April 2002 - Issue #1
In This Issue:
President Bush to Impose Stiff Tariffs on Steel Imports
US - Singapore Free Trade Agreement
GSP Renewal Status for Non-AGOA Countries
Shapiro Export NVOCC Service
Shapiro Web-based Warehouse Withdrawals
Trade Industry News
President Bush to Impose Stiff Tariffs on Steel Imports
The International Trade Commission (ITC) voted to recommend that the President provide safeguard measures to protect the U.S. steel industry and its workers from serious injury and consequences due to recent increases of steel imports. As a result, the Bush Administration announced that they would impose temporary measures calling for roughly 10-30% duty increases and tariff rate quotas to be levied on imports of foreign manufactured steel products.
The President outlined the safeguard measures in a wide-ranging three-year plan, which will become effective on or after 12:01 a.m., March 20, 2002. The plan imposes stiff tariffs on certain steel products, thus giving the steel industry time to regroup and implement a plan to increase its competitiveness for the future.
The key steel products include flat steel plates and sheets, tin mill products, hot-rolled bar and cold-finished bar, steel rebar, certain tubular products, carbon and alloy fittings and flanges, stainless steel bar, rod, and wire, as well as steel slabs.
Other provisions of the plan are the exclusion of relief measures on U.S. Free Trade Agreement partners and the exclusion of developing countries that only export small amounts of steel. In addition, the Administration will impose an import licensing system to gather information while monitoring imports to guarantee that the program is not circumvented or destabilized.
For more background and additional information on the relief program, please refer to the U.S. Trade Representative’s website: http://www.ustr.gov/sectors/industry/steel201/background.htm.
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US-Singapore Free Trade Agreement
At the request of the United States Trade Representative (USTR), the U.S. International Trade Commission (ITC) is seeking input for a newly initiated investigation into the probable economic result of a U.S.-Singapore free trade agreement.
The ITC reports it will be conducting a comprehensive review of all items in chapters 1 through 97 of the 2002 Harmonized Tariff Schedule of the United States. Once this is completed, the ITC will advise the President of the economic impact to U.S. industries and consumers of providing duty-free treatment for imports of products of Singapore origin.
The ITC advises it is seeking input for this investigation from all interested parties and requests that the information focus on the issues for which the ITC is requested to provide information and advice.
The ITC will hold a public hearing on April 25, 2002. Requests to appear at the hearing should be filed no later than 5:15 p.m. on April 16, 2002, with the Secretary, U.S. International Trade Commission, 500 E Street, SW, Washington, DC 20436. This request must be filed with one original and 14 copies. The Commission encourages all persons who appear at the public hearing to submit any prepared statements and accompanying material to the Secretary by 5:15 p.m. on April 18, 2002 so that there is time to fully consider the issue at hand. For further information, contact the office of the Secretary at 202-205-1816.
The ITC also welcomes written submissions for the record. Written submissions (one original and 14 copies) should be addressed to the Secretary of the Commission at the above address and should be submitted at the earliest practical date, but no later than 5:15 p.m. on May 9, 2002.
Please refer to the ITC website (http://www.usitc.gov) for further information regarding the scope of the investigation and appropriate submissions.
ITC’s News Release 02-018, dated 2/21/02 (Inv. No. 332-439), the primary source for the article above, covers the deadlines for written submissions and requests to appear at the public hearing.
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GSP Renewal Status for Non-AGOA Countries
At this time, renewal of the Generalized System of Preferences (GSP) for non-African Growth and Opportunity Act (AGOA) countries is unlikely. The House Ways and Means reports that bill H.R. 3010, which received a favorable response, was prepared for the House on October 16, 2001, but unfortunately was never sent to the floor for a vote. This bill amends the Trade Act of 1974 to extend the GSP until December 31, 2002; however, the actual renewal period may change depending on negotiations in Congress.
International Trade Today (issue 03-11-02) reports that the “Senate Finance hopes to introduce an omnibus trade bill for GSP, the Andean Trade Preference Act (ATPA), the Trade Adjustment Assistance (TAA) program, and Trade Promotion Authority (TPA) sometime in March.”
It is imperative that all importers affected by the expiration of the GSP program on September 30, 2001 contact their local congressperson to ask that efforts be intensified for renewal of the GSP program. Importers must convey to Congress the importance of this issue and how it impacts their businesses, so that more emphasis will be placed on renewal efforts.
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Shapiro Products & Services
Shapiro Export NVOCC Services
Samuel Shapiro & Company, Inc. offers neutral export NVOCC services with our own global contacts for both full container and LCL cargo. We have a worldwide agent network that helps make your shipments as seamless and “worry free” as possible. We handle all commodities: HAZMAT, personal effects and general commodities - all with no hidden surcharges.
Our competitive Ocean Freight rates, coupled with our full-service freight forwarding capabilities make Shapiro a “one stop shop” logistics provider. We are not “married” to our contracts and to our own NVOCC and we will often “shop” the market to find you the best solution for your cargo. We believe that our forwarding capabilities and responsibilities do not begin and end with the transport of your cargo. We realize that the most important part of your transaction is “getting paid”, so our Letter of Credit specialists follow up to assure that you are paid as quickly and efficiently as possible.
Our Internet booking and tracking capabilities provide a real time information and will keep you informed of all important details during all phases of your shipment.
For further information please call our experienced export department at 1-800-695-9465.
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WEB Warehouse Withdrawals
Samuel Shapiro & Company, Inc. is offering a new automation product, which allows our customers to make warehouse withdrawals via the Internet.
Our customers must first log onto our website using a secure id and password. Available features include:
- View balances and specific details of previous withdrawal transactions
- Create new withdrawal transactions
- Review the transaction history of closed warehouse entries.
From eliminating a detailed list of withdrawal instructions to automatically generating the warehouse withdrawal for consumption entry, this new program offers simplicity, accuracy, and speed. Withdrawals can be made at any time - even after regular business hours. Results of withdrawal transactions are transmitted back to the customer on the next business day. The customer virtually controls the entire withdrawal process!
Please contact your local Shapiro representative for details on this timesaving automation tool.
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