CBP issued the following releases on commercial trade and related matters:
Drawback
A duty drawback is a refund by CBP of the duties, taxes, or fees paid on imported goods, which were imposed upon importation. More broadly, a drawback also includes the refund or remission of other excise taxes pursuant to other provisions of law. CBP's duty drawback scheme under the Customs Act of 1962 allows exporters to receive a refund on customs duties they paid on imported products that are then used or incorporated into other products for export or remain unused until importation.
Tin-plated brass strips imported by Cooper Plating and then made into plumbing parts before being exported are eligible for temporary importation under bond under subheading 9813.00.05, CBP said in a recent ruling. However, while they undergo the required processing to qualify for TIB treatment, they are subject to the USMCA "lesser of duty rule" for similar reasons, CBP said.
CBP issued the following releases on commercial trade and related matters:
CBP released a new guidance document Feb. 12 on how the agency sets bond amounts, replacing the bond directive it issued in 1991 with a new "Guide for the Public" that the agency has said will accompany a revised internal directive on bonds (see 2309150061).
CBP issued the following releases on commercial trade and related matters:
The following lawsuits were filed at the Court of International Trade during the week of Jan. 29-Feb. 4:
International Trade Today is providing readers with the top stories from last week in case they were missed. All articles can be found by searching on the titles or by clicking on the hyperlinked reference number.
The Court of International Trade on Jan. 30 said that for drawback purposes the 10-digit Harmonized Tariff Schedule subheadings should be read starting with their directly adjacent text and not the superior indented text. Judge Claire Kelly said the "plain meaning" of the statute governing substituted unused merchandise drawbacks refers to the "words describing the article adjacent to the 10-digit number."
The House of Representatives voted 403-9 to create a position of global trade specialist, consolidating several existing positions, including import specialist and drawback specialist.
A bipartisan House bill to consolidate CBP positions is scheduled to get a vote this week. Introduced by Reps. Michelle Steel, R-Calif., and Jimmy Panetta, D-Calif., the measure would eliminate job descriptions of import specialist, entry specialist, national account manager, international trade specialist, drawback specialist and national import specialist, consolidating those duties under the job of global trade specialist. The bill previously passed out of the Ways and Means Committee unanimously (see 2311070066).