As Yemen’s Houthi rebels have increased attacks against vessels sailing through the Red Sea and the Gulf of Aden, global trade stakeholders have responded. It has been announced in the media that oil majors and large global shipping lines are suspending shipping operations in the Red Sea. In light of the current geopolitical climate, the … Continue Reading
Companies are preparing to comply with the European Union’s new deforestation regulation (EUDR). On June 29, 2023, the European Parliament and Council formally adopted the EUDR. The EUDR goes into effect on December 30, 2024 for large companies (operators and traders)[1] and June 30, 2025 for micro and small exporters.[2]… Continue Reading
Changes may be coming to the “de minimis” exception under Section 321 of the Tariff Act of 1930, as amended, which allows goods valued less than $800 to enter the United States free of duty and taxes, and generally free from formal review, when shipped to individual consumers. Senators Sherrod Brown (D-OH) and Marco Rubio … Continue Reading
How IPEF Builds On Prior Trade Relationships Negotiated By The Biden Administration: In May 2023, the Biden Administration announced the Indo-Pacific Economic Framework for Prosperity (IPEF), a commitment to improving supply chains between the U.S., and the Indo-Pacific nations of Australia, Brunei, Fiji, India, Indonesia, Japan, Malaysia, New Zealand, the Philippines, Singapore, South Korea, Thailand, … Continue Reading
Last Friday, February 24, 2023, the Biden Administration issued a Proclamation on Adjusting Imports of Aluminum into the United States. You can read the full proclamation here. The Proclamation states that, beginning on March 10, 2023, a 200% ad valorem tariff will be imposed on all aluminum articles and derivative aluminum articles produced in Russia. … Continue Reading
Late Monday, June 13, 2022, Customs and Border Protection (CBP) issued its long-anticipated Operational Importer Guidance to guide importers before the Uyghur Forced Labor Prevention Act (UFLPA) enters into effect on June 21. As a reminder, beginning on that date, CBP will apply a rebuttable presumption that goods coming from the Xinjiang region violate a … Continue Reading
On June 1, 2022, US Customs and Border Protection’s (CBP) Office of Trade Relations hosted a webinar on forthcoming implementation of the Uyghur Forced Labor Prevention Act (UFLPA). Half of the webinar focused on the history, enactment, and text of the UFLPA (discussed in this blog’s previous posts here, here, and here), while the second … Continue Reading
This is a Cross-post from the Capital Thinking blog . Please contact Stacy Swanson with any questions. On Tuesday, August 11, presumptive Democratic presidential nominee Joe Biden announced that he has selected Senator Kamala Devi Harris (D-California) as his vice presidential running mate. Since joining the U.S. Congress in 2017, Harris has in some instances … Continue Reading
This is a Cross-post from The Trade Practitioner blog. Please contact Ludmilla Kasulke with any questions. Despite the Congressional recess and continued focus on COVID-19 economic relief, Trump officials announced several major trade actions over the last week that could impact global trade and supply chains. Here is a quick round-up of recent developments and what … Continue Reading
Countries around the world continue to enact policies aimed at mitigating the spread of COVID-19 that both recognize the importance of trade to their respective economies, but also seek to address domestic demand for key goods – especially medical supplies – related to the crisis. Similarly, some recent government policies around the world have shifted … Continue Reading