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December 27, 2011 Information on Korea Manifest System (KMS) On January 1, 2012, the Korea Customs Service (KCS) will begin implementation of electronic advanced manifest requirements for cargo being carried into and out of the customs territory of Korea. Submittal of information to the Korea Manifest System (KMS) will apply to: - Goods imported via air transportation into Korea Korea Customs is launching the Korea Manifest system in an effort to control illegal or counterfeit exports, improve import clearance procedures and become aligned with international standards. Timing requirements for sending shipment data to the KMS varies depending on which mode of transportation is used to carry the goods: - Short haul inbound flights (with a duration less than four hours) must be filed upon departure; Carriers will need to receive the following information to submit a filing with the time limits specified:
2012 Duty Rates for Certain U.S. Imports Dec. 15 - 31, 2011 On December 15, 2011 U.S. Customs and Border Protection (CBP) issued CSMS# 11-000313 announcing a blanket authorization for Year-End Immediate Delivery (ID) procedures, allowing importers to take advantage of interim Harmonized Tariff Schedule changes which are effective on or after January 1, 2012. According to the message, merchandise released between December 15, 2011 and December 31, 2011 may be entered using the duty rates and special programs for 2012, under certain conditions. At this time, the Year-End ID procedures do not apply to those new 2012 tariffs which are pending approval by the President. The CSMS message also stipulates that the "blanket authorization does not apply to absolute quota merchandise and merchandise moved under an immediate transportation entry." Goods restricted by tariff rate quota, allowed to enter the United States under a lower duty rate for a certain time period, may still be released under Immediate Delivery guidelines if certain requirements are met. For more information on Year-End ID Procedures, please contact your local Expeditors service representative. The full text of the CSMS message can be accessed online by searching for the message number at:
On December 16, 2011 the World Trade Organization (WTO) Ministers adopted Russia’s terms of entry at the 8th Ministerial Conference in Geneva, clearing the final hurdle for their acceptance as a WTO member. Russia has 220 days to ratify the deal and would become a full WTO member 30 days after notifying the WTO of the ratification. Reforms detailed in the terms of entry include: The WTO is an international organization which deals with the rules of trade between nations based on agreements which are negotiated and approved by member nations and ratified by their respective parliaments. A WTO news release is available online at: A statement from U.S. Trade Representative Kirk is available at:
Tons News, for current and past issues of Tons News by E-mail request from tonsnews@tonslogistics.com or call (310) 338-0337. ________________________________________ Tons News is compiled from a number of public sources that, to the best of Tons knowledge, are true and correct. It is our intent to present only accurate information. However, in the event any information contained herein is erroneous, Tons accepts no liability or responsibility.
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