Sugar TRQ’s extended again
The USDA has again extended raw sugar tariff-rate quotas. The office of the U.S. Trade Representative says the unused country-specific quota allocations under the tariff-rate quota are being reallocated and says all sugar entering the United States under the 2021 raw sugar TRQ would be permitted to enter the U.S. through December 31st. A previous extension expired on October 31st.
TRQs allow countries to export specified quantities of a product into the United States at a relatively low tariff but subject all imports of the product above a pre-determined threshold to a higher tariff.
The re-allocation and time extension affects 23 sugar-producing countries.
The U.S. committed to allowing 1.1 million metric tons of foreign sugar imports to have lower tariffs during the Uruguay Round Agreements of the World Trade Organization.