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In the News: Trade War, China Customs, Brexit, India Import Curbs

Thursday, October 04, 2018
Sandler, Travis & Rosenberg Trade Report

Airbus-Boeing fight signals long U.S.-China trade war ahead

“Though the Trump administration has used the WTO to pursue some of its complaints against China, it sees the Airbus-Boeing dispute as demonstrating that the WTO is plodding, ineffective and ultimately broken. Trade hawks in Washington D.C. prefer unilateral tariffs to punish China.”

[Bloomberg]

China customs announces measures to quicken cargo clearance

“Clearance documents subject to verification at ports will be reduced from 86 to 48 by Nov. 1, Zhang Guangzhi, a senior GAC official, told a press briefing. Procedures will also be improved, Zhang said, citing unified customs, frontier and maritime inspections, improved random checks and information disclosure, advanced cargo declaration, and fast track services for farm produce.”

[Xinhua]

Britain and EU preparing to move on Brexit

“The EU will start putting in writing its offer for future trade ties, as Britain has pressed for after feeling Prime Minister Theresa May was snubbed at talks in Austria last month. … Britain has promised to bring a new proposal to unlock a standoff over preventing the return of border checks between the British province of Northern Ireland and EU member Ireland, possibly by compromising about regulatory controls on goods in exchange for Brussels embracing the use of technological fixes for customs checks.”

[Reuters]

India could introduce more import curbs

“The finance ministry expects the tariff hike, on goods including air conditioners, refrigerators, footwear and aviation turbine fuel, will raise ₹40 billion ($551 million) annually.”

[Livemint]

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