- August 31, 2020
- Posted by: admin
- Category: Industrial Rebates
The International Trade Administration Commission (ITAC) initiated an industrial rebate investigation on warp knit fabrics. The subject product is used in manufacturing upholstered furniture classified under tariff subheadings 9401.61 and 9401.71. Bravo Group applied for the industrial rebate.
Industrial rebates are a mechanism to assist local manufacturers to import raw materials and components without incurring an import duty. They are created if there is no local production or no sufficient quantities of the exact raw material or components required.
Apart from industrial rebates, ITAC administers temporary rebates. Temporary rebates provide an import duty exemption temporarily in specific situations.
Situations that require a temporary rebate are many. This includes situations were the only local producer of the product has an unforeseen plant breakdown for an extended period of time. Alternatively, if the local manufacturer has ceased production.
Interested parties have 4 weeks to submit comments.