Changes effective October 31, 2013
On October 1, 2013, the U.S. Customs and Border Protection (CBP) posted a final rule in the Federal Register amending Customs regulations to implement the preferential tariff treatment and other customs-related provisions of the U.S.-Columbia Trade Promotion Agreement (CTPA).
Specifically, the following substantive provisions were adopted:
- An importer claiming preferential tariff treatment for a good imported into the U.S. must maintain supporting records for a minimum five years;
- A post-importation claim may be filed by paper or by method specified for equivalent reporting via an authorized electronic data interchange system;
- A clarification of rules for determining the value of a material for purposes of calculating the regional value content of a good and for applying the de minimis rules; and
- The term "repairs or alterations" does not include an operation or process that transforms an unfinished good into a finished good.
The rule goes into effect October 31, 2013.