Department of Commerce May Rethink Retrospective Import Duty System

The United States is the only major economy in the world that employs a “retrospective” system for assessing and collecting antidumping and countervailing duties on imports. At the direction of the U.S. Congress, the Department of Commerce’s International Trade Administration is seeking public comment on the relative merits of the existing retrospective system versus a “prospective” system. Comments were due to be submitted to the International Trade Administration by April 20, 2010 and requests to participate in the hearing on the issue were required by April 13, 2010.

This Sidley Update was republished by ILO in its Trade & Customs Newsletter.