Source: S&P Global
Summary
The US Customs and Border Protection’s (CBP) web-based portal is expected to process around 60% of the 53 million import entries that were subject to the Trump administration’s tariffs, which are now defunct. According to reports, the portal will handle the majority of tariff refund requests. The CBP has been working on the portal to facilitate the refund process.
Our Reading
The trend returns with a new name.
Bureaucratic innovation is a seasonal phenomenon.
The CBP’s web-based portal is a case in point.
It’s a new tool for an old process.
The refund requests are a familiar story.
The Trump administration’s tariffs are just the latest chapter.
Author: Evan Null
