It is probably not an exaggeration to say that the results of the Malaysian General elections in May of this year took nearly everyone by surprise... But with a Trump-Kim meeting happening, four time champions Italy not making the FIFA World Cup, and Loki actually dying in an Avengers movie, is there anything that really surprises anyone anymore?
Topics: Asia
On May 31st, the Canadian Department of Finance issued a notice of intent to impose tariffs on certain product of US origin imported into Canada. I usually impart some humour into my blogs or attempt to at least, however these are some pretty significant and serious countermeasures.
Topics: North America
A review of New Zealand’s Customs and Excise Act 1996 (“the previous Act”) commenced in 2013, to address parts of the previous Act that dated up to 100 years old. After extensive discussions with stakeholders and industry professionals, the new Customs and Excise bill was introduced in November 2016. On the 22 March 2018, it passed its third reading in Parliament and has now received Royal assent.
Why the change?
As mentioned, the previous Act was, in many respects, outdated and in need of review. The Customs and Excise Act 2018 (“the Act”) will enable the New Zealand Customs Service (“NZ Customs”) to keep up with the rapid changes in international trade, travel, security, and technology.
Topics: South Pacific
More news on the US trade remedies front.
Steel (25%) and aluminum (10%) duties under Section 232 that were initiated on National Security grounds, appear to be even more onerous as the Trump administration has announced that products targeted for Section 232 advanced duties will lose the benefit of GSP trade preference.
There is great concern that other free trade programs may be similarly affected on Section 232 products.
Expect supply chain disruptions, higher costs, and litigation.
Topics: Duty Drawback, HS Classification
On March 20, the 13th National People's Congress of China has formally reached an agreement on the institutional reform plan of the Chinese governmental agencies submitted by the State Council. According to the restructuring plan, many governmental agencies related to import and export operations will be integrated or simplified, and the related parties’ working scope shall be adjusted as well.
Tradewin has summarized the developments as relates to import/export as follows:
The responsibilities and personnel of China and Inspection Quarantine (CIQ) shall be integrated into China Customs.
Topics: Asia, Export Consulting, Import Consulting
