Auto parts, components, and assemblies from Mexico, Canada, China, and South Korea were heavily impacted by IEEPA tariffs. The refund mechanism is now live.
Typical Automotive refund: $300K – $3M
Mexico — the largest auto parts supplier to the U.S. — faced a 25% IEEPA rate
Canada-sourced auto parts also carried a 25% IEEPA rate
Chinese auto electronics and components faced 24.5% IEEPA
South Korean parts were subject to a 25% IEEPA rate
A Tier 2 auto parts distributor importing stamped metal components from Mexico and electronic assemblies from China paid approximately $2.2M in IEEPA duties over 12 months. CAPE filing is expected to recover $1.9M — a transformative cash infusion for a capital-intensive business.
Yes. IEEPA tariffs were assessed separately from and in addition to USMCA preferential rates. Even goods that qualified for USMCA treatment may have had IEEPA duties assessed. We review your entries to confirm.