The de minimis footnote within the U.S.-Mexico-Canada Agreement is cause for "serious concerns" for the Customs Matters and Trade Facilitation Industry Trade Advisory Committee (ITAC 12), the committee said in an addendum to its report on the trade deal. The addendum, which is dated Oct. 24 but was released by the Office of the U.S. Trade Representative this week, is among multiple reports updated after Canada agreed to join the deal between the U.S. and Mexico. While the main advisory committee offered some light criticism in its support of the deal (see 1811060023), individual ITACs included some more pointed concerns.
Drawback
A duty drawback is a refund by CBP of the duties, taxes, or fees paid on imported goods, which were imposed upon importation as prescribed in 19 U.S.C. 1313(d). More broadly, a drawback also includes the refund or remission of other excise taxes pursuant to other provisions of law.
International Trade Today is providing readers with some of the top stories for Oct. 29 - Nov. 2 in case they were missed.
CBP issued the following releases on commercial trade and related matters:
CBP’s final regulations on new procedures for drawback under the Trade Facilitation and Trade Enforcement Act are now at the Office of Information and Regulatory Affairs for review, according to the Office of Management and Budget website. CBP is required to issue the final rule by Dec. 17 as a result of a Court of International Trade decision on the regulations (see 1810120055). A CBP lawyer earlier this week said CBP and the Treasury Department recently finished a review of the comments (see 1810310030). A proposed rule on copyright protections for imported goods to be implemented under TFTEA is also under OIRA review, according to another notice.
Final regulations on drawback under the Trade Facilitation and Trade Enforcement Act are now being developed to meet the court-ordered Dec. 18 deadline for those rules (see 1810120055), said Emily Simon, a lawyer with CBP who spoke during an Oct. 31 conference call about drawback. CBP received comments on its proposed rules in September (see 1809190005). "We have indeed reviewed those in depth as part of the adjudication process" and CBP and Treasury have been "working extensively to prepare that final rule, which is in process right now," Simon said.
CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
CBP issued the following releases on commercial trade and related matters:
The Treasury Department published its fall 2018 regulatory agenda for CBP. The agenda includes one new rulemaking involving the Craft Beverage Modernization Act. The agency will try to issue an interim final rule by December this year that "eliminates a restriction pertaining to CBP’s authority to refund excessive duties, taxes, fees, or interest imposed on distilled spirits, wine, and beer," it said.
CBP must issue final regulations on drawback under the Trade Facilitation and Trade Enforcement Act by Dec. 17, 2018, the Court of International Trade said in an Oct. 12 decision. Capping a contentious case brought by a set of customs brokers and importers (see 1803260048), CIT Judge Jane Restani ordered that the final regulations must take effect immediately on Dec. 17, except for certain excise tax drawback provisions that may take effect 60 days later.