Trade News

Trade News

Chapter News, Trade & TTIP Related

OECD | Services trade restrictions increased in 2020, compounding COVID-19 economic shock

The global regulatory environment for services trade became more restrictive in 2020, with new barriers compounding the shock of the COVID-19 pandemic on exporters, according to a new OECD report. OECD Services Trade Restrictiveness Index (STRI): Policy trends up to 2021 shows an increasing pace in the erection of new barriers to services trade across all major sectors. New restrictions are affecting services traded through a range of commercial establishments, in sectors including computer services, commercial banking and broadcasting. Global...
Brexit News, Member News, Trade & TTIP Related

Ogletree | EU-UK Trade and Cooperation Agreement Provides a Grace Period for Free Flow of Personal Data

After the political and constitutional upheaval of the last four years that has been Brexit, a trade deal—the EU-UK Trade and Cooperation Agreement—was finally reached between the United Kingdom (UK) and the European Union (EU) on December 24, 2020, just days before the deadline when the UK was set to crash out of all EU treaties. Amongst the rules about how much fish a French fisherman can catch off the coast of Scotland and whether a vaccine approved in Denmark...
Member News, Trade & TTIP Related

Orrick | The Practical Implications of the EU-China Investment Deal

On December 30, 2020, the EU and China announced the conclusion of the negotiations of the investment treaty, the EU-China Comprehensive Agreement in Investments (CAI). The CAI represents a strategic opportunity for EU companies, financial institutions and funds to invest in China. This treaty contains two significant overarching commitments by China: market access and fair competition. The CAI did not appear overnight and certainly not without hard work on both sides; it took seven years and 35 rounds of...
Member News, Trade & TTIP Related

Jaguar Freight | ‘The Weekly Roar’: Global Freight Updates 01/11/21

With short-term freight snags, limitations against EU regulators, U.K. lockdowns, an avg. of 30 vessels at anchor waiting at the Ports of LA/ Long Beach all last week, increasing supply chain debt, decreasing blanked sailings, and a tight air cargo market 2021 is already off to a rocky start for supply chain all over the globe. It’s been over a week since public officials finalized the Brexit trade deal otherwise known as the European Union-United Kingdom Trade and Cooperation Agreement. Because of...
Member News, Trade & TTIP Related

Faegre Drinker | C’est La Vie: New Section 301 Tariffs on French Goods — Originally Set to Go Into Effect on January 6 — Are Indefinitely Suspended

On January 7, 2021, the United States Trade Representative (USTR) announced that new tariffs on certain French products are indefinitely suspended. According to USTR, the duties — which resulted from a Section 301 investigation of France’s Digital Services Tax (DST) and were set to take effect on January 6, 2021 — are being set aside as a means of “promot a coordinated response” to other DSTs that have been proposed or adopted in the European Union (EU) and multiple countries. Background On July...
Brexit News, Member News, Trade & TTIP Related

Vulcan Insight | Post-Brexit trade agreement – one week in

The post-Brexit trade and cooperation agreement reached in the hours before Christmas between the UK and the EU is one of the most important trade deals in history. It is also the first to disintegrate a trading partnership, constructing, rather than removing barriers to trade. After 47 years of EU membership, British Prime Minister Boris Johnson welcomed in the New Year telling Britons that “we have our freedom in our hands and it is up to us to make the...
Member News, Trade & TTIP Related

GDLSK | GSP expired as of January 1, 2021

Congress failed to reach a deal before the end of the year that would have extended the Generalized System of Preferences (GSP) program. As a result, GSP-eligible goods entered or withdrawn from warehouse are subject to “General” (Column 1) duty rates, effective January 1, 2021, at 12:00 a.m. A bill proposed in the Senate would have extended GSP for 16 months, while a bill that was introduced in the House provided for a six-month extension. Neither bill moved forward, primarily...
Member News, Trade & TTIP Related

GDLSK | Amended regulations covering section 232 exclusions on steel and aluminum products to be published

In a notice to be published in the Federal Register on December 14, 2020, the Bureau of Industry and Security (BIS) of the U.S. Department of Commerce (DOC) announced a new interim final rule amending the exclusion process with respect to steel and aluminum mill products covered by additional duties under Section 232 of the Trade Expansion Act of 1962, as amended (“Section 232”).  Unless excluded, steel and aluminum products covered by this action are, respectively, subject to an...

Other Chapter News