Many of you would be aware that we have an FTA with the US (known as the AUSFTA).
You may also be aware that this year is the 10th anniversary of the AUSFTA coming into effect and no doubt the Federal Government and DFAT will be holding some form of glittering black tie function to commemorate the anniversary attended by the usual luminaries.
The US legislation adopting the AUSFTA is known as the United States – Australia Free Trade Agreement Implementation Act (Act). Section 207 of that Act required regulations to be made as necessary to implement the AUSFTA. However you may not be aware that the US has only now released for comment its first set of interim rules (Rules) to implement the AUSFTA on goods entering the US from Australia.
The Rules address some of the customs-related issues associated with the import of AUSFTA goods into the US such as Rules of Origin, the items required to support a claim of origin, the requirements to voluntarily correct an invalid claim of preference and penalties for incorrectly claiming origin. The Rules also deal with verification of origin and the way in which negative rulings on origin are communicated.
Those exporting goods to the US may wish to review the Rules – even if not to comment but to familiarise themselves with what will be expected by US CBP and their US clients.