CBP issued the following releases on commercial trade and related matters:
Customs Inefficiencies, Need for Mexico-Asia Supply Chains Limit Nearshoring's Appeal, Panelists Say
Representatives from manufacturing interests operating in Mexico said the COVID-19 pandemic has presented an opportunity to argue for locating more production in North America, for both reliability and speed, but there are still obstacles to making the argument for nearshoring as an answer to vulnerable supply chains. The president of the National Council of the Maquiladora and Export Manufacturing Industry and the director of global trade compliance for Illinois-headquartered manufacturer Regal Beloit spoke at the Wilson Center's "Building a Competitive U.S.-Mexico Border" conference, which was held Aug. 10 and 11.
Customs Inefficiencies, Need for Mexico-Asia Supply Chains Limit Nearshoring's Appeal, Panelists Say
Representatives from manufacturing interests operating in Mexico said the COVID-19 pandemic has presented an opportunity to argue for locating more production in North America, for both reliability and speed, but there are still obstacles to making the argument for nearshoring as an answer to vulnerable supply chains. The president of the National Council of the Maquiladora and Export Manufacturing Industry and the director of global trade compliance for Illinois-headquartered manufacturer Regal Beloit spoke at the Wilson Center's "Building a Competitive U.S.-Mexico Border" conference, which was held Aug. 10 and 11.
CBP's plans to extend the Part 102 marking rules from NAFTA to USMCA determinations of country of origin for nonpreferential claims and procurement under USMCA (see 2107010045) lacks the legal justifications needed to finalize the proposal, Novolex Holdings, a packaging conglomerate owned by the Carlyle Group, said in comments to the agency. "As proposed, such origin determinations would no longer abide by the precedent developed in over a century of determinations by the federal courts," the company said. The comments were posted Aug. 11 in the docket.
The National Customs Brokers & Forwarders Association of America is asking its members to lobby their representatives to ask for a permanent fix to bankruptcy law that used to require brokers to return money that they had forwarded to CBP on behalf of clients if those clients declared bankruptcy within 90 days of those payments. There is a temporary fix to this clawback issue, but it will expire on Dec. 27 if a law with a permanent fix is not passed before then. The NCBFAA says, "Every day we hear in the news of companies filing bankruptcy due to the impacts of the COVID-19 pandemic and many of those companies are importers."
Senate Finance Committee Chairman Ron Wyden, D-Ore., Banking Committee ranking member Pat Toomey, R-Pa., and Sen. Cynthia Lummis, R-Wyo., were seeking a Saturday vote on language to clarify new cryptocurrency tax provisions included in the bipartisan Infrastructure Investment and Jobs Act substitute for shell bill HR-3684 (see 2108050064). They seek to narrow the definition of “broker” for digital asset third-party tax-reporting requirements. Software developers, e-wallet providers and miners shouldn’t face the same burdensome requirements as entities running crypto exchanges, they said.
Senate Finance Committee Chairman Ron Wyden, D-Ore., Banking Committee ranking member Pat Toomey, R-Pa., and Sen. Cynthia Lummis, R-Wyo., were seeking a Saturday vote on language to clarify new cryptocurrency tax provisions included in the bipartisan Infrastructure Investment and Jobs Act substitute for shell bill HR-3684 (see 2108050064). They seek to narrow the definition of “broker” for digital asset third-party tax-reporting requirements. Software developers, e-wallet providers and miners shouldn’t face the same burdensome requirements as entities running crypto exchanges, they said.
The Federal Maritime Commission is investigating the surcharge practices of eight ocean carriers after receiving industry complaints that the carriers have “improperly” imposed fees, the commission said Aug. 4. The carriers -- CMA CGM, Hapag-Lloyd, HMM, Matson, MSC, OOCL, SM Line and Zim -- have until Aug. 13 to respond to questions by the FMC’s Bureau of Enforcement and to “provide details that confirm any surcharges were instituted properly and in accordance with legal and regulatory obligations.”
The Federal Maritime Commission is investigating the surcharge practices of eight ocean carriers after receiving industry complaints that the carriers have “improperly” imposed fees, the commission said Aug. 4. The carriers -- CMA CGM, Hapag-Lloyd, HMM, Matson, MSC, OOCL, SM Line and Zim -- have until Aug. 13 to respond to questions by the FMC’s Bureau of Enforcement and to “provide details that confirm any surcharges were instituted properly and in accordance with legal and regulatory obligations.”
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