TFTEA Drawback Regulations Move Forward After Lengthy Treasury Review

CBP’s proposed regulations on new procedures for drawback under the Trade Facilitation and Trade Enforcement Act are now at the Office of Management and Budget for review, according to the OMB website. The long-awaited rulemaking had been held up for months while the Treasury Department reviewed its provisions (see 1710040050 and 1802020053). OMB says it received the regulatory package on April 6. A recent court challenge seeks to compel CBP to issue the overdue regulations (see 1803260048), which under TFTEA were due Feb. 24.