House Trade Subcommittee Requests that Miscellaneous Tariff and Duty Suspension Bills Be Introduced by April 28, 2005
The House Ways and Means Committee's Trade Subcommittee has issued an advisory requesting that all Members that plan to introduce tariff legislation or miscellaneous corrections to the trade laws do so by Thursday, April 28, 2005, in order that they be included in the forthcoming opportunity for public comment on these bills.
Sign up for a free preview to unlock the rest of this article
If your job depends on informed compliance, you need International Trade Today. Delivered every business day and available any time online, only International Trade Today helps you stay current on the increasingly complex international trade regulatory environment.
After collecting and reviewing bills introduced by this deadline, the Trade Subcommittee will request public comment on the bills it identifies in order to assist it in preparing the legislation. In addition, the Trade Subcommittee will request a review and analysis of each bill from the U.S. Trade Representative (USTR), International Trade Commission (ITC), and U.S. Customs and Border Protection (CBP).
Bills with revenue losses or significant controversy/opposition may not be included. The Trade Subcommittee notes that it is possible that bills that create revenue losses, operate retroactively, or attract significant controversy or opposition will not be included in a comprehensive bill incorporating these measures.
The House Ways and Means Committee states that it has been its policy that to be included in the Committee's Miscellaneous Trade Bill, a duty suspension must raise no objection, cost under $500,000 per year, and be administrable. In the event a particular bill exceeds the threshold, the Committee may redraft the bill accordingly such as by limiting the scope of the temporary duty measure, by staging the rate decreases, or by changing the bill into a duty reduction rather than complete suspension.
Subscribers should check International Trade Today's weekly summary entitled "Legislation Affecting International Trade" for the introduction of specific House and Senate tariff or miscellaneous corrections bills or BP's Online Archives where subscribers can search by bill number or subject.
Trade Subcommittee Advisory (TR-1, dated 03/10/05) available at http://waysandmeans.house.gov/Special.asp?section=1718.
BP Note
Senate sources state that the Senate currently does not plan to prepare a Miscellaneous Trade Bill.