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ITA Proposes to Extend Steel Import Permit Scheme Until 2017
November 9, 2012 by Brian Feito|Commerce Dept.

The International Trade Administration is proposing to extend until 2017 its program to monitor and require permits from importers of steel products. The ITA Steel Import Monitoring and Analysis system was originally implemented in 2002 as part of a safeguard imposing temporary tariffs on steel products. The safeguard was lifted in 2005, but the monitoring and permitting was extended that year, and again in 2009. The program is currently set to expire on March 21, 2013. The ITA’s proposed rule would extend it for four more years until March 21, 2017. Comments are due by Dec. 13.

Census Reports Rise in Exports & Imports in September, Fall in Deficit
November 8, 2012 by Brian Feito|Commerce Dept.

Imports were up, but exports increased even more in September, leading to a $2.3 billion reduction in the U.S. goods and services deficit to $41.5 billion, said the Census Bureau and Bureau of Economic Analysis in their U.S. International Trade in Goods and Services Report for September 2012. The report showed that, as compared to revised August 2012 levels, exports were up $5.6 billion to $187 billion, and imports were up $3.4 billion to $228.5 billion. As compared to September 2011 totals, exports increased by 3.5 percent and imports by 1.5 percent. The U.S. trade deficit with China widened to $29.1 billion in September, from a revised $28.7 billion in August.