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Member News
Member News
06
Aug
The U.S. dollar took advantage of a rare calm in trade tensions and rose against a number of its rivals overnight. Still, the Dollar Index is flirting with a fourth day of losses. In response to surprise tariffs announced last week, China allowed their currency to devalue past 7 yuan per dollar, which is largely seen as a “line in the sand.” The move roiled markets and caused American equities to dump 3% of their value yesterday. After stock...
02
Aug
President Trump announced today that the fourth list of products from China subject to additional duties will go into effect September 1, 2019.
On May 13, 2019, the U.S. Trade Representative (“USTR”) issued a proposed List 4 which threatens to impose additional tariffs of on “essentially all” Chinese products imported into the U.S. that were not covered by previous section 301 pronouncements valued at approximate $300 million. Today, President Trump announced in a Tweet that 10% additional duties will be imposed on these...
02
Aug
Key Events This Week
Germany refuses to join US Persian Gulf mission
Germany has refused a request from the United States to join their mission in the Persian Gulf. Foreign Minister Heiko Maas said it was “out of the question” that Germany would take part. The Germans are in close contact with the French, and Maas views the US strategy of “maximum pressure” as wrong, preferring to rely on diplomacy to deescalate the situation.
Tensions have been rising between the United States...
01
Aug
By Thompson Hine International Trade
On July 30, 2019, JSW Steel (USA), Inc. (JSW) filed a complaint against the United States and, specifically, the Department of Commerce (Department) for denying its product exclusion requests for certain steel imports that otherwise are subject to a 25 percent tariff under President Donald Trump’s March 2018 proclamation implementing such tariffs under Section 232 of the Trade Expansion Act of 1962.
The complaint seeks declaratory relief from the U.S. Court of International Trade (CIT) determining that the Department’s...
01
Aug
August 2019 FX OutlookAfter falling against all the major currencies in June, the US dollar rebounded in July. The Dollar Index finished the month at new two-year highs with the Fed’s suggestion it was engaged in a mid-course correction rather than a sustained easing cycle. The dollar also appeared buoyed by the extent of the dovishness by the ECB and the heightened risks that the UK leaves the EU at the end of October without an agreement. Short-term interest...
01
Aug
Tariffs under Section 232 of the Trade Expansion Act of 1962 and Section 301 of the Trade Act of 1974 have been imposed on imports since as early as March 23, 2018. Exemptions from the tariffs are available, and importers should consider implementing strategies to maximize potential recovery of the duties they have paid.
Section 232 duties
Section 232 duties on importations of steel and aluminum products went into effect on subject products on March 23, 2018 or June 1, 2018,...
01
Aug
By Enzo Marasa | Portolano Cavallo Studio Legale
According to the ICA’s preliminary findings, Amazon only granted sellers using Amazon’s own fulfillment and logistics services (FBA) advantages in terms of offer visibility and sales improvement on the Amazon marketplace, in comparison to sellers that are not customers of Amazon’s FBA services and irrespective, to a certain extent, of the merits of the products. As a result, the ICA alleged that Amazon is exploiting a dominant position on the market for...
01
Aug
The priorities for Finland’s Presidency are
to strengthen common values and the rule of law
to make the EU more competitive and socially inclusive
to strengthen the EU’s position as a global leader in climate action
to protect the security of citizens comprehensively
The European Union faces an increasingly complex and unpredictable global operating environment: great power competition and assertive unilateralism are on the rise, and the international rules-based system and its norms and principles are being challenged. We have also seen the EU’s...
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