On December 3, 2004, President Bush signed into law the conference version of H.R. 1047, the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law (P.L.) 108-429).
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.
The International Trade Administration (ITA) has issued the preliminary results of its antidumping (AD) duty changed circumstances review of Sebacic Acid from China. The ITA has preliminarily determined that Tianjin has resumed dumping of sebacic acid produced by Hengshui during the July 1, 2002 through June 30, 2003 period of review, as alleged by a domestic interested party.
The International Trade Administration (ITA) has initiated a new shipper review for the antidumping (AD) duty order on brake rotors from China with respect to the following companies (each of which is a producer and exporter of subject merchandise from China) and review period:
According to ShippersNewsWire, in recently released figures from U.S. Customs and Border Protection (CBP), as of November 15, 2004, 127 importers were in the Periodic Monthly Statement (PMS) program, and had paid $126.5 million in duties and fees on 27,777 import entries. (ShippersNewsWire@americanshipper.com, dated 12/06/04)
On December 3, 2004, President Bush signed into law the conference version of H.R. 1047, the Miscellaneous Trade and Technical Corrections Act of 2004.
U.S. Customs and Border Protection (CBP) has posted to its Web site a comparison of various trade agreements and trade programs. The trade agreements/programs compared in the document are the North American Free Trade Agreement (NAFTA), the Singapore FTA (SFTA), the Chile FTA (UCFTA, or CFTA), and the Generalized System of Preferences (GSP).
U.S. Customs and Border Protection (CBP) has issued a final rule (CBP Dec. 04-40), effective December 30, 2004, which adopts with minor changes two interim rules (T.D. 01-74 and CBP Dec. 03-29) regarding standards for preferential treatment for brassieres imported under the U.S.-Caribbean Basin Trade Partnership Act (CBTPA).
The International Trade Administration (ITA) is amending its 1999 final affirmative antidumping (AD) duty determination on stainless steel sheet and strip in coils from Taiwan, as there is now a final and conclusive court decision affirming the ITA's remand determination for this litigation.
The ITA states that if it does not receive, by the December 31, 2004 deadline, a request for the review of entries covered by an AD or CV duty order or suspended investigation listed above for the identified review period, it will instruct U.S. Customs and Border Protection (CBP) to assess AD or CV duties on those entries at a rate equal to the cash deposit of (or bond for) estimated AD or CV duties required on those entries at the time of entry, and to continue to collect the AD or CV cash deposit previously ordered.
On November 19, 2004, the Senate passed the conference version of H.R. 1047, the Miscellaneous Trade and Technical Corrections Act of 2004. The House passed the conference version of H.R. 1047 on October 8, 2004. The conference version of H.R. 1047 has now been cleared for the White House.