China-Ecuador Free Trade Agreement will be mutually implemented on May 1, 2024, and the UK will suspend import taxes on more than 100 kinds of goods丨New foreign trade regulations in May
Foreign trade news in Mayregulation
Overview
24 new items added to the Catalogue of Precursor Chemicals Exported to Specific Countries (Regions)
China-Ecuador Free Trade Agreement to be implemented on May 1, 2024
Mexico announces temporary tariffs on 544 imported goods
UK suspends import duties on over 100 products
The United States launches a Section 301 investigation into China’s maritime, logistics and shipbuilding industries
India makes preliminary anti-dumping ruling on Chinese telescopic drawer slides
India reimposes solar panel import restrictions
India allows import of 50 types of second-hand medical devices
Thailand imposes VAT on small imports of goods worth less than 1,500 baht.
Chile modifies preliminary anti-dumping ruling on steel grinding balls from China
Cuba extends duty-free import period for non-commercial goods
Argentina cancels import red channel and promotes simplified customs declaration
Saudi Arabia releases technical regulations on energy consumption of electronic products
Saudi Arabia further reduces tariffs on imported raw materials
Iraq implements new labeling requirements for incoming products
Myanmar requires import and export licenses to be a must before goods arrive at the port
24 new items added to the Catalogue of Precursor Chemicals Exported to Specific Countries (Regions)
In order to further improve the export management of precursor chemicals, in accordance with the "Interim Management Regulations on the Export of Precursor Chemicals to Specific Countries (Regions)", the Ministry of Commerce, the Ministry of Public Security, the Ministry of Emergency Management, the General Administration of Customs and the National Medical Products Administration decided to adjust the "Catalogue of Precursor Chemicals Exported to Specific Countries (Regions)" and add 24 varieties including hydrobromic acid.
The adjusted "Catalogue of Precursor Chemicals Exported to Specific Countries (Regions)" is now published and will be implemented from May 1, 2024. From the date of implementation of this announcement, the export of chemicals listed in the attached catalogue to Myanmar, Laos and Afghanistan shall apply for a license in accordance with the "Interim Management Provisions on the Export of Precursor Chemicals to Specific Countries (Regions)", and no license is required for exports to other countries (regions).
Original text of the Announcement:
http://file.mofcom.gov.cn/article/zcfb/zczxzc/202404/20240403505105.shtml
China-Ecuador Free Trade Agreement to be implemented on May 1, 2024
In accordance with the relevant provisions of the "Import and Export Tariff Regulations of the People's Republic of China", from May 1, 2024, the agreed tariff rate of some imported goods originating in Ecuador will be implemented in accordance with the "Free Trade Agreement between the Government of the People's Republic of China and the Government of the Republic of Ecuador".
Query the treaty tariff table implemented on Ecuador in 2024:
http://gss.mof.gov.cn/gzdt/zhengcefabu/202404/P020240419426389451413.pdf
Mexico announces temporary tariffs on 544 imported goods
Mexican President Lopez signed a decree on April 22, imposing temporary import tariffs of 5% to 50% on 544 items including steel, aluminum, textiles, clothing, footwear, wood, plastics and their products, chemical products, paper and cardboard, ceramic products, glass and its products, electrical equipment, transportation equipment, musical instruments, furniture, etc. The decree came into effect on April 23 and will be valid for two years.
According to the decree, textiles, clothing, footwear and other products will be subject to a temporary import tariff of 35%; round steel with a diameter of less than 14 mm will be subject to a temporary import tariff of 50%.
For details of the specific tax increase list, please see the previous public account.
UK suspends import duties on over 100 products
Recently, the British government announced that it would suspend import tariffs on more than 100 commodities until June 2026. Products for which import tariffs will be abolished include chemicals, metals, flowers and leather.
An industry organization analyzed that the removal of tariffs on these goods will reduce the inflation rate by 0.6% and the nominal import cost will be reduced by nearly 7 billion pounds (about 8.77 billion U.S. dollars). This tariff suspension policy follows the principle of most-favored-nation treatment of the World Trade Organization, and the suspension of tariffs applies to goods from all countries.
Specific list details can be obtained by private message.
The United States launches a Section 301 investigation into China’s maritime, logistics and shipbuilding industries
On April 17, the Office of the U.S. Trade Representative announced the launch of a Section 301 investigation into China’s maritime, logistics and shipbuilding industries. China is strongly dissatisfied with this and firmly opposes it.
In the first quarter of this year, my country's ship exports increased by 113.1% year-on-year, and many shipbuilding companies exceeded their production and order plans. In addition, according to data released by the China Shipbuilding Industry Association, in January and February this year, my country's new orders accounted for 69.5% of the international market share, and the shipbuilding completion volume and backlog orders also accounted for 56.5% and 56.1% of the global total.
India makes preliminary anti-dumping ruling on Chinese telescopic drawer slides
On April 19, 2024, the Indian Ministry of Commerce and Industry issued an announcement, making a preliminary anti-dumping ruling on telescopic channel drawer sliders originating in or imported from China, and recommended imposing a temporary anti-dumping duty of US$614 per ton on the products involved in the case. The Indian customs codes of the products involved are 83024110, 83024190, 83024200 and 83024900.
India reimposes solar panel import restrictions
India's Ministry of New and Renewable Energy announced that it would resume import restrictions on solar photovoltaic modules from April 1. The Indian government's move is aimed at increasing its domestic production capacity. In the previous fiscal year when the restrictions were shelved, India imported a large amount of solar products from countries such as China.
Bloomberg reported that in order to achieve energy self-sufficiency, Indian Prime Minister Narendra Modi encouraged local manufacturers to manufacture solar panels. The Economic Times of India believed that the Indian government's restart of ALMM was aimed at further increasing domestic production capacity. People familiar with the matter said that the Indian government believed that domestic production capacity had increased and manufacturers needed policy support.
