New import rules need balance, trade groups say
Dec 31, 2008 | 05:22 AM
| Diana Schwaeble
Trade groups are calling on Customs and Border Protection (CBP) to rethink new security requirements for ports that by one estimate could cost American manufacturers as much as $20 billion annually.
The CBP's Importer Security Filings (ISF) interim final rule—commonly known as the 10+2 rule—which goes into effect on Jan. 26, needs to be reevaluated due to its potential to disrupt commerce, Washington trade groups say.
The 10+2 rule is designed to ensure the security of ports and requires that importers file "10+2" additional pieces of information, with 10 data elements such as buyer/seller information, import record number, and foreign trade zone identification number, including two types of information not previously submitted. Break bulk and bulk cargo is exempt from the rule.....
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