As a result of the U.S. Trade Representative’s office recently announced Section 301 import tariff exemptions for more than 100 Chinese goods, OEC Group was able to secure millions of dollars for clients in retroactive tariff refund requests between February 18 and March 7, 2020.
The reason for the high number of refunds is the proactive approach OEC’s brokerage team took to reach out to clients to determine which are eligible for tariff refunds. So far, OEC has filed thousands of requests on behalf of its clients.
The goods on the recently released, wide-ranging 301 import tariff exemption list include types of printed circuit boards, rugs and a variety of other products. Additionally, the coronavirus outbreak has also led to the U.S. government adding medical supplies such as face masks and medical gowns from China as exemptions.
“OEC expects additional exemptions to be made and will keep a close eye on the situation in the weeks and months ahead,” said Matt Haffner, Vice President of Customs Brokerage here at OEC Group. “In the meantime, we will continue to work with our clients to identify opportunities for refunds.”
The need to help clients identify and secure tariff refunds has become more prominent as the exemptions list continues to adjust through negotiations. Since clients cannot always monitor the situation, OEC Group felt it was necessary to prioritize identifying areas where customers can secure tariff refunds and save money.
“OEC is making sure that our clients are gaining every possible advantage from the tariff exemptions,” said Anthony Fullbrook, President of OEC Group. “No matter what challenges lay ahead, OEC will always try to find new ways to help our clients fulfill their goals.”