DOC starts import licensing under surge monitoring system
According to the announcement made by the US Department of Commerce this week, a licensing system for the steel imports will be introduced starting from february 1, 2003. This decision is made as per the Import Administration's final ruling and the import licensing system is covered under the Import Licensing and Surge Monitoring program, outlined in President Bush' Proclamation about S201 steel safeguard measures on March 5, 2002. According to the new regulation, importers will have to obtain a license from the DOC prior to completing their customs import summary documentation. Such import license will provide the Import Administration service of the DOC, statistical information for the surge monitoring program and the early-warning system on the basis of changes in the quantities, types or origins of steel imports.