Global Trade Advisory Alert - 20 October 2022
On 7 October 2022, as part of efforts to protect US national security and foreign policy interests, the Department of Commerce’s Bureau of Industry and Security (“BIS”) issued a series of updates to its export controls impacting trade with the People’s Republic of China (“China”).
Global Trade Advisory Alert - 8 June 2022
In late April 2022 China's Ministry of Commerce (MOFCOM) published draft regulations on export control of dual-use items for public consultation purposes. The draft regulations are another significant step towards improving China's export control regime following the start of the Export Control Law (the law) on 1 December 2020.
Global Trade Advisory Alert - 19 May 2022
On 18 May 2022, the city of Shenzhen in the Guangdong Province of Mainland China announced a collaboration between Shenzhen’s customs and tax authorities on transfer pricing administration. The program, which became effective upon announcement, allows qualifying businesses in Shenzhen to have their transfer pricing arrangements for the importation of goods from related parties agreed to by both Shenzhen customs and tax authorities.
Global Trade Advisory Alert - 25 March 2022
In the past several weeks, the United States (“US”), like many other countries around the globe, began issuing and implementing a series of sweeping economic sanctions, export controls, and trade restrictions in response to events in Ukraine taken by Russia. Responsive actions taken to date by the US are numerous, have developed quickly, and continue to evolve on a daily basis.
Global Trade Advisory Alert - 8 March 2021
On 5 March 2021, the Office of the US Trade Representative (“USTR”) extended, once again, the expiration date of the temporary Section 301 tariff exclusions for COVID-19 medical care products. Specifically, the latest extension of the expiration of the exclusions that were announced last year has changed from 31 March 2021 to 30 September 2021.
Global Trade Advisory Alert - 5 March 2021
On 5 March 2021, the US and the EU agreed to suspend all supplemental tariffs between them resulting from the large civil aircraft dispute for four months effective as soon as internal procedures on both sides are completed. This announcement came a day after the US and the UK released a joint statement announcing a four-month suspension of US tariffs on the UK related to the ongoing large civil aircraft dispute effective 4 March 2021. The UK had already stopped imposing tariffs on US-origin goods when it left the EU on 1 January 2021.
Global Trade Advisory Alert - 4 March 2021
On 24 February 2021, US President Biden issued an Executive Order (EO) outlining the Biden Administration’s policy on supply chain resilience, diversity, and security. The EO stated that the Administration’s goals include increasing the resiliency of the US’s manufacturing base and mitigating the effects of future trade disruptions. The Administration described these actions as being part of a broader strategy to promote investment in domestic manufacturing capacity aimed at raising wages and standards of living.
Global Trade Advisory Alert - 14 February 2022
Several regulatory and policy developments occurred over the past several weeks that impact the global trade activities of many US importers, including:
The Office of the United States Trade Representative (“USTR”) announced in November 2021 that the US would end seven Section 301 investigations centered on Digital Services Taxes (“DST”) in several countries;
Global Trade Advisory Alert - 5 February 2021
On 1 February 2021, US President Biden announced via Proclamation 10144 that the 10 percent supplemental tariff on aluminum imports from the United Arab Emirates (“UAE”) would remain in effect. This action reversed action taken by the former Trump Administration, which had granted an exclusion from these tariffs for UAE-origin aluminum that was to take effect on 3 February 2021 after the UAE agreed to quota restrictions for aluminum exports to the US. President Biden’s proclamation thus effectively reversed the UAE exclusion before it took effect.
Global Trade Advisory Alert - 3 February 2021
On 25 January 2021, US President Biden signed Executive Order (“EO”) 14005 titled, “Executive Order on Ensuring the Future Is Made in All of America by All of America's Workers.” The EO directs US federal agencies to take several measures to increase the purchase of goods and services from US-based companies under federally funded procurement contracts. Notably, it requires an increase of US content in goods produced for federal contracts, replaces the “component test” with a test that measures the value added to a product in the US, increases the price preferences for domestic end products, and creates a position in the Office of Management and Budget (OMB) that will be responsible for enforcement. The EO also encourages the head of each government agency to review and consider changes to its actions that are inconsistent with this “Made in America” policy.
Global Trade Advisory Alert - 29 January 2021
On 19 January 2019, the US Department of Commerce (“Commerce”) published an interim final rule and provisional regulations to enact the requirements of Executive Order 13873, “Executive Order on Securing the Information and Communications Technology and Services (“ICTS”) Supply Chain,” dated 15 May 2019.
Global Trade Advisory Alert - 27 January 2021
On 15 January 2021, the US Department of Commerce’s Bureau of Industry and Security (“BIS”) issued an interim final rule, effective on 16 March 2021, to implement the provisions of the Export Control Reform Act of 2018 (“ECRA”).
Global Trade Advisory Alert - 22 January 2021
On 11 January 2021, the Trump Administration re-designated Cuba as a state sponsor of terrorism (“SST”). Cuba had that designation removed in 2015 by the Obama Administration. The list to which Cuba is being re-added also includes Syria, Iran, and North Korea. To date, there has been no indication as to the Biden Administration’s response to this action.
Global Trade Advisory Newsflash - 8 January 2021
On 15 November 2020, the Regional Comprehensive Economic Partnership agreement (RCEP) was signed at the Vietnam-hosted virtual ASEAN Summit.
Global Trade Advisory Alert - 8 January 2021
Several regulatory and policy developments occurred over the past several weeks and during the holiday period that impact the global trade activities of many US importers and exporters.
EU-UK Trade and Cooperation Agreement
The European Union (“EU”) and the United Kingdom (“UK”) have reached the Trade and Cooperation Agreement, which applies on the provisional basis as of 1 January 2021. Below, we discuss some of the relevant implications of this agreement from the customs perspective, particularly rules of origin.
