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In the News: Japan Agreement, Trade Slowdown, Brexit

Thursday, February 21, 2019
Sandler, Travis & Rosenberg Trade Report

Tokyo looks to hash out U.S. trade deal scope before May summit

“The two sides’ September joint statement called for talks toward a deal on ‘goods, as well as on other key areas including services, that can produce early achievements.’ Tokyo envisions certain steps like simplifying customs procedures for service fields, but could find itself in a tight spot if the U.S. demands concessions such as changing drug-pricing methods or easing rules on financial services.”

[Nikkei Asian Review]

WTO warns of global trade slowdown as indicator hits nine-year low

“‘This sustained loss of momentum highlights the urgency of reducing trade tensions, which together with continued political risks and financial volatility could foreshadow a broader economic downturn,’ the WTO said in a statement. The WTO forecast last September that global trade growth would slow to 3.7 percent in 2019 from an estimated 3.9 percent in 2018, but there could be a steeper slowdown or a rebound depending on policy steps, it said.”

[Reuters]

UK agrees to phase in entry summary declarations for goods after meeting suppliers

“After the six-month transition period, carriers will be legally responsible for ensuring entry summary declarations are submitted to HMRC before goods arrive in the UK. The mode of transport being used to import goods will determine when forms must be submitted.”

[Civil Service World]

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