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In the News: Shipping Costs, Trade Facilitation, EU-Japan FTA, India Tariffs, Brazil Tax

Monday, December 17, 2018
Sandler, Travis & Rosenberg Trade Report

Shipping costs from China to U.S. have more than doubled amid trade war

“The price of shipping a container from China to the United States has risen dramatically in the last year due to uncertainty surrounding trade tensions between Washington and Beijing. That's because Chinese exporters have been rushing to get goods to U.S. ports before new tariffs kick in, but data are suggesting that trend may soon run out of steam.”

[CNBC]

East African bloc agrees to make trade cheaper, faster, and simpler

“Burundi, Kenya, Rwanda, the United Republic of Tanzania, and Uganda agreed on 13 December to make trade between them and with other countries cheaper, faster and more straightforward in a significant boost for economic integration in East Africa and continental trade facilitation. Meeting in Nairobi, Kenya, representatives of the nations – who are members of the East African Community (EAC) customs union and common market – said they would implement trade facilitation reforms including reducing ‘non-tariff barriers’ such as burdensome and incompatible product regulations.”

[UNCTAD]

European Parliament ratifies EU-Japan FTA

“Under the agreement, Japan will scrap tariffs on EU agricultural goods, including wine, meat, and cheese. Europe will reciprocate by removing duties on Japanese cars and car parts. The deal also removes regulatory barriers and opens up public procurement markets.”

[New Europe]

India likely to defer imposition of retaliatory import duty on the U.S. yet again

“The higher import duty, if levied, will be imposed on apples, walnuts, lentils, chocolates, as well as some iron and steel items, among others.”

[Money Control]

WTO sides with EU on Brazil’s industrial tax measures

“The WTO Appellate Body confirmed the initial ruling of August 2017 that numerous Brazilian tax programmes are not in line with WTO rules as they favour domestic products. The programmes disadvantage EU automotive, and Information and Communications Technology (ICT) products by granting tax advantages based on the local content embedded in products. According to the ruling such measures are incompatible with WTO law.”

[European Commission]

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