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These changes would result in lower import duties on certain textile fibers, chemical products, modular transporters, lawn ornaments and surgical drapes.
The White House is working to secure trade promotion authority to expedite congressional consideration of the FTAs it is negotiating with Asia-Pacific countries and the European Union, and the report’s findings could be used to counter the arguments of those who say these agreements will leave the U.S. worse off.
As part of its Single Window Initiative, the Canada Border Services Agency recently launched the Integrated Import Declaration release service option to further expand the ability of importers and customs brokers to submit and obtain electronic release for goods regulated by participating government departments and agencies.
A DOJ press release states that this is the first time a financial institution has been convicted and sentenced for violations of U.S. economic sanctions and that the total financial penalty is the largest ever imposed in a criminal case.
A total of $81.7 million in AD/CV duties was disbursed in FY 2014, up from $68.2 million in FY 2013. This allows affected trade partners to increase the amount of WTO-authorized retaliatory sanctions they impose on U.S. exports.
The Office of the U.S. Trade Representative released April 30 its annual Special 301 report on the adequacy and effectiveness of U.S. trading partners’ protection and enforcement of intellectual property rights. This year’s report reviews 72 trading partners and lists 37 of them as meriting particular concern.
Effective May 1, a European Union retaliatory tariff on women’s jeans made in the U.S. will be increased from 0.35 percent to 1.5 percent, bringing the total duty on such goods to 13.5 percent. Retaliatory duties on sweet corn, crane trucks and spectacle frames from the U.S. will see similar increases.
CBP wants COAC to help it determine if there is a path forward that would take into account the government’s security interests but also offer commercial benefits that would encourage trade community members to use ECSDs.
An April 21 meeting at World Trade Organization headquarters in Geneva illustrated that import licensing remains a key topic of concern for those involved in the global marketplace.
Legislation to expedite congressional consideration of free trade agreements, renew trade preference programs and reform customs processes continues to make its way through Congress, passing the House Ways and Means Committee on April 23.
U.S. Customs and Border Protection has issued a notice indicating concern that filers may not be fully prepared to file all electronic entries and corresponding entry summaries in the Automated Commercial Environment by the Nov. 1 deadline.
Small and medium-sized businesses that import into the U.S. are under the same obligation to comply with complex laws and regulations as large multinational corporations. Thankfully, implementing compliance measures is easier and less costly than many small business owners and managers realize.
In addition to TPA, which is generally seen as a key part of securing new free trade agreements with a dozen Asia-Pacific countries and the 28-member European Union, Senate Finance gave bipartisan support to an expansion of the Trade Adjustment Assistance program; reauthorization of the Generalized System of Preferences, the African Growth and Opportunity Act and trade preferences for Haiti; and a customs reauthorization bill.