On June 3, U.S. President Donald Trump signed executive order that seeks to tighten U.S. customs enforcement to crack down on trade fraud<\/p>\n
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WASHINGTON, D.C. \u2014 Many Canadian exporters who have traded duty-free under the Canada-United States-Mexico Agreement are facing the threat of 50 per cent duties on their goods under Section 338 tariffs, which Washington is set to impose on hundreds of products starting August 19.<\/p>\n
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These firms may also need to increase their customs-bond coverage, which guarantees payment of duties and fees if an importer defaults, as higher tariffs increase the U.S. government\u2019s exposure.<\/p>\n
But trade lawyers and customs professionals say another change could affect far more Canadian exporters.<\/p>\n
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