CBP Cites Customs Bond Insufficiencies As Importers Struggle Under Weight of Tariffs

United States Customs and Border Protection (CBP) has indicated that there’s a widespread issue with customs bonds—namely, that more companies than ever aren’t paying enough to guarantee coverage of the Trump administration’s broad and hefty tariffs. A record number of importers are not shelling out enough for customs bonds (also called surety bonds), binding contracts that ensure they will pay all required duties and fees to the federal government, according to CNBC. More from Sourcing Journal CBP told ...