U.S. Customs and Border Protection has been instructed to begin collecting Section 301 duties on 818 products of China origin at the rate of 25% effective July 6th.
The total value of the targeted goods is $50 billion.
List 1, which was implemented on July 6th, is valued at $34 billion and the second list of products is expected to hit importers once the comment period ends. List 2 is valued at approximately $16 billion.
Topics: Export Consulting, Import Consulting, North America
This week we feature guest author Alan Owen, Director of Customs Services, Europe at Expeditors, Tradewin's parent company.
Speculation continues as to “what sort of a deal” will be struck between the European Union and the United Kingdom with regards to trade in goods and customs matters in a post Brexit environment.
Recent advances in the negotiation process have allowed both the United Kingdom and the European Union to move to the next phase, which will be to start discussing a future trading and customs environment and the implementation of the transitional period.
Topics: Europe
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As mentioned, the previous Act was, in many respects, outdated and in need of review.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
