TheWeekInCongress.com

Week Ending November 18, 2005

S.695 A bill to suspend temporarily new shipper bonding privileges.

BRIEF

    US trade has a problem with importers who post bonds against violations of various rules, dumping in particular, violate the rules and later the US finds the bonds do not cover the fines. Efforts have been made to require cash bonds, particularly from violators.

   This bill appears to soften that position for new shippers who have not dumped or have not been associated with those who have dumped product on the US market.

   The bill aims to create a different dumping margin or duty rate for them and requires a report on how the plan works out.

Sponsor: Senator Thad Cochran (R-MS)

Vote: Passed Senate by Unanimous Consent November 16, 2005

Cost to the taxpayers:

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