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October 23, 2012 CBP Posts Frequently Asked Questions on U.S.-Korea Trade Agreement On October 10, 2012, U.S. Customs and Border Protection (CBP) issued CSMS #12-000424 announcing that a document with Frequently Asked Questions (FAQs) on the U.S.-Korea Free Trade Agreement was published on their website, as part of their informed compliance and shared responsibility initiative. The document includes a memorandum, which explains that the FAQs "provides answers to some of the most common questions arising from the implementation of the U.S.-Korea FTA. It should be referenced in conjunction with the U.S.-Korea text, the Harmonized Tariff Schedule of the United States General Note 33, and 19 CFR 10, Subpart R." The FAQs cover the following areas: Any questions regarding this document should be directed to the Trade Agreement Branch at fta@dhs.gov CSMS #12-00424 is available online at: The FAQs and memorandum are available online at: U.S. Wins Steel Dispute with China On October 18, 2102, the Office of the U.S. Trade Representative (USTR) issued a press release announcing that the World Trade Organization (WTO) Appellate Body rule in favor of the U.S. on the dispute with China in regards to the imposition of duties on U.S. exports on grain oriented flat-rolled electrical steel, and rejected China's claims on appeal. In the press release, the USTR explains that "the Appellate Body rejected China’s claims that the Panel misinterpreted the Subsidies and Countervailing Measures (SCM) Agreement and the Anti-Dumping (AD) Agreement. In particular, the Appellate Body upheld the Panel’s findings of defects in China’s determination that U.S. exports caused adverse price effects. The Appellate Body also upheld Panel findings that China failed to disclose essential facts, and failed to explain its determination." In the background information included in the release, it is explained that the dispute settlement consultations with China was first brought to the WTO on September 15, 2015, and after no resolve was found, a Panel was established on March 2011. The Appellate Body's report will be adopted by the WTO Dispute Settlement Body within 30 days, and recommend that China take the appropriate steps to conform to the SCM and AD agreements. The full text of the press release is available online at:
U.S.-Panama Trade Agreement to Become Effective October 31, 2012 On October 22, 2012, the Office of the U.S. Trade Representative (USTR) issued a press release announcing the determination by the governments of the U.S. and Panama to bring into force the U.S.-Panama Free Trade Agreement (FTA), effective October 31, 2012. The release explains that "after entry into force of the Agreement, Panama will immediately reduce or eliminate tariffs on U.S. industrial goods, currently averaging seven percent, with some tariffs as high as 81 percent. Over 86 percent of U.S. exports of consumer and industrial products to Panama will become duty-free immediately." Some of the industries mentioned in the press release, which will benefit from the reduction of duties, include the following: The decision came after both governments reviewed the laws and regulations regarding the agreement implementation. The U.S.-Panama FTA Implementation Act was signed into law on October 21, 2011. The press release is available online at:
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