The U.S.-South Korean free trade agreement (KORUS) is steadily boosting bilateral trade flows, and while South Korean agriculture and industrial exports to the U.S. continue to climb, many companies view the agreement in a negative light, said Commerce Secretary Penny Pritzker in an Oct. 23 speech before the American Chamber of Commerce in South Korea (here). Pritzker led a delegation of businesses to the country to strengthen U.S. commercial ties, particularly in the healthcare and energy sectors. Despite the recent gains, incomplete KORUS implementation is hampering the ability of companies to take advantage of its benefits, said Pritzker. “We know that we have only scratched the surface of the potential benefits of KORUS,” she said. “And while we acknowledge key challenges in the implementation of the agreement, we know that the Korean government has worked hard, and effectively, to address ongoing issues. Moving forward, further challenges are sure to arise, and we need to address KORUS implementation issues more quickly and more efficiently in the future.” Acting Deputy U.S. Trade Representative Wendy Cutler earlier in 2014 said U.S. trade officials were reaching out to their South Korean counterparts to troubleshoot lingering customs certification issues (see 14031425). The Office of the USTR did not respond for comment .
The City of San Antonio has submitted an application to the Foreign-Trade Zones Board to reorganize FTZ 80 under the Alternative Site Framework, said the FTZ Board in a Federal Register notice (here). Under the reorganization, the service area would cover all of Bexar County, Texas, as well as portions of Comal and Guadalupe Counties. The Alternative Site Framework streamlines processes for designation of new FTZ subzones and usage driven sites within the service area by allowing companies to request zone status through the relatively simple "minor boundary modification" process. Comments on the application are due by Dec. 29.
The Commerce Department is seeking comment on any subsidies, including stumpage subsidies, provided by countries exporting softwood lumber or softwood lumber products to the U.S. during the period Jan. 1 through June 30, 2014 (here). Comments are due by Nov. 26.
The Commerce Department is increasing the knit apparel tariff preference level under the Hemispheric Opportunity through Partnership Encouragement (HOPE) Act for fiscal year 2014. The agency says imports from Haiti under the knit apparel TPL rose above 52 million square meter equivalents (SMEs) for the period Oct. 1, 2013 through Sept. 30, 2014, so the TPL for the period is automatically being increased from 70 million SMEs to 200 million SMEs. The TPL for the period Oct. 1, 2014 through Sept. 30, 2015 will remain at 70 million SMEs until FY 2015 imports reach or exceed 52 million SMEs, said Commerce.
The Commerce Department is asking for applications by Dec. 22 to participate in the 2016 International Buyer Program. Through the program, the ITA selects domestic trade shows which will receive agency assistance in the form of global promotion in foreign markets, providing export counseling to exhibitors, and providing export counseling and matchmaking services at the trade show. This round of applications is for trade shows taking place in calendar year 2016.
The Foreign Trade Zones Board issued the following notices for Oct. 21:
The Bureau of Industry and Security eliminated exporting privileges for Texas-based Borna Faizy and Touraj Ghavidel for 10 years, after concluding the two conspired to export computers to Iran from the United States via the United Arab Emirates. The computers, controlled for anti-terrorism purposes, are located on the Commerce Control List and subject to the Iranian Transaction Regulations, BIS said. The two traders used their company Signal Micro Systems to send hundreds the computers to Iran from 2009 to 2011, with a value of more than a million dollars. That company is also barred from participating in the export of goods for 10 years. Faizy was president of Signal Micro Systems during the time the violations were committed, and Ghavidel served as chief operating officer. The two allegedly did not obtain authorization from BIS or Treasury’s Office of Foreign Assets Control.
The Economic and Industrial Development Commission of Windsor Locks submitted an application to the Foreign-Trade Zones Board to reorganize FTZ 71 under the Alternative Site Framework, and expand the zone to cover all of Northern and Central Connecticut. Under the reorganization, the zone's service area would cover Hartford, Middlesex, Windham, Tolland and Litchfield Counties. The proposed reorganization under the Alternative Site Framework would streamline processes for the designation of new FTZ subzones and usage driven sites within that service area by allowing companies to request zone status through the relatively simple "minor boundary modification" process. Comments on the application are due by Dec. 22.
The Foreign Trade Zones Board issued the following notices for Oct. 17:
The Northwest Iowa Development Corporation has applied to expand the area served by Foreign-Trade Zone 288, said a notice from the FTZ Board. The zone currently has a service area that includes Cherokee, Lyon, O'Brien, Osceola, Plymouth and Sioux Counties, Iowa. Under the proposed expansion, it would also cover Woodbury County. If approved, the zone’s grantee would be able to serve sites throughout the expanded service area, said the FTZ Board. Comments are due by Dec. 16.