President Donald Trump signed an executive order Wednesday directing a broad overhaul of U.S. customs enforcement aimed at strengthening compliance with customs laws, improving duty collection, and combating fraud.
The order directs the Department of Homeland Security (DHS) and U.S. Customs and Border Protection (CBP) to increase requirements for importers, including higher bonding requirements and a requirement that importers maintain a minimum level of tangible domestic assets, bonding, or both.
“This executive order will launch a series of bold new steps that I think we as an Administration believe will result in the tightest, most controlled border in American history,” Will Scharf, staff secretary of the White House, said during the press conference….