SYNTHETIC SAILS IMPORTATION DUTY

SYNTHETIC SAILS IMPORTATION DUTY

Tariffs for all floating vessels are harmonized at chapter 89 of the harmonized tariff schedule of the United States. The rate of duty on importing synthetic sails is determined by multiplying the number of units of sails with the general duty rate of 1.5%. Special duty rates are free for such importations.

Sanctions Program and Country Summaries

United state sanctions against Burma

The United States government imposed sanctions against the Burma. Investments and trades between these two nations were prohibited. The United States president restricted any financial transactions with Burma. Importation and exportation of goods between Burma and the United States was prohibited. The United States withdrew its international contribution to Burma. Moreover, the president sanctioned against entry of Burmese into United States (Sparshott, 2003).

United state sanctions against Iran

The United States president banned the importation and exportation of goods and services from/to Iran.US involvement in the petroleum sector was also prohibited, investments and trade between these two countries was also banned by the United State government. Furthermore, financial transactions were banned. United States imposed sanctions to ban the selling of aircraft parts to aviation companies in Iran. The selling of weapons between United States and Iran was banned due to Iran’s involvement in terrorism.

According to Akbar (2005), the United States imposed similar sanctions of prohibiting foreign investment and foreign trade against these two countries. Contrasting sanctions against the two countries include, Burma was sanctioned against any benefits from the United States contribution in international programs. On the other hand, United States sanctioned Iran against involvement in petroleum and aviation sector (Akbar, 2005). The United States has recently eased the sanctions against Burma. Expanded investments opportunities have been realized and political relations have improved. Burma’s economy is on the recovery.

REFERENCES

Akbar, E. (2005). Impacts of the US Trade and Financial Sanctions on Iran, the World Economy, Vol. 28, No. 3, pp. 407-434,

Sparshott, J. (2003). House to approve economic sanctions on Burma.  Knight Ridder Tribune Business News. Retrieved from http://search.proquest.com/docview/463926912?accountid=45049.