Background

CBP issues $350 million in Jones Act fines, threatening Alaskan seafood trade

“The fines, which were all issued in August 2021, apparently relate to the use of an intermodal facility in the Canadian province of New Brunswick that is used to transport Alaskan seafood to the U.S. East Coast.”

[Seafood Source]

South Korea lays out new approach to trade in five major sectors

“Under his leadership, Korea will seek to benchmark the US and bolster supply chains on chips, batteries, critical minerals and pharmaceuticals -- four key items mentioned in the Biden administration’s 100-day supply chain assessment report released in February, the Trade Ministry said in a press release. Before the US releases another 100-day supply chain report on six major fields -- defense, public health, technology and communications, energy, transportation and food -- Korea will discuss fostering a closer partnership with the US preemptively and maximize its national interests.”

[The Korea Herald]

Bangladesh decides to join largest trade bloc

“With the trading alliance of 15 economies, including China and Japan, entering into force at the beginning of 2022, Bangladesh's exports to the RCEP nations will not face much trouble until 2026 when the country's duty-free access to these two major markets will end, according to commerce ministry officials.”

[The Business Standard]

U.S. and Ukraine sign MOU on commercial cooperation

“As envisioned in the MOU, both nations will collaborate on Ukraine’s economic transformation in promising sectors for trade, including infrastructure, agriculture, defense, health care and the digital economy, industries affecting Ukraine’s energy transition and decarbonization efforts.”

[Department of Commerce]

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