Tariffs on $200 billion worth of product to remain at the 10% rate
President Donald J. Trump, and President Xi Jinping of China, have just concluded what both have said was a “highly successful meeting” between themselves and their most senior representatives in Buenos Aires, Argentina. On Trade, President Trump has agreed that on January 1, 2019, he will leave the tariffs on $200 billion worth of product at the 10% rate, and not raise it to 25% at this time. China will agree to purchase a not yet agreed upon, but very substantial, amount of agricultural, energy, industrial, and other product from the United States to reduce the trade imbalance between our two countries. China has agreed to start purchasing agricultural product from our farmers immediately.
President Trump and President Xi have agreed to immediately begin negotiations on structural changes with respect to forced technology transfer, intellectual property protection, non-tariff barriers, cyber intrusions and cyber theft, services and agriculture. Both parties agree that they will endeavor to have this transaction completed within the next 90 days. If at the end of this period of time, the parties are unable to reach an agreement, the 10% tariffs will be raised to 25%. For more info, please go to https://www.whitehouse.gov/briefings-statements/statement-press-secretary-regarding-presidents-working-dinner-china/
U.S. Canada, and Mexico formally sign USMCA (From American Shipper)
President Donald Trump, Canadian Prime Minister Justin Trudeau and Mexican President Enrique Pena Nieto on Friday signed the U.S.-Mexico-Canada Agreement (USMCA), a crucial step toward the NAFTA update’s entry into force. The next steps are for the U.S. International Trade Commission to finish its report on the likely economic effects of the USMCA and submit it to Congress, which is expected in March. After receiving the report, Congress then can consider legislation to implement the agreement. For more info, please go to
https://www.americanshipper.com/news/us-canada-and-mexico-formally-sign-usmca-?autonumber=72961&source=ASDaily&utm_source=AS+Daily+Newsletter&utm_campaign=0caa587bc1-EMAIL_CAMPAIGN_2018_11_30_06_14&utm_medium=email&utm_term=0_485fa13138-0caa587bc1-62946101
CBP Issues Guidance on the Submission of Anti-reimbursement Certificates for AD Duties (From NCBFAA)
Importers are required to file a certificate advising whether they have entered into an agreement or otherwise has received reimbursement of AD duties. If an importer fails to provide a statement of reimbursement prior to liquidation, CBP will presume reimbursement and double the duties. Blanket certificates for either a 12-month period or the length of the administrative review period are acceptable. An officer of the importer must sign the certificate; a customs broker cannot sign the certificate. The certificate should be filed prior to liquidation although certificates may be presented with a CBP protest to rebut the reimbursement presumption and cancel the doubling of the duties for the failure to submit the certificate.
CBP announces procedure for importing still wines between 14% and 16% alcohol
The tax rate on still wines having over 14%, but not more than 16%, alcohol by volume imported after December 31, 2017, and before January 1, 2020, pursuant to 26 U.S.C. 5041(b)(1), as well as certain “low alcohol by volume wine” and “mead” that are temporarily eligible for the same tax rate under 26 U.S.C. 5041(h) is $1.07/liter. The applicable tax rate for these wines will be referred to in this guidance as the “$1.07 rate.” CBP has updated the Harmonized Tariff Schedule record in the Automated Commercial Environment (ACE) to accommodate the $1.07 rate. Affected importers may now claim the $1.07 rate at the time of entry summary. Because this rate does not depend upon a foreign producer assignment, the procedures and requirements discussed in CSMS message # 18-000609 to complete a CBMA claim are not applicable. For more information, please go to
https://www.cbp.gov/trade/basic-import-export/craft-beverage-modernization-tax-reform-act-2017
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