Reuters has reported that U.S. lawmakers are unlikely to repeal export tax subsidies that violate global trade rules in time to avoid punitive European Union (EU) trade sanctions on billions of dollars of U.S. goods. According to Reuters, the EU plans to impose a 5% duty on more than $4 billion worth of U.S. exports beginning March 1, 2004 if President Bush has not signed legislation repealing the Foreign Sales Corporation-Extraterritorial Income (FSC-ETI) tax regime. (Reuters Pub 02/13/04, available at http://www.reuters.com/newsArticle.jhtml?type=topNews&storyID=4355783)
Customs Duty
A Customs Duty is a tariff or tax which a country imposes on goods when they are transported across international borders. Customs Duties are used to protect countries' economies, residents, jobs, and environments, by limiting the flow of imported merchandise, especially restricted and prohibited goods, into the country. The Customs Duty Rate is a percentage determined by the value of the article purchased in the foreign country and not based on quality, size, or weight.
U.S. Customs and Border Protection (CBP) has issued messages on a number of antidumping (AD) and countervailing (CV) duty actions, many of which (marked by an * in the action column) were previously published in the Federal Register by the International Trade Administration (ITA) and summarized in International Trade Today.
In the February 11, 2004 issue of the U.S. Customs and Border Protection Bulletin (CBP Bulletin) (Vol. 38, No. 7), CBP issued notices: (a) proposing to revoke two classification rulings on certain aluminum compounds and salt, (b) modifying or revoking three classification rulings on certain electronic hang tags, and (c) modifying or revoking classification rulings on men's swimwear. CBP states that it is also revoking, or proposing to revoke, any treatment it has previously accorded to substantially identical transactions that are contrary to its position in these notices.
U.S. Customs and Border Protection (CBP) has issued an ABI administrative message correcting two previously issued messages on the upcoming ABI system requirements for filing U.S.-Chile Free Trade Agreement (UCFTA) and U.S.-Singapore Free Trade Agreement (SFTA) claims.
(a) These four companies each have a de minimis AD rate (Ferrara: 0.24%, Lensi: 0.36%, Pagani: 0.21%, and Pallante: 0.12%); no cash deposits will be collected although suspension of liquidation will continue.
In the February 4, 2004 issue of the U.S. Customs and Border Protection Bulletin (CBP Bulletin) (Vol. 38, No. 6), CBP issued notices (a) revoking a classification ruling on seats for fork-lift trucks, and (b) revoking a classification ruling on flushed pigment color preparation. CBP states that it is also revoking any treatment it has previously accorded to substantially identical transactions that are contrary to its position in these notices.
U.S. Customs and Border Protection (CBP) has issued a notice to inform travelers that on or after August 12, 2004, a commercial shipment of food (except some meat, poultry, and egg products) carried by a traveler into the U.S. for which prior notice has not been provided to the Food and Drug Administration (FDA), is subject to refusal of admission to the U.S., and may be held at the port of arrival unless directed to another location. According to CBP, this requirement is mandated by what is commonly known as the Bioterrorism Act. (CBP notice available via fax by emailing staff@brokerpower.com)
U.S. Customs and Border Protection (CBP) has issued a 15-page memorandum containing its instructions on the filing and substantiation of claims for preferential tariff treatment made under the U.S.-Singapore Free Trade Agreement (SFTA).
U.S. Customs and Border Protection (CBP) has issued to the ports and posted to its Web site separate instructions regarding (1) the use of visas to make claims for duty-free treatment under the African Growth and Opportunity Act (AGOA) for qualifying textile and/or apparel articles (textile articles) from Benin that are entered, or withdrawn from warehouse, for consumption on or after January 28, 2004, and (2) quota reporting for certain apparel articles from Benin that are subject to the AGOA aggregate tariff preference level (TPL) and its sublimit.
(a) For previously reviewed or investigated companies not listed above, the AD cash deposit rate will continue to be the company-specific rate published for the most recent period.