CLIFF NOTES: Week of August 21, 2019

NMFC Changes Effective August 24, 2019

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. Items such as broilers, siding, air coolers and water heaters are impacted by the latest updates. To read our blog post, click here.

S301 List 4A Tariffs Go into Effect on September 1, 2019

The Office of the USTR (United States Trade Representative) published the latest Modification of Section 301 Action on Tuesday, August 20, 2019 in the Federal Register, giving guidance on List 4A and List 4B. Additional duties of ten percent will be applied to any consumption entry or warehouse withdrawal for consumption containing Harmonized Tariffs found on List 4A effective September 1, 2019. Additional tariff 9903.88.15 will be paired with the traditional tariff and the ten percent will be in addition to the standard duty rate for said harmonized tariff. List 4B is scheduled to become effective on December 15, 2019 and affected tariffs will be paired with 9903.88.16 to calculate the additional ten percent duty. To view the notice, click here.

How to Navigate TFTEA and NAFTA Regulations During the Duty Drawback Process

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. Section 906 of TFTEA made a comprehensive set of changes to drawback claim filing. Even though TFTEA was only signed into law in 2016, it is necessary to know these recent changes since it greatly effects the drawback application process. Ascent has the knowledge and skills necessary to make sure your company complies with these new changes and follows the drawback law according to TFTEA and NAFTA regulations. To read more on our blog, click here.

Statistic of the Week

23.5 Percent

The projected percentage of population of adults age 65+ in the year 2035, according to the United States Census Bureau. This is the first time in U.S. history that senior citizens are projected to outnumber children under 18. Fun fact: August 21, 2019 is National Senior Citizens Day. To view more statistics, click here.

Links of the Week

Truck Tonnage Surged 7.3 Percent in July 2019

U.S. Average Diesel Price Falls 1.7 Cents

FMCSA Announces Dates for HOS Public Hearings

Upcoming Events

Catch up with the Ascent Global Logistics team at the below upcoming events:  

NATIONAL FIREWORKS ASSOCIATION EXPO
Branson, MO – September 8-13, 2019

2019 NAFA ANNUAL CONVENTION
Montreal, QC – September 11-13, 2019

International Holiday Calendar

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