WASHINGTON—At least 10 categories of tires, rubber, rubber products and rubber processing machinery are on the list issued by the Office of the U.S. Trade Representative of goods imported from China that are subject to a 25 percent tariff. The USTR issued the list on its website in response to the order President Trump signed […]
China’s plan to impose 25% tariffs on 106 US products, in response to President Donald Trump’s proposed import taxes on $50 billion in Chinese goods, includes several petrochemical products for which the Asian country is a critical export market, prompting a swift response from the industry’s trade group. “China is one of the US chemical […]
NEW YORK — The U.S. Court of International Trade is ordering the U.S. Department of Commerce to recalculate antidumping margins it issued against five Chinese off-the-road tire companies in a 2016 administrative review.
WASHINGTON—The National Highway Traffic Safety Administration has granted Sumitomo Rubber Industries Ltd.’s petition for a decision of inconsequential noncompliance in the case of 5,408 Falken truck tires
WASHINGTON—Canada and the United States are “finally starting to converge” on the dispute over automotive manufacturing that has been a key obstacle to the success of North American Free Trade Agreement negotiations, President Donald Trump’s trade chief said Wednesday.
U.S. Trade Representative Robert Lighthizer’s comments to the House Ways and Means Committee corroborated the optimistic words from Canadian Ambassador David MacNaughton the day prior.
BEIJING (Reuters) – China accused the United States of “repeatedly abusing” trade practices, as Beijing braced on Thursday for an imminent announcement from U.S. President Donald Trump slapping more tariffs on Chinese imports.
The U.S. tariffs on Chinese imports worth as much as up to $60 billion are set to be unveiled later on Thursday, raising fears that the world’s two largest economies could be sliding toward a trade war.
An acute shortage of the Carbon Black -a major raw material needed for manufacture of rubber products has caused the crisis in Indian Non-tyre Rubber industry . The shortage has caused the shutting down of a large number of small and medium sized manufacturing units across the nation. All India Rubber Industries Association ( AIRIA ), an industry body of non-tyre rubber products manufacturers, has appealed to the Govt.
WASHINGTON (Reuters) – The Trump administration is pressing China to cut its trade surplus with the United States by $100 billion, a White House spokeswoman said on Wednesday, clarifying a tweet last week from President Donald Trump.
Last Wednesday, Trump tweeted that China had been asked to develop a plan to reduce its trade imbalance with the United States by $1 billion, but the spokeswoman said Trump had meant to say $100 billion.
The United States had a record $375 billion trade deficit with China in 2017, which made up two thirds of a global $566 billion U.S. trade gap last year, according to U.S. Census Bureau data.
China reported its 2017 U.S. trade surplus as $276 billion, also about two thirds of its reported global surplus of $422.5 billion.
The U.S. Department of Commerce has lowered anti-dumping duties on select passenger and light truck tires imported from Chinese companies.
After a review of the 2015 rates, the commerce department found that Giti Tire Global Trading Pte. Ltd. and its entities as well as Qingdao Sentury Tire sold passenger and light truck tires in the U.S. at prices below their normal value from Jan. 27, 2015 to Jan. 31, 2016.
by Michael Sherbo, Director of Appeals, Dominion Customs Consultants Inc.
In January 2016, the CBSA (Canada Border Services Agency) introduced their ARL (Accounts Receivable Ledger) system. It is designed to offset an importer’s refunds by posting credits to the importer’s account and replaces the previous system of issuing refund cheques.
Prior to ARL, importers paid the duties owed. Later, if applicable, the importer would file for a refund. If the CBSA agreed, they would generate a DAS (Detailed Adjustment Statement) to show they had granted a refund to the importer. This process could take anywhere between one to two months. Importers might then wait an additional three weeks to actually receive their cheque. This meant importers were usually looking at up to three months to actually receive their cheque.
ARL streamlined this entire process. Now, credits to an importer’s account usually show up by the next day. Because the refund comes in the form of a credit against the duties owed by the importer – it is not a cash payment – importers can access the use of the money sooner, offering them a quick improvement to their cash flow.
The CBSA will make an exception in cases where an importer has a large credit, usually if the credit is more than two months of duties payable. If the importer requests a cheque, the CBSA can send one to the importer to shorten the time needed to level out the duties owed.
One of the challenges of ARL is visibility to an importer’s account. Currently, the only visibility to an account is shared between the importer and the CBSA. If the importer uses a service provider such as a customs broker or a consultant, those third-parties will have visibility only to the parts they’ve worked on. If the importer also uses a second service provider, they will see only the information they’ve worked on. No-one has any visibility into the other’s activity.
Add a savvy importer to the mix, one who is filing their own refunds, and none of the service providers will have any visibility to any credits that may be in the account.
The CBSA is working on remedying this. They are looking to implement different upgrades to ARL. One of the next improvements will be for service providers to have increased visibility into their clients’ account and balance.
In the meantime, importers need to work closely with their service providers. They need to make sure they receive accurate and prompt statements in order to track that all their credits are accounted for as quickly as possible. This is because the account can quickly become overpaid if brokers constantly pay their client’s statements only to leave refunds and credits in the account, never to come off.
Service providers automatically receive their own daily notice and statement of account on behalf of their clients.
Importers can make sure they see the previous month’s refund processed as quickly as possible by setting themselves up to receive their own daily notice and statement. There are two ways to do this. One – they can set themselves up directly with the CBSA. Although more practical, this is the more costly route. Two – they can engage a third-party service provider to obtain daily notice or statement of account information. This is the less expensive route and can be put into place with only nominal fees attached.
To find out how you can lower your landed costs, contact Howard Rosenberg, Account Executive, Dominion Customs Consultants Inc.; at firstname.lastname@example.org; or 1-888-888-3443 x 239.