The Office of the U.S. Trade Representative (USTR) has issued a press release announcing that on January 19, 2006, the U.S. and Oman signed the U.S.-Oman Free Trade Agreement (FTA).
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.
At its December 1, 2005 meeting, the Departmental Advisory Committee on Commercial Operations of Customs and Border Protection and Related Functions (COAC) presented its proposal for certain "green lane" benefits for Tier 3 Customs-Trade Partnership Against Terrorism (C-TPAT) members.
The International Trade Administration (ITA) has issued the final results of its antidumping (AD) duty administrative review of folding metal tables and chairs from China for the period of June 1, 2003 through May 31, 2004.
Washington Trade Daily reports that there is a "new momentum" evidenced in this week's negotiations between the U.S. and Vietnam on the bilateral market access agreement needed for the country's World Trade Organization (WTO) membership. The expectation is that work will accelerate in the coming weeks and that the two sides will meet again soon to continue discussions. In addition, Vietnam's National Assembly is working to pass much of the legislation needed for Vietnam to join the WTO. (WTD, dated 01/19/06, www.washingtontradedaily.com )
On December 16, 2005, the House of Representatives passed H.R. 4437, the Border Protection, Antiterrorism, and Illegal Immigration Control Act of 2005 (the Border Security Bill). The following are highlights of some of the trade-related provisions of H.R. 4437.
The International Trade Administration (ITA) has issued the final results of its antidumping (AD) duty administrative review of tapered roller bearings and parts thereof, finished and unfinished, from China for the period of June 1, 2003 through May 31, 2004.
The International Trade Administration (ITA) has issued its preliminary results of an antidumping (AD) duty changed circumstances review of the AD order on certain cased pencils from China.
(a) The ITA has found an AD duty rate of zero exists; as a result, no AD cash deposit is required; however, suspension of liquidation will continue.
The International Trade Administration (ITA) has made a final affirmative antidumping (AD) duty determination that certain orange juice from Brazil is being, or is likely to be, sold in the U.S. at less than fair value.
U.S. Customs and Border Protection (CBP) has announced that the third traunche of low-duty fiscal year (FY) 2006 refined sugar tariff rate quota (TRQ) did not oversubscribe at opening moment. As a result, all entries presented at opening have been charged and may be released. (QBT 06-508, dated 01/12/06, available at http://www.customs.gov/linkhandler/cgov/import/textiles_and_quotas/qbts/qbt2006/06_508.ctt/06_508.doc.)