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In the News: Brexit, ZTE Penalties, NAFTA, Pacific Alliance

Friday, July 27, 2018
Sandler, Travis & Rosenberg Trade Report

United Kingdom submits draft schedule of post-Brexit WTO goods commitments

“The United Kingdom considers this notification to constitute a rectification of its concessions under the WTO, on the grounds that the schedule replicates the concessions and commitments currently applicable to the UK as an EU member. Under this process … WTO members will have three months to review the schedule, which will be considered to be approved if there are no objections from other members.”

[World Trade Organization]

Congress won't reinstate stiff penalties on Chinese telecom giant ZTE

“In the final version of the annual defense policy bill, lawmakers softened the language with a more mild provision that blocks companies that work with the US government from using ZTE or Huawei technology. Such companies will also reportedly have five years to get rid of ZTE and Huawei equipment.”

[The Hill]

Trump urges Mexican president-elect to wrap up NAFTA deal 'quickly'

“‘I believe a successful renegotiation of [NAFTA] will lead to even more jobs and higher wages for hard-working American and Mexican workers—but only if it can go quickly, because otherwise I must go a much different route,’ Trump said in a letter to Mexican President-elect Andrés Manuel López Obrador. ‘It would not be my preference, but would be far more profitable for the United States.’”

[The Hill]

Pacific Alliance and Mercosur start plans for free trade agreement

“The Pacific Alliance also received requests from Ecuador and Korea to become associate members, and a meeting was set for March 2019 in Peru to discuss how to enhance collaboration between the group, its associate members and observers that also include New Zealand, Canada and others.”

[Latin Finance]

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