Companies moving production, taking other steps to avoid Trump tariffs
“Over the past year, Tom Gould, a trade law specialist at Sandler, Travis & Rosenberg, P.A., said he’s seen an uptick in clients seeking to engineer their way out of punitive tariffs. Sometimes he helps retailers and manufacturers reduce their import taxes by finding errors in how certain goods are classified in the tariff schedule.”
[Associated Press]
U.S.-China trade war weighed on Beijing’s decision not to pursue WTO market economy status
“A WTO dispute settlement panel said on Monday that Beijing had requested to suspend legal proceedings on May 7. There were media reports in late-April that China would lose the lawsuit and that the WTO panel’s reasoning would be highly critical of Beijing. A Reuters report said this week said of China’s case: ‘They lost so much that they did not even want the world to see the panel's reasoning.’”
[South China Morning Post]
Japanese official says negotiators working hard on U.S.-Japan trade deal
“An auto industry official told Reuters the deal taking shape could involve Japan offering U.S. farmers new access to its market in return for Washington reducing tariffs on certain Japanese auto parts. But he emphasized the talks remain fluid. Such a deal would give Abe a win on autos while helping Trump shore up support among farmers, an important constituency ahead of the 2020 presidential election.”
OFAC sues over application of 50 percent rule
Among other things the plaintiffs are asking the court to “declare that OFAC’s 50% Rule is unconstitutional and unlawful, as applied to restrain the property interests of U.S. persons and entities not otherwise subject to OFAC sanctions.”
[WorldECR]
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