USTR Extends Several China 301 Exclusions!
The Office of the U.S. Trade Representative (USTR) has announced that the 352 exclusions from China 301 duties that were extended back on March 28, 2022, and were due to expire on December 31, 2022, have been extended for nine months. They are now due to expire on September 30, 2023. The list of exclusions includes the 81 items that were already extended on November 30,2022. The list of the reinstated exclusions was issued by the USTR in a pre-announcement of FRN language that can be found by clicking here.
CBP has Launched a Pilot for Its Global Business Identifier
U.S. Customs and Border Protection (CBP) has initiated a pilot program for the development of the Global Business Identifier. CBP will work with 13 other government agencies to test a concept of a single business identifier to help improve U.S. government’s ability to do risk assessments on international trade. Volunteers for the GBI Evaluative Proof of Concept (EPoC) will be asked to provide CBP with 3 entity identifiers: 1) Data Universal Numbering System, 2) a Global Location Number, and 3) a Legal Entity Identifier.
The GBI is being developed to replace the Manufacturer Identification Number (MID) currently used for entry that is based on algorithms that has led to duplication in the system. There are two documents to help understand this program. The first is a factsheet put out by CBP on the program and can be found here.
The second document is a Federal Register Notice that can be found on the Federal Register website.
The EPoC test began on December 19, 2022 and will run through July 21, 2023.
GSP and MTB were not Passed in the Lame Duck Session of Congress
The Generalized System of Preferences (GSP) and the Miscellaneous Trade Bill (MTB) were not included in the omnibus spending bill that was released early December 20. The omnibus package was the last legislative vehicle in the lame duck session to get these two important trade bills enacted. The Duty-free trade benefits for these two programs will have been lost for two years as of this upcoming December 31, 2022.
Rep. Vern Buchanan (R-FL) who is a leading candidate for the Chairmanship of the House Ways and Means Committee when Congress begins session again in January has said that he will aggressively move GSP in the committee if he is named the chairmen of the committee.
Reminder – New CBMA Process begins January 1, 2023
This is a reminder to importers of wine and spirits that changes to program the IRS tax benefits under the Craft Beverage Modernization Act will take effect for entries on or after Jan. 1, 2023. This includes the new requirement that the full internal revenue tax rate be paid at time of entry, with refund claims on the IRS tax filed subsequently with the Alcohol and Tobacco Tax and Trade Bureau. There are special requirements at the time of entry to qualify for the claim for the lower tax rate. CBP put a CSMS message with the reminder and instructions. It can be found by clicking here.