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US – Treasury labels Vietnam and Switzerland as currency manipulators

By 2 Mins Read

On December 16, 2020, US Department of the Treasury delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. Treasury determined that both Vietnam and Switzerland are currency manipulators. For each country, Treasury assessed, based on a range of evidence and circumstances, that at least part of its exchange rate management over the four quarters through June 2020, and particularly foreign exchange intervention, was for…

Mongolia joins the Asia-Pacific Trade Agreement, China and Mongolia will mutually implement tariff concessions

By 2 Mins Read

The Chinese Ministry of Commerce announced that on October 23, the secretariat of the Asia-Pacific Trade Agreement (the “Agreement”) notified all member parties that Mongolia had deposited a letter of acceptance, and completed the Agreement accession procedures, and plans to be in January 2021. On the 1st, mutual tariff reduction arrangements were implemented with relevant members. According to the tariff reduction arrangement, Mongolia will reduce tariffs on 366 tax items, mainly related to aquatic products, vegetables…

US – USTR initiates Section 301 investigations of Digital Services Taxes

By 2 Mins Read

On June 2, 2020, the United States Trade Representative (USTR) announced that his office is beginning investigations into digital services taxes that have been adopted or are being considered by a number of our trading partners. The investigations will be conducted under Section 301 of the 1974 Trade Act. This provision gives the USTR broad authority to investigate and respond to a foreign country’s action which may be unfair or discriminatory and negatively affect US Commerce. …

US – USTR initiates new Section 301 investigations of Digital Services Taxes

By 2 Mins Read

On June 2, 2020, the United States Trade Representative (USTR) announced that his office is beginning investigations [Docket No. USTR-2020-0022] into digital services taxes that have been adopted or are being considered by a number of the US’ trading partners. The investigations will be conducted under Section 301 of the Trade Act of 1974. This provision gives the USTR broad authority to investigate and respond to a foreign country’s action which may be unfair or…

US – USTR reallocates unused 2020 TRQ for raw cane sugar

By 1 Min Read

On February 7, 2020, the US Trade Representative (USTR) published in the Federal Register a document announcing the country-by-country reallocations of 78,071 MTRV of the fiscal year (FY) 2020 in-quota quantity of the World Trade Organization (WTO) tariff-rate quota (TRQ) for imported raw cane sugar from those countries that stated they do not plan to fill their FY 2020 allocated raw cane sugar quantities. See the notice for country-by-country reallocations.

US – President terminates GSP status for India

By 2 Mins Read

On May 21, 2019, President Trump signed a Proclamation to Modify the List of Beneficiary Developing Countries Under the Trade Act of 1974 [not yet published in the Federal Register], which terminates the designation of India as a beneficiary developing country, effective June 5, 2019. To reflect this termination, general notes 4(a) and 4(d) and pertinent subheadings of the Harmonized Tariff Schedule of the United States (HTS) are modified as set forth in Annex A…

US – BIS amends EAR to recognize and implement India’s membership in the Wassenaar Arrangement

By 1 Min Read

On August 3, 2018, the Bureau of Industry and Security, Commerce (BIS) published in the Federal Register a final rule [Docket No. 180228229-8229-01] amending the Export Administration Regulations (EAR) to formally recognize and implement India’s membership in the Wassenaar Arrangement (Wassenaar or WA). Further, BIS removes India from Country Group A:6 and places it in Country Group A:5.

Asia Pacific Free Trade Agreements March Ahead

By 4 Mins Read

As the trade conflict between the United States and China continues, three free trade agreements are pressing ahead, including– the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), soon to enter into force, the Japan-EU Economic Partnership Agreement (JEEPA), recently signed and which represents 30% of global economic output, and the Regional Comprehensive Economic Partnership (RCEP), an agreement that includes both India and China and comprises the largest trading block in the region.