Greek sheet open to partial duty exemption
Nov 02, 2007 | 07:55 AM
| Paul Schaffer
Greek aluminum sheet made from U.S. scrap can get a partial duty exemption if the scrap consists of manufacturing leftovers and the sheet goes into U.S. goods, according to a recent U.S. Customs and Border Protection ruling.
Imports of aluminum sheet generally require a 3-percent duty payment.
The Customs finding was sent to the trading arm of Commercial Metals Co. (CMC), Irving, Texas, which originally queried the agency on the issue.
Certain requirements of the arrangement are strict. According to a federal appeals court ruling in 2005, processing by a scrapyard isn't equivalent to manufacturing and, therefore, can't trigger the benefits of international "production sharing" in reducing import duties.....
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.
Not sure if you are ready to invest in a subscription right now? Take a free, no-obligation trial. Start your free trial today.