financetom
Business
financetom
/
Business
/
SEKO wins conditional reinstatements from US customs agency
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
SEKO wins conditional reinstatements from US customs agency
Jun 4, 2024 5:43 PM

LOS ANGELES, June 4 (Reuters) - Privately held SEKO

Logistics said U.S. Customs and Border Protection (CBP) has

conditionally reinstated its participation in two vital

international trade programs, but still has not identified the

violations that led to the suspensions.

The Illinois-based customs broker, which is seeking

unconditional reinstatements, said on Tuesday that CBP has yet

to provide any evidence or examples of compliance issues to

justify its actions.

"The agency's lack of a direct response in this matter has

led to a clear and present danger to SEKO's business, its

reputation and its clients," SEKO said in a statement.

CBP could not be immediately reached for comment.

The industry is monitoring the dispute since it is unusual

for customs brokers to be targeted in CBP crackdowns.

On Friday, the CBP announced that it had suspended multiple

customs brokers from its "Entry Type 86" expedited customs

clearance program to prevent abuse of the tariff exemption for

direct-to-consumer imports valued at under $800 per day.

Chinese-founded Shein, PDD Group's Temu and

ByteDance's TikTok Shop use the tariff exemption when they ship

products directly from factories in China to U.S. shoppers in

individually addressed packages.

"We are incredibly disappointed by, and strongly disagree

with, the original decision by CBP," said SEKO CEO James Gagne,

who added that the company maintained a "99.999+%" compliance

rate in the expedited clearance program.

CBP on Friday said the suspended brokers' entries "posed

unacceptable compliance risk" and that "bad actors" were

exploiting the tariff exemption to send contraband, including

materials used to make synthetic drugs like fentanyl, into the

United States. The agency did not say whether shippers were

undervaluing or misclassifying shipments.

SEKO has also said that CBP suspended it from the agency's

Customs Trade Partnership Against Terrorism (CTPAT) security

program that many large shipping customers rely on.

SEKO on Saturday filed a lawsuit in the U.S. Court of

International Trade, seeking to stop the suspensions and win

full reinstatements.

SEKO also alleged that CBP failed to give the company

adequate notice of the suspensions or an opportunity to address

any unverified deficiencies identified the agency.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
GRAPHIC-EVs could overtake petrol cars in Norway by end-2024
GRAPHIC-EVs could overtake petrol cars in Norway by end-2024
Apr 2, 2024
* 9 out 10 new cars sold in January were pure electric * BEVs account for about a quarter of total car fleet * Norway's income from oil, gas helped subsidise BEV adoption * Norway aims to end sale of new petrol, diesel cars in 2025 By Nerijus Adomaitis OSLO, April 2 (Reuters) - The number of battery electric vehicles...
Market Chatter: Scotiabank Strategist Details Tough Start to 2024 For Dividend Investors
Market Chatter: Scotiabank Strategist Details Tough Start to 2024 For Dividend Investors
Apr 2, 2024
09:01 AM EDT, 04/02/2024 (MT Newswires) -- In a daily roundup of research and analysis from The Globe and Mail's market strategist Scott Barlow, Scotiabank strategist Hugo Ste-Marie is cited as highlighting a difficult first quarter for domestic dividend strategies: After a challenging 2023, dividend strategies continue to struggle so far this year...while all four dividend ETFs we track [ishares...
Alibaba makes biggest ever quarterly share repurchase worth $4.8 billion
Alibaba makes biggest ever quarterly share repurchase worth $4.8 billion
Apr 2, 2024
(Reuters) - Chinese e-commerce giant Alibaba Group ( BABA ) said it had bought back $4.8 billion worth of shares in the quarter ended March, its highest ever since listing, a couple of months after boosting the stock buyback plan by $25 billion through March 2027. (Reporting by Aaditya Govind Rao in Bengaluru; Editing by Arun Koyyur) ...
Oil Rises to the Highest Since October on Tight Supply and Fears of a Wider Middle East War
Oil Rises to the Highest Since October on Tight Supply and Fears of a Wider Middle East War
Apr 2, 2024
09:00 AM EDT, 04/02/2024 (MT Newswires) -- Oil rose to the highest in more than five months early on Tuesday as supply remains tight amid signs of rising demand and geopolitical turmoil. West Texas Intermediate crude for May delivery was last seen up US$1.28 to US$84.99 per barrel, the highest since late October, while June Brent crude, the global benchmark,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved