U.S. deliveries hit by delays as record imports spark port congestion
“The company identified a combination of factors: peak season traffic; the run-up to Chinese New Year; and the prospect of further tariffs on imports from China.”
UK cannot simply trade on WTO terms after no-deal Brexit, say experts
“There are two apparently insurmountable hurdles to the UK trading on current WTO tariffs in the event of Britain crashing out in March, said Howard. Firstly, the UK must produce its own schedule covering both services and each of the 5,000-plus product lines covered in the WTO agreement and get it agreed by all the 163 WTO states in the 32 remaining parliamentary sitting days until 29 March 2019. … The second hurdle is the sheer volume of domestic legislation that would need to be passed before being able to trade under WTO rules: there are nine statutes and 600 statutory instruments that would need to be adopted.”
Algeria replaces broad import ban with duties up to 200 percent
“Under the new measure, customs duties for cement will reach 200 percent. Those on cell phones, washing machines, cookers and refrigerators will stand at 60 percent, according to details published on the website of the government gazette. Duties for air conditioners, aluminium products, carpets, furniture and ceramics are set for 60 percent. For chocolates, juice, fruits and different vegetables the percentage will range from 30 to 120 percent.”
Copyright © 2021 Sandler, Travis & Rosenberg, P.A.; WorldTrade Interactive, Inc. All rights reserved.