|April 9, 2021|
|The discussions taking place in Congress as the beginnings of an infrastructure bill take shape should be of importance to all companies engaged in trade. Regardless of your politics, the opportunity for the government to invest this much money to improve bridges, roads, ports, trains and airports should be cheered. We’ve seen the impact over time of what happens when roads close, bridges collapse and containerships wait weeks for their turn to unload. Sufficient investment in all these places lowers costs, speeds goods to market and makes good business sense.|
|There’s a Bourbon Caucus. And they want their duties removed.|
Suspension of duties from large aircraft dispute didn’t cover all exports.
While many American liquor imports (and corresponding imports) saw the trade remedy duties imposed on them suspended while the US separately negotiates with the EU and the UK over the Boeing / Airbus dispute, bourbon distillers and exporters are concerned that their duties will increase in June. The reason for this is that their products were penalized when the prior administration imposed Section 232 steel and aluminum duties on the EU. Hoping to stave (a little barrel humor there) off that increase this summer, the bi-partisan co-chairs of the Congressional Bourbon Caucus sent a letter to USTR Tai seeking help in finding a way out of the dispute which sees the duties doubling from the current 25% to 50% on June 1st.
2-1 CIT decision opens door to relief from 232 duties for certain steel and iron articles
The Court of International Trade ruled in favor of the plaintiff in litigation against the government that the imposition of 25% and 10% duties on steel and aluminum items, respectively, was imposed outside the time limit of the statute and directed the cases in question to be liquidated with refunds and if already liquidated, refunded with interest.
Every importer and exporter around the world is feeling the pain of not just delays in their supply chain but soaring costs from freight rates as well as punitive fees assessed for demurrage and detention charges. The FMC met behind closed doors on Wednesday to discuss the latter under the leadership of newly-designated Chairman Daniel B. Maffei who was elevated to the position by President Biden last week.
CBP informed local ports of entry that they are authorized to seize imports of disposable gloves manufactured by Top Glove Corporation Bhd in Malaysia following publishing of a finding in the Federal Register on March 29th. Alba has deep experience with FDA and disposable glove entries and if your company is concerned about whether or not they are affected, contact your Alba representative by email to discuss potential exposure to this WRO.
A minimum global corporate tax could resolve the thorny digital tax issue.
US Treasury Secretary Janet Yellen made remarks earlier this week calling for a minimum global tax to discourage companies from seeking lower tax havens around the planet. Her planned minimum 21% met with approval from France’s Finance Minister and could pave the way for an agreement with the OECD.
- Posted by Joe DeSilvetri
- On April 9, 2021
- 0 Comments