Trade Fair Program Act Law and Legal Definition
The Trade Fair Program Act (Act) is a federal legislation that is codified in 19 USCS § 1751. This Act promotes trade in the U.S. by granting privileges to any fair proposed to be held in the U.S. The articles in the fair are treated as imports when brought into the U.S. at the time of such entry. The Act states that any article entered in a fair are subjected to duties and internal-revenue taxes. An article is taxed depending on its condition and quantity. Any article that has entered a fair without the payment of taxes or duties will be:
2. transferred from such fair to other customs custody status or to a foreign-trade zone;
4.abandoned to the government.