Tariff Evasion Bust – U.S. Customs Finds Transnational Shell Companies in Taiwan, South Korea, Indonesia and Vietnam
U.S. Customs and Border Patrol has discovered a massive network of Chinese shell companies, set up in Taiwan, South Korea, Vietnam and Indonesia, specifically to avoid U.S. tariffs.
…”Investigations into transshipping are ongoing, the CBP tells FOX Business with monetary recovery likely to grow beyond $400 million”…
Up to 250 shell companies have been identified in the Beijing network with boots on the ground going to look at manufacturing facilities in Southeast Asia that have no manufacturing activity, yet they generate products for shipment to the USA.
CBP is now on the trail of what CTH identified in January of this year with a visit to Vietnam {GO DEEP}.
ASEAN NATIONS – U.S. Customs and Border Protection has busted up a duty-evasion ring attempting to evade President Trump’s tariffs, FOX Business exclusively reports.
The CBP uncovered over $400 million in unpaid trade duties through investigations permitted under the Enforce and Protect Act (EAPA), a tactic used to police and stop illegal transshipments and other methods aimed at defrauding the U.S. government. That figure is expected to rise as the investigation deepens.
[…] A source tells FOX Business’ Edward Lawrence that one of the operations had boots on the ground in Taiwan and Indonesia to look at mattress factories and found that there was no production going on.
Additionally, over half, or $250 million, came from a network of 23 Chinese shell companies which funneled repackaged goods as if they were made in Asian nations, including South Korea, Indonesia and Vietnam, to avoid tariffs. (read more)
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