Trade and Industry Department, Hong Kong (TID) announced on 17 August 2006, the US President signed the Pension Protection Act of 2006 into law.
The Act contains a provision which temporarily suspends the practice of allowing importers of goods from new shippers to post bonds or other security to cover estimated anti-dumping (AD) and countervailing duties (CVD) on those goods.
As a result, for all new shipper reviews conducted by the US Department of Commerce during the period from 1 April 2006 to 30 June 2009, the US Customs and Border Protection (CBP) will collect a cash deposit of estimated AD and CVD duties on each entry of subject merchandise entered or withdrawn from warehouse for consumption, except for merchandise from Canada or Mexico.
The relevant administrative message issued by CBP to this circular for reference.
Trade and Industry Department, Hong Kong (TID) play a key role in international trade fora for the pursuit of global free trade; assist the trade and industry in safeguarding and maximising their access to the global market.
Trade and Industry Department, HK
marketing@alchempro.com
