News and Media
17/08/2010
CONGRESS RESTORES HUNDREDS OF DUTY SUSPENSIONS: RETROACTIVE REFUNDS AVAILABLE
On August 11, 2010, the President signed into law H.R. 4380, the U.S. Manufacturing Enhancement Act of 2010 (also known as the Miscellaneous Trade and Technical Corrections Act of 2009, or MTB) consists of hundreds of individual HTS 9902 bills, covering such products as loudspeakers, batteries, household appliances, bicycles, monitors, yarns, fibres, footwear, chemicals, chemical products, The primary purpose of the bill is to temporarily suspend or reduce duties on certain imports.
The bill provides important savings to companies that manufacture finished goods in
the U.S., allowing them to remain competitive with finished goods imports. Title I of the new law contains a number of new duty suspensions, mostly for chemical products and synthetic fibres, but also for some manufactured products, such as over-the range microwave ovens and certain steel exhaust gas manifolds. These suspensions will become effective for goods imported 15 days after the bill is signed into law. The new duty suspensions and renewals in the bill will be effective through December 31, 2012.
The suspension or reduction of duties on these products is retroactive to January 1, 2010. Accordingly, importers may seek refunds of the duties paid on covered imports. Customs and Border Protection will issue instructions for importers to follow to seek these retroactive refunds. Refund applications must be filed no later than 180 days after the bill is signed into law.
The complete text of the bill may be viewed by clicking on the following link.
