New Shipper Review Amendment Act of 2005

H.R. 1039, the New Shipper Review Amendment Act of 2005, proposes a change to how the U.S. government collects duties on imported goods from new foreign suppliers. Under existing law, new exporters who were not part of an original trade investigation can often post a bond or security instead of paying cash deposits for anti-dumping or countervailing duties while the government reviews their specific tax rate. This bill would suspend that "bonding privilege" for three years, requiring these new shippers to pay all estimated import duties in cash upfront.

For American citizens and businesses, the practical impact of this bill is intended to prevent foreign companies from evading trade duties. By requiring cash payments rather than bonds, the bill aims to ensure that the U.S. Treasury actually collects the required taxes on imported goods that may be unfairly priced, thereby protecting domestic industries from being undercut by competitors who might default on their bonds before a final tax rate is determined.