Here is a recap of the latest customs and international trade law news:
Background on AD/CVD Investigations
Antidumping duty (“AD”) and countervailing duty (“CVD”) investigations are brought jointly by the U.S. International Trade Commission (“USITC”) and the U.S. Department of Commerce (“Commerce”). AD investigations are triggered when a domestic industry alleges that it has been injured by competing imports of particular goods from specific countries being sold at less than a fair value. Meanwhile, CVD investigations are triggered when a domestic industry alleges that it has been injured by competing imports that are being unfairly subsidized by their governments. The domestic industry initiating the investigation is known as the petitioner while the foreign industry participating in the investigation is known as the respondent.
Special 301 Report
The United States Trade Representative (“USTR”) conducts an annual evaluation known as the Special 301 review. In the review, USTR identifies countries that deny adequate and effective protection of intellectual property (“IP”) rights or deny fair and equitable market access to U.S. persons who rely on IP protection. As a result of this review, trading partners that present the most significant concerns regarding IP rights are placed in one of three categories: 1) the Watch List, 2) the Priority Watch List, and 3) Priority Foreign Countries.
What and Where do Floridians Export?
Exports are big business in the Sunshine State. In 2019, export sales brought $56.3 billion into Florida’s economy. International trade has supported 2.4 million Floridian jobs. Floridians export a wide array of goods all over the world. In 2019, the top export markets for Florida’s goods were Brazil, Canada, and Mexico, respectively. See Chart 1. We will discuss the significance of each of these markets, in turn.
Brazil was the # 1 trading partner for the Miami Customs district in 2010 and has been the top trading partner for more than a decade. It is Florida's # 1 trade partner with over 15 Billion in annual trade. Of that, 13 Billion is export to Brazil, so there is a lot of room for increased trade importing to Florida.