The U.S. Department of Agriculture’s Agricultural Marketing Service (AMS) issued a direct final rule, decreasing the fee paid by importers of cotton and cotton-containing products under the Cotton Research and Promotion Order. The effective date is November 16, 2024, unless significant adverse comment is received by October 16, 2024.
The current assessment rate on imported cotton is $0.014691 per kilogram. The revised assessment rate is $0.013247 per kilogram, a decrease of $0.001444 per kilogram. This reflects the increase in the average weighted price of Upland cotton received by U.S. farmers during the period January through December 2023, assuring both importers and domestic parties are assessed at the same rate.
The direct final rule also amends the Import Assessment Table which identifies the Harmonized Tariff Schedule (HTS) classification numbers subject to this assessment, the corresponding conversion factor and the assessment rate for that HTS.
Revenue generated by these assessments is used to finance research and promotion programs designed to increase consumer demand for upland cotton in the U.S. and international markets.
Please contact your Livingston account manager with questions.