Act Now: Clock Starts To Request Duty Reduction Or Suspensions

If you are seeking a new temporary duty suspension or duty reduction for a product you import, or if you want to extend an existing reduction or suspension beyond 2012, you have until Monday, April 30 to seize the opportunity or risk waiting several years before getting another chance.

Last week, Congress took the first step in what has become a biannual process to pass a miscellaneous tariff bill (MTB). This legislation temporarily reduces or suspends duties on certain U.S. imports and makes other technical corrections to the U.S. Harmonized Tariff System (HTS). The MTB consists of many individual tariff adjustment bills aggregated into a single legislative package subject to a single vote by Congress.