import a widget directly from overseas, pay the IEEPA tariff to clear customs, and get it released. As the importer of record, you can pursue a refund via PSC.
European laws have helped civilise the online landscape, but now we can only look on in envy at some new features launched by Apple that are not available to users here We said we wanted Big Tech to be regulated. But is it worth losing out on features and services? Maybe, maybe not. But there's now a gap opening between us and places like Britain and the US in mainstream services we can get from our tech because of new EU regulation.
"Consumers will see higher prices and potentially longer shipping times as Shein and others move from direct shipping to sending volumes of goods in containers to the USA to be re-sent from their USA-based warehousing."
Amazon's consideration to highlight President Trump's tariffs at checkout was quickly reversed after pushback from the White House and a direct call from Trump to Bezos.
If the UK's duty exemption for Low Value Imports is abolished, it would mean a pair of trainers costing £135 would be hit with the UK's full Customs duty for trainers, which is 16%. This could raise their final cost to the shopper to around £156 - a £21 increase.
