and Establishment of ACE Broker Accounts
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The Wall Street Journal (WSJ) reports that the European Union (EU) is poised to impose trade sanctions on billions of dollars of U.S. goods starting in March 2004, as congressional leaders signaled their inability to reach agreement on repeal of the U.S. Foreign Sales Corp./Extraterritorial Income Exclusion Act (FSC/ETI) tax regime. The World Trade Organization (WTO) has ruled this tax deduction illegal and given the EU permission to impose as much as $4 billion in sanctions a year. According to an EU official, if the law isn't repealed, the EU is certain to retaliate starting March 1, 2004. (WSJ Pub, 01/26/04, www.wallstreetjournal.com)
The Department of Homeland Security (DHS) has issued a notice announcing that the next meeting of the Departmental Advisory Committee on Commercial Operations of the Bureau of Customs and Border Protection (COAC) will be held on February 6, 2004 in Washington, DC. (This committee was previously called the "Treasury Advisory Committee on Commercial Operations of the U.S. Customs Service.")
U.S. Customs and Border Protection (CBP) has recently posted to its Web site certain new and updated Trade Support Network (TSN) committee Automated Commercial Environment (ACE) user requirement recommendations and ACE Electronic Data Interchange (EDI) message drafts.
On January 15, 2004, President Bush issued Executive Order (EO) 13324, effective 12:01 a.m. EST on January 16, 2004. EO 13324 terminates the national emergency which was originally declared in EO 13194 (Sierra Leone) and the scope of which was expanded in EO 13213 (Liberia). (FR Pub 01/20/04, available at http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-1322.pdf)
The Federal Maritime Commission (FMC) has issued a proposed rule which would amend its regulations governing proof of financial responsibility for ocean transportation intermediaries (OTIs) by allowing an optional rider for additional coverage to be filed with a licensed non-vessel operating common carrier's (NVOCC's) proof of financial responsibility for such carriers serving the U.S. oceanborne trade with China.
U.S. Customs and Border Protection (CBP) has posted to its Web site its January 2004 U.S. Customs and Border Protection Modernization newsletter which discusses, among other things, CBP's plans for expansion of the Automated Commercial Environment (ACE) in 2004. The following are "highlights" of CBP's January 2004 newsletter:
The Committee for the Implementation of Textile Agreements (CITA) has issued a Federal Register notice stating that pursuant to the North American Free Trade Agreement (NAFTA), the existing export visa and folklore certification requirements are being canceled for textile and apparel products in Categories 410, 433, 443, and 611 as such products are no longer subject to 'regular' quotas for exports from Mexico on and after January 1, 2004. (See ITT's Online Archives or 01/14/04 news, 04011415, for earlier BP summary.) (FR Pub 01/23/04, available at http://a257.g.akamaitech.net/7/257/2422/14mar20010800/edocket.access.gpo.gov/2004/pdf/04-1560.pdf)
At its January 21, 2004 meeting, the Federal Maritime Commission (FMC) considered a petition from the National Customs Brokers and Forwarders Association of America, Inc. (NCBFAA) requesting that the FMC amend its non-vessel operating common carrier (NVOCC) bonding provisions to reflect a recent U.S.-China maritime agreement.
U.S. Customs and Border Protection (CBP) has posted a notice on its Web site announcing that the next Customs Broker Licensure Examination will be held on Monday, April 5, 2004.