New import rules need balance, trade groups say
Dec 31, 2008 | 05:22 AM
| Diana Schwaeble
Trade groups are calling on Customs and Border Protection (CBP) to rethink new security requirements for ports that by one estimate could cost American manufacturers as much as $20 billion annually.
The CBP's Importer Security Filings (ISF) interim final rule—commonly known as the 10+2 rule—which goes into effect on Jan. 26, needs to be reevaluated due to its potential to disrupt commerce, Washington trade groups say.
The 10+2 rule is designed to ensure the security of ports and requires that importers file "10+2" additional pieces of information, with 10 data elements such as buyer/seller information, import record number, and foreign trade zone identification number, including two types of information not previously submitted. Break bulk and bulk cargo is exempt from the rule.....
To access AMM's full content, please log in below. If you do not have an AMM account, we invite you to take a free trial or subscribe below.
Already a registered amm.com user?
Access to amm.com editorial content is granted only to paid subscribers and trialists. If you do not have an active account in your own name, please either subscribe or take a trial and you will have instant access to amm.com content. Sharing your login credentials with individuals who are not subscribers represents a violation of AMM copyright.
Every morning, every minute — no matter how often you follow the markets, there's an AMM subscription to fit your needs.
Subscribe Now
Click Here
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.
Take a Free trial
Click Here