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In the News: Customs Delays, ZTE Changes, TPP

Monday, July 09, 2018
Sandler, Travis & Rosenberg Trade Report

China customs delays clearing U.S. goods as duties loom - sources

“There did not appear to be any direct instructions to hold up cargoes, but some customs departments were waiting until they had received official guidance from the central government on imposing hefty import tariffs on hundreds of products, the sources said.”

[Reuters]

China's ZTE names new top executives in step towards U.S. ban lifting

“ZTE, which relies on U.S. suppliers for core components, had to cease major operations in April after authorities imposed the ban, saying the firm broke an agreement to discipline executives who conspired to evade U.S. sanctions on Iran and North Korea. As part of the settlement, ZTE agreed to pay a $1 billion fine, put $400 million in escrow, and hire a U.S.-appointed compliance monitor. It also agreed to replace its board, remove all members of its leadership at or above senior vice president level along with any executives associated with the wrongdoing, and punish responsible executives.”

[Reuters]

Japan becomes second country after Mexico to ratify TPP-11 trade deal

“Australia, Canada and New Zealand have taken steps towards ratification, and Chile aims to do so soon.”

[The Straits Times]

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