EU Expedites Tariff Cuts on Ukrainian Goods
The European Parliament published on April 22 its adoption of unilateral measures to eliminate or reduce tariffs on products originating in Ukraine. The measures are in accordance with the 2012 Deep and Comprehensive Free Trade Area agreement. The European Parliament determined it is necessary to expedite the entry into force of trade preferences in the agreement, in light of the recent security, political and economic destabilization in Ukraine, according to the European Parliament Official Journal.
Sign up for a free preview to unlock the rest of this article
Export Compliance Daily combines U.S. export control news, foreign border import regulation and policy developments into a single daily information service that reliably informs its trade professional readers about important current issues affecting their operations.
“In order to prevent any risk of fraud, the entitlement to benefit from autonomous trade preferences should be conditional on compliance by Ukraine with the relevant rules of origin of products and the procedures related thereto, as well as on its involvement in effective administrative cooperation with the Union,” said the notice. “Moreover, Ukraine should abstain from introducing new duties or charges having equivalent effect or new quantitative restrictions or measures having equivalent effect for imports originating in the Union, or from increasing existing levels of duties or charges or from introducing any other restrictions.” The European Union-Ukraine trade agreement mandates a maximum 10-year implementation period. Some in the U.S. say Congress should renew the Generalized System of Preferences to similarly ease Ukrainian economic burdens and dependence on Russia (see 14040919).