The Caribbean Basin Trade Partnership Act (“CBTPA”) is an Act of U.S. legislation which expired on October 1, 2020. The CBTPA sought to strengthen Caribbean basin economies by extending preferential trade and tariff treatment and increase U.S. export opportunities in those countries. Upon the expiration of the CBTPA at midnight on October 1, 2020, importers may not file otherwise CBTPA-eligible without the payment of duties and other fees set at normal trade relation duty rates.
Are you interested in e-Commerce? Have a desire to go to Vegas?
Diaz Trade Law founder Jennifer Diaz will be speaking at the upcoming Massconversions Live e-Commerce conference in Las Vegas, Nevada. Jennifer’s presentation will focus on the TOP 10 Tips to Comply with Customs When Buying Online. Attendees will, by the end of her presentation, know and understand the importance of:
• Tariff classification
• Customs valuation
• Country of origin marking
• Intellectual Property Rights (IPR) Protection and CBP Enforcement
• Free Trade Agreements (FTAs)
Attendees will also learn basic customs concepts and terms like:
On Monday, President Obama signed Trade Promotion Authority (TPA) into law. TPA, also known as the “fast track” bill, was seen as a crucial component in solidifying the Trans-Pacific Partnership (TPP). Although the re-authorization of TPA grants the President greater authority in his ability to negotiate and secure a trade deal–thus speeding up the TPP negotiation process–the TPP still has some tough negotiations ahead. However, the new authority Congress granted the President will now give him the power needed to ultimately conclude negotiations on the TPP.
For those of you that relied on the Generalized System of Preferences (GSP) and are now subject to duties, CBP sent a notice today that directly impacts you.
A previous post discussed the expiration of GSP and need for congressional action to renew it. GSP expired July 31, 2013. Importers were advised to continue to use the Special Program Indicator (SPI) “A” when importing into the U.S., which would signify a valid claim for GSP but to pay duty subsequent to that date, so that in the event of a retroactive renewal, CBP could process refunds automatically.
Unfortunately, the picture above is still correct – the trade community is in limbo – will we get our duties refunded if we are entitled to GSP? The answer… Yes, Maybe, No. Not comforting or reassuring.
Today, CBP advised the trade community that:
July 31, 2013 is the date when the expiration of the Generalized System of Preferences (GSP), Andean Trade Preference and Act (ATPA) and the Andean Trade Promotion and Drug Eradication Act (ATPDEA) will take place. Read on to ensure that you get your refunds expeditiously when/if GSP is renewed, likely after July 31, 2013.
On December 4, 2012, I will address companies in Bogota, Colombia to discuss the Top 10 Tips When Importing into the U.S. to Ensure Compliance. My particular topic will go into depth on the top costly mistakes I've seen importers make, and most importantly, how to avoid them. I will go into compliance with the newly enacted Free Trade Agreement and compliance with other federal government agencies (like U.S. Food and Drug Administration (FDA), Consumer Product Safety Commission (CPSC), and more. Importantly, I will address how to effectively deal with the U.S. government, should you have trouble while importing.
Just because you are importing a product from a party to the DR-CAFTA Free Trade Agreement, does not necessarily mean that the product will be granted DR-CAFTA treatment by U.S. Customs & Border Protection ("CBP"). Even if 95% of the product is made from components that all originate from DR-CAFTA party nations, that still may not be enough.