TradeLane

On February 12^th, 2020, The European Union (EU) moved forward with a partial withdrawal of preferential tariff treatment from Cambodia due to human rights abuses.

The EU-Singapore Free Trade Agreement went into effect on November 21^st, 2019. This is the European Union's first bilateral trade agreement with a Southeast Asian country. This agreement removes tariffs in trade between the EU and Singapore.

According to Announcement of GACC [2019] No.127, to promote trade facilitation, China Customs decided to implement a “two-step declaration” pilot program in some Customs houses under Manzhouli Customs, Hangzhou Customs, Ningbo Customs, Qingdao Customs, Shenzhen Customs, and Huangpu Customs since Aug. 24^th.

President Trump made the surprise announcement yesterday following trade talks in Shanghai this week that he will go forward with a 10% additional tariff on List 4, otherwise known as the remaining $300 Billion in Chinese goods that are not already being hit with an additional tariff.

Finally, the gloves are out from both sides. The Indian Government has decided to implement retaliatory duties on 28 goods originating in or exported from the US. The increased tariffs have been made applicable from June 16, 2019.