Week in and week out you are exposed to an array of applications such as Customs tariff applications and trade remedy applications. On the publication of the application, a period of comment of 4 weeks is normally allowed, after which the investigation seemingly disappears, only to resurface with the publication of a tariff/trade amendment resulting in change in the Customs tariff dispensation.
It is strange that during the process of investigation companies are not preparing or even anticipating a tariff/trade remedy amendment. As a consequence the amendment normally hits as a bolt out of the blue.
From this week we will, based on our extensive analysis, provide you with a Customs Tariff Cautionary™. This is an alert of the possible tariff amendment that we foresee due to the time that has lapsed since the investigation was initiated.
This week we offer two Customs Tariff Cautionary™ notices, both Code RED.
1. Code RED: Suggestion: Act with extreme care: The tariff Amendments were expected around 18 April 2014 but are still ongoing. As a reminder, on 22 November 2013 Itac published the amendment of the customs duty structure for certain pneumatic tyres of rubber classifiable under tariff subheading 4011.10, 4011.20.15, 4011.20.22, 4011.20.24, and 4011.20.26.
2. Code RED: Suggestion: Act with care: The tariff amendment is expected around 14 November 2014 for helical springs classifiable under tariff subheading 7320.20 from 5% ad valorem to 30% ad valorem, by way of creating an additional 8-digit tariff subheading under 7320.20 for helical springs with a wire diameter of more than 1.32mm but not exceeding 2.43mm.