Both versions of the draft Korea FTA bills approved during the July House and Senate Committee mock mark-ups of the three pending free trade agreements would increase the merchandise processing fee (MPF) on formal entries by more than 60%. If enacted, such a large increase would result in hundreds of millions of dollars in additional MPF payments by importers.
Broker Power is providing readers with some of the top stories for July 11 - 15, 2011 in case they were missed last week.
The following are highlights of the House Ways and Means Committee's section-by-section summary of the draft U.S.-South Korea (KORUS) Free Trade Agreement Implementing Act, which would establish the necessary conditions for the FTA to enter into force.
The following are highlights of the House Ways and Means Committee's section-by-section summaries of the draft U.S.-Colombia, and U.S.-Panama Trade Promotion Agreements Implementing Acts, which would establish the necessary conditions for the free trade agreements to enter into force.
On July 7, 2011, the House Ways and Means and Senate Finance Committees held “mock” mark-ups and approved without amendment draft implementing bills for the Korea, Colombia, and Panama free trade agreements, which also include an increase in the merchandise processing fee for formal entries and retroactive renewal of the Generalized System of Preferences (GSP) and Andean Trade Preference Act (ATPA)/Andean Trade Promotion and Drug Eradication Act (ATPDEA) preference programs.
Broker Power is providing readers with some of the top stories for July 5 - 8, 2011 in case they were missed last week.
On July 8, 2011, the International Trade Commission launched an investigation1 to assess the probable economic effect of allowing products from the world's least-developed countries (LDCs) to enter the U.S. duty-free and quota free (DFQF).
On July 7, 2011, the House Ways and Means and Senate Finance Committees held “mock” mark-ups and approved without amendment1 draft implementing bills for the Korea, Colombia, and Panama free trade agreements, which include an increase in the merchandise processing fee for formal entries and retroactive renewal of the Generalized System of Preferences (GSP) and Andean Trade Preference Act (ATPA)/Andean Trade Promotion and Drug Eradication Act (ATPDEA).
The Senate Finance Committee has rescheduled for July 7, 2011 its “mock” mark-up of the draft implementing bills for the South Korea, Colombia, and Panama free trade agreements, which include a retroactive renewal of the Generalized System of Preferences (GSP), Andean Trade Preference Act (ATPA)/Andean Trade Promotion and Drug Eradication Act (ATPDEA) and a modification and renewal of Trade Adjustment Assistance.
Broker Power is providing readers with some of the top stories for June 27 -- July 1, 2011 in case they were missed last week.