After months of riding the tariff rollercoaster, last week we finally had a silver lining offered for the reciprocal tariffs that were announced: drawback is allowed! We are grateful that the administration has listened to the industry and is recognizing drawback as an export incentive, helping promote manufacturing here in the U.S. While we understand this is just a small relief for what importers will be paying in duties during this time, we are hopeful that claimants – both current and new – will jump at the opportunity to maximize drawback options. Here at Comstock, we are already prepared and strategizing for each individual client on how best to capture those refunds as soon as possible. That may mean a shifting of drawback methodologies or push to become more current on your drawback program. If you are a Comstock client, your account manager will be reaching out to you in the coming days to discuss the next steps.
As always, we are happy to answer any and all questions regarding drawback and your opportunities, whether you are a client or someone that’s just interested in the topic. Please contact us at any time.
