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Ford News Flash

By Larry

If you have an interest in NAFTA, this is big news.

As you know, Customs & Border Protection has been pursuing a $42 million recordkeeping penalty against Ford for failing to produce backup documents supporting certificates of origin from a Mexican supplier. For background see this earlier post.

Earlier today, and despite winning a preliminary ruling, CBP agreed to settle the case for zero penalty from Ford. The settlement is done and a stipulated dismissal has already been filed with the District Court. According to industry sources, the only statement the government has made regarding the substance is that it is re-evaluating is policy regarding NAFTA recordkeeping.

This is tremendously good news for NAFTA importers. As I have said previously, we all owe Ford a debt of gratitude for fighting the good fight. Ford's counsel deserves congratulations as well.

Full post as published by Customs Law on December 17, 2007 (boomark / email).