U.S. Customs and Border Protection (CBP) has posted to its Web site a notice announcing that the China safeguard quotas on cats 338/339 and 352/652 filled on July 5, 2005 at 8:30 a.m. According to CBP, the proration amounts for entries presented at the fill moment are as follows:
On June 29, 2005, President Bush issued Proclamation 7912 in order to implement certain Generalized System of Preferences (GSP) changes effective July 1, 2005; restore suspended GSP benefits for a number of India or Pakistan articles; grant GSP benefits for the country of Serbia and Montenegro; implement certain North American Free Trade Agreement (NAFTA) rules of origin changes; delineate certain Carribbean Basin Economic Recovery Act (CBERA) and Caribbean Basin Trade Partnership Act (CBTPA) benefits for footwear; treat certain members of the South Asian Association for Regional Cooperation (SAARC) as one country for purposes of GSP, etc.
The International Trade Commission (ITC) has posted to its Web site an updated version of the 2005 Harmonized Tariff Schedule of the U.S. (HTS) dated July 1, 2005 (Supplement 1).
According to sources, the International Trade Commission (ITC) is expected to post an updated version of the 2005 Harmonized Tariff Schedule (HTS) dated July 1, 2005 to its Web site during the week of July 4, 2005.
On June 29, 2005, President Bush issued Proclamation 7912 in order to implement certain Generalized System of Preferences (GSP) changes effective July 1, 2005; restore suspended GSP benefits for a number of India or Pakistan articles; grant GSP benefits for the country of Serbia and Montenegro; implement certain North American Free Trade Agreement (NAFTA) rules of origin changes; delineate certain Caribbean Basin Trade Partnership Act (CBTPA) benefits for footwear; treat certain members of the South Asian Association for Regional Cooperation (SAARC) as one country for purposes of GSP, etc.
On June 29, 2005, President Bush issued Proclamation 7912 to "modify duty-free treatment under the Generalized System of Preferences and certain rules of origin under the North American Free Trade Agreement, and for other purposes."
According to European Union (EU) sources, on June 27, 2005, the European Council (Council) adopted, with certain changes, a new Generalized System of Preferences (GSP). An EU press release explains that on June 23, 2005, a qualified majority of EU member states backed a compromise which amended certain aspects of the new EU GSP as it had been proposed. The adoption of this compromise ends a three month deadlock in the Council that had delayed the adoption of the new EU GSP.
U.S. Customs and Border Protection (CBP) has issued an ABI administrative message announcing that its most recent Harmonized System (HS) update (No. 0505) contains:
The International Trade Administration (ITA) frequently issues notices on antidumping (AD) and countervailing (CV) duty orders which Broker Power considers to be "minor" in importance as they concern actions that occur after an order is issued and neither announce nor cause any changes to an order's duty rates, scope, affected firms, or effective period.
The Wall Street Journal reports that despite the threat of steep tariffs and other trade barriers, retailers are still flocking to China to buy garments. Some hope to buy before more protectionist barriers kick in on some clothing categories. Others plan to source in China during "window periods," the time after one safeguard quota ends, and another on the same category begins. The article adds that foreign buyers should have more room to buy from China in 2006, as quotas imposed in 2006 would be calculated from a larger 12-month base, due to the sharp rise in imports during the first five months of 2005. (WSJ, dated 05/27/05, www.wsj.com )