On This Day - August 4th

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USRC_Massachusetts_(1791)

The United States Revenue Cutter Service was established by an act of Congress on 4th August 1790 as the Revenue-Marine upon the recommendation of Secretary of the Treasury Alexander Hamilton to serve as an armed customs enforcement service.

Immediately after the American Revolutionary War the new United States was struggling to stay afloat financially. National income was desperately needed, and the government determined that a great deal of this income would come from tariffs on imports.

Because of rampant smuggling, the need was immediate for strong enforcement of tariff laws. The United States Congress, urged on by Secretary of the Treasury Alexander Hamilton, created the Revenue-Marine which was later renamed the Revenue Cutter Service on 31th July 1894

The Revenue Cutter Service operated under the authority of the U.S. Department of the Treasury. On 28th January 1915, the service was merged by an act of Congress with the United States Life-Saving Service to form the United States Coast Guard.

What is the current tariff rate for Bananas imported into the USA?

Find out here...

Bananas can be imported into the USA under a zero rate tariff — HTS number 08039000, bound by the WTO.

In 2017 bananas to the declared value of US$2,116,068,000 were imported into the USA.

bananas

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