TradeLane

The Three Brexiteers - Athos, Porthos, and Aramis Discuss Tariff Shift Rules

Brexit

A lot has happened since the June 24th referendum in the UK to leave the European Union. Surprisingly, there may be more uncertainty now than there was immediately following the vote three months ago.

We’ve since gotten a new Prime Minister, Theresa May, who has formed a government department to manage the negotiation process with the European Union - dubbed “The Three Brexiteers.” The principle architects for the Brexit negotiation are David Davis, the Secretary of State for Brexit; Liam Fox, the International Trade Secretary; and Boris Johnson, the Foreign Secretary.

So, now that we have some clarity on who will be in charge of negotiating the terms of Britain’s exit from the European Union, we should know how the process will unfold and what impact this will have on UK, European, and global businesses, right?

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Topics: Europe, Brexit

Brexit over Breakfast

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I have come to quite enjoy the ‘Full English’ breakfast since moving to London last year. Packed with all the day’s calories and none of its nutrition, the full plate of eggs, bacon, hash browns, beans, and tomato has become a weekend favourite.

My breakfast on June 24th was a much more sensible choice of coffee and toast. However, it was made memorable by the Referendum results in Britain over whether or not we should stay in the European Union.

With all votes tallied, the United Kingdom had decided by referendum to leave the EU.

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Topics: Europe, Brexit

What Y2K and the UCC Have in Common

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Does everyone remember Y2K?

The whole world was under the impression that, at the turn of midnight on December 31st, 1999, all our computers would simply stop functioning and we would enter the equivalent of a cyber stone age. I remember vividly sitting on the couch, watching the TV as the ball dropped in Times Square, waiting to see if all the lights were going to go off at any minute.

Alas, the lights stayed on, the computers still worked, and we all moved forward.

EU traders had a similar feeling when May 1st rolled around and the Union Customs Code (UCC) - a union-wide re-write of the customs regulations within Europe - became effective.

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Topics: Europe

China Imposed Embargoes Against Its Little Brother

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On April 5, 2016, the Ministry of Commerce and the General Administration of Customs of the People’s Republic of China released a joint announcement (No. 11 of 2016), which published a list of products that are embargoed in trade with the Democratic People’s Republic of Korea (DPRK).

It was alleged in the announcement that the embargoes are based on the relevant resolutions enacted by United Nations Security Council and the Foreign Trade Law of P. R. China.

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Topics: Europe

To BTI, or Not to BTI? That Is the Question

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Many trade compliance or logistics managers responsible for their company’s importation process have gone through the internal struggle of deciding whether it would be fruitful to apply for a binding ruling from the EU customs authorities.

This struggle might have been less dramatic then Hamlets, but a struggle after all. To add to the dilemma, the rules surrounding obtaining a BTI are also changing as part of the implementation of the Union Customs Code on May 1st, 2016.

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Topics: Europe