U.S. Customs and Border Protection officials recently stated that importers who did not receive a Generalized System of Preferences SPI "A" refund by March 30, 2012 should notify the port in writing by April 18, 2012. CBP has now issued its written instructions explaining this problem, and how such notifications should occur.
The Office of the U.S. Trade Representative has changed the date and time of the hearing for the 2011 Annual Generalized System of Preferences (GSP) Review to March 29, 2012 at 1:00 p.m. (from March 20). Additionally, post-hearing comments are now due April 16, 2012 instead of April 10. The hearing will cover only the petitions for new products and Competitive Need Limit (CNL) waivers that have been previously submitted and accepted for review in the 2011 GSP Annual Review.
The Office of the U.S. Trade Representative is asking for comments by April 6, 2012 on the competitive needs limits (CNLs) for the 2011 GSP Annual review and the potential revocation of GSP benefits for certain country/tariff number pairs, the possibility of de minimis waivers for other pairs slated to lose GSP, and the possible redesignation for pairs currently ineligible for GSP. The President's decisions regarding these potential actions are expected to take effect on July 1, 2012.
Broker Power is providing readers with some of the top stories for March 5 - March 9, 2012 in case they were missed last week.
Officials at U.S. Customs and Border Protection recently stated that importers who have not received a Generalized System of Preferences SPI “A” refund by March 31, 2012 should assume that the claim “fell through the cracks” and file a written refund request by the April 18, 2012 deadline to ensure those refunds are received.
The European Union issued the following trade-related releases on March 2-6, 2012 (notices of most significance will be given separate headlines):
Broker Power is providing readers with some of the top stories for February 27 - March 2, 2012 in case they were missed last week.
The Office of the U.S. Trade Representative has released the President's 2012 Trade Policy Agenda and 2011 Annual Report. The President’s Trade Policy Agenda for 2012 offers a survey of how the Administration will support exports and two-way trade, enforcement of U.S. rights in a rules-based trading system, and through bolstered international trade relationships. It also outlines how the U.S. will partner with developing countries to expand opportunity, U.S. trade enforcement activities, among other topics.
U.S. Customs and Border Protection has reposted a 2008 Regulatory Audit1 document that provides general compliance information for importers claiming benefits under the Generalized System of Preferences (GSP) program 2. The document informs importers of the basic requirements of the GSP program and provides guidance on how to begin to structure a system of internal controls that addresses the regulatory requirements for substantiating GSP claims.
The International Trade Commission is seeking input until April 4, 2012 for its newly initiated investigation (Inv. No. 332-529) concerning possible modifications to the Generalized System of Preferences (GSP) as part of its 2011 Review, for which the U.S. Trade Representative has requested information and advice. As requested, ITC will provide advice on the likely impact of competing U.S. industries of (i) the addition of certain plastic bags under HTS subheading 3923.21.00 for all GSP-eligible countries; (ii) the addition of twelve cotton products under HTS headings 5201, 5202, and 5203 for least-developed beneficiary countries; and (iii) competitive need limitation (CNL) waivers for 9 HTS subheadings for certain countries.