The ticket exchange, freight forwarding companies, the U.S. Treasury and Customs have paused operations before implementing new tariff rates due to a sudden "malfunction." Speculation surrounds whether this is a strategic diversion or a genuine technical issue.
On Friday at 8:19 AM, the U.S. Customs and Border Protection (CBP) issued a "glitch" alert, notifying users of a problem in the system that rendered the codes used by shippers to exempt goods from entry ineffective. This affected all trade goods from countries currently under a 90-day tariff suspension implemented by the Trump administration.
Typically, importers must submit both release documents and financial paperwork when paying for freight. However, to maintain the flow of goods, U.S. Customs advised submitting the release documents first, with financial paperwork to follow once the issue is resolved.
CBP stated that users "need to promptly resubmit entry summaries that comply with transportation regulations in the Automated Commercial Environment, and submissions must be made within ten days after the release date."
Moreover, CBP assured that they would continue to ensure the collection of all tariffs due to the U.S. and would provide additional guidance to the trade community through the Cargo System Messaging Service (CSMS) as appropriate.
The glitch lasted for over ten hours, creating unprecedented chaos for U.S. importers, but ironically providing a respite for investors.
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