CBP Seeks New Import Disclosures to Expose Hidden Supply Chains, Foreign Investment Watch

Foreign Investment Watch quoted partner Casey Weaver in an article about US Customs and Border Protection’s (CBP’s) proposed heightened import disclosure requirements, which could significantly expand the information and documentation that importers must obtain and maintain about their supply chains.

Casey explained that the proposal could shift greater responsibility to importers for foreign export documentation and other information they did not prepare.

“[M]ost importers do not currently request or maintain foreign export information that a supplier or exporter filed abroad, and many may not know whether the seller on a commercial invoice is a manufacturer, broker, trading company, consolidator, or other supply chain participant,” Casey said.

She added that potential penalties for missing or inaccurate information mean “[t]he stakes are potentially much higher for importers.”

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