A customs duty is a tariff or tax which a country imposes on goods when they are transported across international borders. Customs Duties are used to protect countries' economies, residents, jobs, and environments, by limiting the flow of imported merchandise, especially restricted and prohibited goods, into the country. The Customs duty rate is a percentage determined by the value of the article purchased in the foreign country and not based on quality, size, or weight. U.S. customs duties are listed in the Harmonized Tariff Schedule of the United States.
U.S. Customs and Border Protection (CBP) has posted to its Web site a memorandum on the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law (P.L.) 108-429), which was signed into law on December 3, 2004.
On December 3, 2004, President Bush signed into law the conference version of H.R. 1047, the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law (P.L.) 108-429).
U.S. Customs and Border Protection (CBP) has announced the 2005 tariff-rate quotas (TRQs) for agricultural products described in HTS Chapter 99, Subchapter X, U.S. Notes 3 through 12 with respect to the U.S.-Singapore Free Trade Agreement (SFTA).
On December 10, 2004, President Bush issued Presidential Proclamation 7853 in order to designate Burkina Faso as an African Growth and Opportunity Act (AGOA) beneficiary country.
U.S. Customs and Border Protection (CBP) has announced that the 2005 tariff-rate quota (TRQ) on milk and cream, fluid or frozen, fresh or sour, provided for in HTS Chapter 4, Additional U.S. Note (AUSN) 5 will open on Monday, January 3, 2005 at 12 noon E.S.T., or its equivalent in other time zones.
The Wall Street Journal (WSJ) reports that China and the Association of Southeast Asian Nations (ASEAN) have signed an agreement to create the world's biggest free-trade area, which aims to remove all tariffs by 2010 and is a critical step in their vision of creating an ASEAN Community trade bloc by 2020. (WSJ Pub 11/30/04, www.wsj.com)
On December 3, 2004, President Bush signed into law the conference version of H.R. 1047, the Miscellaneous Trade and Technical Corrections Act of 2004 (Public Law (P.L.) 108-429).
U.S. Customs and Border Protection (CBP) has announced the 2005 tariff-rate quotas (TRQs) on olives as provided for in HTS Chapter 7, Additional U.S. Note (AUSN) 5; Chapter 20, Additional Note 4; and headings in Chapter 20.
U.S. Customs and Border Protection (CBP) has issued an ABI administrative message announcing that it is issuing a "blanket" authorization to allow the release of most types of merchandise on or after December 16, 2004 through December 31, 2004 under Immediate Delivery (I.D.) procedures.
According to U.S. government sources, the 2005 printed, paper edition of the Harmonized Tariff Schedule of the U.S. (HTS) is expected to be printed later than usual this year.