Senators blast agencies over circumvention
May 06, 2011 | 07:54 PM
| Michael Cowden
TORONTO Washington isnt known for its unanimity, but it appears that Democrats and Republicans agree that strict enforcement of trade rules is necessary, especially when it comes to customs fraud and duty evasion.
Thats the picture that emerged from a wide-ranging Senate Finance subcommittee hearing Thursday afternoon, as senators suggested Congressional action may be needed to force U.S. trade officials to boost efforts to stop duty circumvention.
Sen. Ron Wyden (D., Ore.), chairman of Finances Subcommittee on International Trade, Customs and Global Competitiveness, blasted what he called "unscrupulous" attempts to evade anti-dumping and countervailing duties.
"When it comes to ensuring that American business and workers have a level playing field to compete, anti-dumping and countervailing duty laws are the first line of defense," said Wyden, who chaired Thursdays hearing. "But its not enough to just pass these laws; they need to be enforced. Duties dont work unless they are assessed and collected."....
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.