Ascent Global Logistics Blog
With varying regulations governing the disclosure (Freedom of Information Act) or confidentiality (Department of Homeland Security) of certain records, it can sometimes be challenging to know who has access to what information in the international world of trade.
The highly anticipated Federal Register notice was published today, confirming that “List 4A” of the S301 will go into effect on September 1, 2019 at the rate of 15 percent for the products of China covered by the $300 billion tariff action.
In an announcement on Friday, August 23, 2019, the USTR (United States Trade Representative) advised that Section 301 List 3 tariffs will be increasing from 25 percent to 30 percent effective October 1, 2019, following a notice and comment period.
The Trade Facilitation and Trade Enforcement Act of 2015 (TFTEA) is an authorization of CBP’s trade authority and was enforced to create an environment for fair, honest and competitive trade in the United States.
Duty drawback can be a great opportunity for companies to save on duties, but to utilize it to its full extent it is necessary to understand the intricacies of the program.
On August 5, 2019 the USTR (United States Trade Representative) announced that product exclusions have been approved for S301 List 3 duties. The product exclusions are broken into ten new product-specific descriptions such as certain plastic containers, pet cages, shopping carts and inflatable kayaks and boats.
Over 1,200 members of the trade community including importers, exporters, customs brokers, forwarders, carriers and various supporting businesses descended on Chicago July 22-24, 2019 to hear from the top leadership of the U.S.
Supplement 2 from the Commodity Classification Standards Board (CCSB) was posted on July 25, 2019. This notice lists various changes to National Motor Freight Classification (NMFC) standards and packaging rules that will go into effect on August 24, 2019.
Duty drawback is a Customs and Border Protection (CBP) program where companies are refunded up to 99% of customs duties, taxes and/or fees that were previously levied upon imported merchandise, and of internal revenue taxes paid on domestic alcohol as well as other excise taxes.