Canadian Government Notices as of April 29
The government of Canada issued the following trade-related notices as of April 29 (note that some may also be given separate headlines):
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.
- COVID-19, market turbulence impact reflected in estimate of international investment. Given the unusual circumstances surrounding the COVID-19 pandemic response and the impact on economies globally, Statistics Canada reported April 27, ahead of the usual time frame for releasing the data for the current reporting period, that Canada's net foreign asset estimated position declined by approximately $90 billion in the first quarter, from a published level of $1,006 billion at the end of 2019. Canada's estimated international assets were down $360 billion (-6.2%) in the first quarter. “This would represent the largest decline in value since the quarterly series started in 1990 and the largest percentage decrease since the third quarter of 2008,” it said. The decline of the net position is not considered to be substantial, however, “it is hiding significant and offsetting movements in the value of gross international assets and liabilities, highlighting the risk and the volatile nature associated with these investments.”
- NAFTA textile/apparel TPL utilization. Global Affairs Canada updated the 2020 NAFTA textile and apparel tariff preference level utilization rate for imports and exports.