The EU’s Carbon Border Adjustment Mechanism officially entered its transitional phase Oct. 1, requiring traders to report, but not yet pay, taxes on carbon emissions associated with certain imports. During the transitional phase (see 2308170033), the mechanism will apply to imports of cement, iron and steel, aluminum, fertilizers, electricity and hydrogen. EU importers of those goods must report on the volume of those imports and the greenhouse gas emissions “embedded during their production,” the European Commission said Sept. 29.
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The International Trade Commission failed to support its "central" underselling analysis as part of the injury investigation on phosphate fertilizers from Morocco and Russia, the Court of International Trade ruled in a Sept. 19 opinion. Judge Stephen Vaden said that since the commission's underselling theory "undergirds" the remaining statutory considerations in the proceeding -- volume, price and impact -- the ITC must revisit its findings on these factors as well should it continue to find that the imports were undersold. The underselling theory "contaminat[ed]" these remaining findings, the opinion said.
The Court of International Trade in a Sept. 19 opinion remanded the International Trade Commission's affirmative injury finding in the countervailing duty investigations on phosphate fertilizers from Morocco and Russia. Judge Stephen Vaden said the commission did not properly support its "central" conclusion that the imports depressed prices because their significant volumes "created oversupply conditions in a declining market and low prices." Noting this finding "undergirds" the remaining statutory considerations -- volume, price effects and impact -- Vaden remanded the undersupply analysis with special instructions to also reconsider the volume, price and impact analyses should the commission stick with its initial conclusion.
The Court of International Trade in a Sept. 14 opinion upheld parts and sent back parts of the Commerce Department's countervailing duty investigation on phosphate fertilizers from Morocco.
The Court of International Trade in a Sept. 14 opinion remanded elements and sustained elements of the Commerce Department's countervailing duty investigation into phosphate fertilizers from Morocco.
The European Commission this week officially adopted rules covering the transitional phase for its carbon border adjustment mechanism, which will eventually set new requirements on imports of electricity, fertilizers, hydrogen, steel, aluminum, cement and other items, including from the U.S. (see 2212130056). During the transition period, which launches Oct. 1 and runs through 2025, traders will be required to report on the emissions “embedded in their imports” that are covered by the mechanism, but they won’t have to pay any taxes.
Colombian conglomerate Grupo Aval and its subsidiary Corporacion Financiera Colombiana (Corficolombiana) will pay more than $60 million to settle allegations that the firms violated the Foreign Corrupt Practices Act, the SEC and DOJ announced last week. The government alleged Corficolombiana bribed Colombian government officials to win a contract for a 328-mile highway infrastructure project in the South American nation.
Colombian conglomerate Grupo Aval and its subsidiary Corporacion Financiera Colombiana (Corficolombiana) will pay more than $60 million to settle allegations that the firms violated the Foreign Corrupt Practices Act, the SEC and DOJ announced last week. The government alleged Corficolombiana bribed Colombian government officials to win a contract for a 328-mile highway infrastructure project in the South American nation.
The U.S. Chamber of Commerce, joined by 30 other trade groups, told the House Ways and Means and Senate Finance committees' leadership that they oppose the Level the Playing Field Act 2.0, which would rewrite antidumping and countervailing duty laws to favor domestic interests.