CIT Steps Into Spat Over Bonding Arrangement in Section 232 Case
The Court of International Trade in an Oct. 21 opinion ruled in a dispute over whether exporter Oman Fasteners should post bond or cash deposits to secure payment of Section 232 steel and aluminum duties in a case on the…
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validity of the national security tariffs. A previous court order let Oman Fasteners stop making duty deposits after reaching an agreement with the U.S. on the resumption of bonding. The U.S. said that the company wasn't entitled to bonding since it had failed to abide by the arrangement. A three-judge panel ruled that the U.S. shall exclude Oman Fasteners from the need to post cash deposits for potential Section 232 liability until the U.S. can get another order from the court or Oman Fasteners voluntarily enters into an agreement that modifies the terms of the court's opinion.