India allows import of 50 types of second-hand medical devices
Recently, the Central Board of Indirect Taxes and Customs (CBIC) of India announced a list of 50 categories of high-end and high-value second-hand medical equipment, except critical care medical equipment, that are allowed to be imported with the permission of the Ministry of Environment, Forests and Climate Change of India in accordance with the Hazardous and Other Waste (Management and Cross-Border Movement) (II) Amendment Ordinance, 2022 (see the table below).
Thailand imposes VAT on small imports of goods worth less than 1,500 baht.
Deputy Finance Minister Churaphan revealed at the Cabinet meeting that a law will be drafted to collect VAT on imported products, including products worth less than 1,500 baht, to treat domestic small and micro entrepreneurs fairly. The laws to be implemented will be based on international agreements that are consistent with the tax mechanism of the Organization for Economic Cooperation and Development (OECD). VAT will be collected through the platform, and the platform will hand over the tax to the government.
Chile modifies preliminary anti-dumping ruling on steel grinding balls from China
On April 20, 2024, the Ministry of Finance of Chile published an announcement in the official daily newspaper, deciding to modify the preliminary anti-dumping ruling on steel grinding balls with a diameter of less than 4 inches originating in China (Spanish: Bolas de acero forjadas para molienda convencional de diámetro inferior a 4 pulgadas), and adjust the temporary anti-dumping duty to 33.5%. The temporary measure will take effect from the date of issuance until the final measure is issued, and the validity period will be calculated from March 27, 2024, and shall not exceed 6 months. The Chilean tariff number of the product involved is 7326.1111.
Cuba extends duty-free import period for non-commercial goods
The Cuban Customs Administration recently issued an official announcement, deciding to extend the duty-free period for non-commercial food, sanitary products and medicines brought into the country by passengers to June 30, regardless of value. For non-carry-on luggage, according to the value/weight relationship stipulated by the Cuban Customs Administration, its value shall not exceed US$500 or its equivalent weight (50 kg). The upper limit of the value of non-commercial items imported by natural persons by freight has been increased from US$200 to US$500, of which the first US$30 value or the equivalent of 3 kg of goods will continue to be exempt from customs duties, and a 30% tariff may be levied on the excess.
The announcement also stipulates that the above policy also applies to non-commercial food, sanitary products, medicines and medical supplies imported by natural persons through air, sea and postal means. The upper limit of duty exemption can be up to US$200 or the equivalent of 20 kilograms in weight, but the prerequisite is that the transported items should be classified as food or sanitary products, and belong to the type identified as medicines and medical supplies in the passenger's luggage, and must be packed separately from the passenger's other luggage and submitted to the customs.
Argentina cancels import red channel and promotes simplified customs declaration
On April 8, the Argentine government announced that the Ministry of Economy has cancelled the obligation for a series of products to undergo customs "red channel" inspection. This regulation requires strict customs inspection of imported goods, resulting in costs and delays for importing companies. From now on, the relevant goods will be inspected according to the random inspection procedures established by customs for the entire tariff.
The Afghan government has cancelled 36% of its imports that were placed on the red channel, accounting for 7% of the country's total imports, mainly involving products such as textiles, footwear and electrical appliances.
Saudi Arabia releases technical regulations on energy consumption of electronic products
On April 1, 2024, Saudi Arabia officially implemented the technical regulations on standby and shutdown power consumption of electrical and electronic equipment. Previously, the Saudi Arabian Standards Organization (SASO) had published the technical regulations on energy consumption of such electronic display products in the official gazette.
1. Product Range
Applicable products: electronic display products (including TVs and monitors)
Exempt products: display products with a visible area of less than 100cm2, projectors, conference display systems/conference screens, medical displays, VR products, and control displays
II. Regulatory requirements
Saudi Arabia's energy efficiency reference for electronic and electrical products refers to the EU Lot6+Lot26 shutdown directive and the (EU) 2019/2021 directive for electronic display products.
For electronic display products, the Technical content can be divided into: general requirements (Lot6+Lot26) + special requirements for this product category (EU) 2019/2021. If there are any conflicts, the special requirements shall prevail.
Saudi Arabia further reduces tariffs on imported raw materials
Saudi Arabia has expanded tariff exemptions for industrial products from April 1, 2024. On March 8, 2024, the Ministry of Industry and Mineral Resources of Saudi Arabia issued a notice stating that the scope of tariff exemptions will be expanded to raw materials, semi-finished products, packaging materials, equipment, machinery and parts directly used in industrial production. Locally produced input or output materials are not included in the exemption.
Agencies applying for the exemption must submit their application through the Ministry of Industry and Mineral Resources’ Senaei platform, selecting the “Add a customs item” option and attaching the required information.
Iraq implements new labeling requirements for incoming products
Recently, the Central Organization for Standardization and Quality Control (COSQC) of Iraq implemented new labeling requirements for products entering the Iraqi market.
Arabic labeling is mandatory: From May 14, 2024, all products sold in Iraq must use Arabic labeling, either alone or in conjunction with English.
Applicable to all product types: This requirement covers all products seeking access to the Iraqi market, regardless of product category.
Phased implementation: The new labelling rules apply to revisions to national and factory standards, laboratory specifications and technical regulations published before May 21, 2023.
Myanmar requires import and export licenses to be a must before goods arrive at the port
The Department of Trade of the Ministry of Commerce of Myanmar announced on April 5 that all import and export activities must obtain a license before the goods arrive at the port, otherwise they will be fined and sentenced according to current laws. This regulation applies to all modes of transportation, including air, sea and land.
The pictures and texts are from the Internet. If there is any infringement, please contact us to delete them.