COVID-19 Trade Impacts Resource Page
Visit our COVID-19 Trade Impacts Resource Page for information on the effects the COVID-19 pandemic is having on trade operations, worldwide import/export changes, and how companies can respond.
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Visit our Tariff Actions Resource Page for information, deadlines and resource documents on the various U.S. tariff actions and the responses by the rest of the world.
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Sandler, Travis & Rosenberg Trade Report
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In a popular referendum, the United Kingdom voted June 23 to terminate its more than 40-year membership in the European Union. However, Brexit itself will not take effect for at least two years and possibly longer. A great deal of work lies ahead, during which time it will be important for companies to conduct thoughtful analyses and make reasoned decisions concerning potential impacts, future business operations and continued trade compliance.
Reimbursable services include customs, agricultural processing, border security and immigration inspection-related services at ports of entry.
Most respondents said they believe the benefits of trade agreements outweigh the costs and that global competition is more responsible for domestic job losses than trade agreements.
The Environmental Protection Agency said the new law includes a number of improvements to TSCA, including a mandatory requirement for the EPA to systematically prioritize and evaluate existing chemicals on a specific and enforceable schedule, a requirement for the EPA to evaluate the safety of chemicals based purely on the health risks they pose, increased public transparency for chemical information, and the authority for the EPA to collect up to $25 million a year in user fees from chemical manufacturers and processors to pay for the improvements.
According to the report, G-20 economies applied 145 new trade-restrictive measures from mid-October 2015 through mid-May 2016. This represents an average of nearly 21 per month, up from 17 during the previous reporting period and the highest monthly average since monitoring began in 2009.
The proposed modifications would liberalize the current rules of origin by allowing the use of more non-originating inputs through the expansion of process-based ROOs or changes in tariff shift rules and regional value content requirements.
Tighter enforcement of the importer security filing requirement beginning June 30 could result in an increase in penalties or cargo holds at some ports and may also present a challenge to small and new importers.
The U.S. agricultural trade surplus is forecast at $9.7 billion, down from $25.7 billion in FY 2015 and the lowest since FY 2006.
Federal officials were urged by lawmakers and private-sector representatives this week to strongly enforce a recently enacted law fully prohibiting imports of products made with forced labor. U.S. Customs and Border Protection has already been active in using its authority under the new law and has pledged further enforcement.
Average processing time for manual review and release of ACE-submitted entries is 25 percent faster than for ACS-submitted entries and release times for document reviews are 33 percent faster (a time savings of 1.5 days).
Petitions will be collected for 60-day periods starting Oct. 15, 2016, and Oct. 15, 2019. Each interested party will be required to establish a user account on the ITC website to either submit or comment on a petition.
The updated amounts will apply to all penalties assessed after Aug. 1 regardless of when the actual violation occurred. DDTC retains the discretion to assess penalties lower than these maximum amounts should circumstances warrant.