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.
House Ways and Means Committee Trade Subcommittee Chairman Adrian Smith, R-Neb., said he thinks the chances are good for renewing the Generalized System of Preferences benefits program in 2024, due to bipartisan interest in the legislation. "A lot of members have examples from their district of why we need GSP." He added that a three-year lapse of the benefit program is "inexcusable."
The International Trade Commission posted the 2024 Basic Edition of the Harmonized Tariff Schedule. The new HTS implements the restoration of AGOA benefits for Mauritania and their removal for the Central African Republic, Gabon, Niger and Uganda, as well as a lengthy list of 10-digit-level changes for fruits and vegetables, chemicals, medicaments and recycled aluminum. Changes were effective as of Jan. 1 unless otherwise noted.
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 recent extension of over 400 Section 301 exclusions (see 2312260011) won’t be implemented in ACE until Jan. 4 at 7 a.m. EST, CBP said in a CSMS message. That means the exclusions will still expire in ACE on Jan. 1, despite the extension until May 31. Importers that enter goods that qualify for the extended exclusions between Jan. 1 and their implementation in ACE on Jan. 4 should file a post-summary correction on or after Jan. 4 “to obtain a refund of duties paid,” CBP said.
The Office of the U.S. Trade Representative is extending 77 COVID-19 related tariff exclusions as well as the 352 Section 301 exclusions that were restored in March 2022. Both sets of exclusions were set to expire Dec. 31; now they will last through May 31.
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.
Eliminating permanent normal trade relations (PNTR) with China would “leave a lasting scar” on the U.S. economy, costing each U.S. household $11,000 in real income over the period 2024 to 2028 and reducing competition and efficiency over the long term, according to a report released by the U.S.-China Business Council on Nov. 9.
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 Office of the U.S. Trade Representative is extending 77 COVID-19-related tariff exclusions as well as the 352 Section 301 exclusions that were restored in March 2022. Both sets of exclusions, which were to expire at the end of September, will last through Dec. 31.