Both Asian countries and American businesses had hoped that the Indo-Pacific Economic Framework could be a step on the road to lowering tariffs, trade experts said during a webinar on the future of IPEF, but now they're wondering if there will be any economically significant effect at all from talks about trade facilitation, green transition and supply chain resilience.
The Census Bureau emailed tips this week on how to address the most frequent messages generated this month in the Automated Export System.
The U.S. is likely to continue using export controls, investment restrictions and other economic policy tools against China this year, particularly as the upcoming presidential election draws closer, trade and economic policy experts said this week.
The Federal Maritime Commission will host a public hearing Feb. 7 to look at how conditions in the Red Sea and the Gulf of Aden are "impacting commercial shipping and global supply chains," the commission said Jan. 12. The FMC said the hearing will allow the shipping industry to share with the commission "how operations have been disrupted by attacks on commercial shipping emanating" from Houthi rebels in Yemen (see 2312200045).
Indonesia recently issued new measures meant to incentivize imports of electric vehicles, including one that will delay the country’s 40% minimum local content requirement timeline for EVs from 2023 until 2026, the Hong Kong Trade Development Council reported Jan. 10. Indonesia also expanded a duty waiver to cover “imported built‑up vehicles.” The waiver had previously applied only to imported “knocked‑down vehicles” that would be assembled and sold in Indonesia, HKTDC said.
Members of the U.K. Parliament this week questioned whether the government should be imposing more restrictions on China, including through human rights sanctions on Hong Kong officials and export restrictions on a broader range of Chinese technology companies. They also urged the U.K. to share the results of a possible review of its arms export policies toward Israel, which at least one member said hasn’t been transparent.
The Federal Maritime Commission is adjusting its civil monetary penalties for inflation, the agency said in a notice released this week. The changes, effective Jan. 15, increase maximum penalties for various violations of U.S. shipping regulations, including failing to establish "financial responsibility for nonperformance of transportation," illegal foreign shipping practices that have an “adverse impact” on U.S. carriers, “knowing and willful” violations of the Shipping Act, and operating in foreign commerce after a tariff suspension.
USDA is accepting applications from exporters for its upcoming trade mission to India, the agency's Foreign Agricultural Service said this week. The April 22-25 trade mission will feature meetings with Indian importers, market briefings on the region, “relevant” site visits in New Delhi and opportunities to speak with USDA officials.
India altered its import policy regarding threaded screws traded under Indian tariff schedule codes 73181110, 73181190, 73181200, 73181300, 73181400, 73181500 and 73181900, the Director General of Foreign Trade announced. The import policy was changed from "Free" to "Prohibited," though the goods will be allowed to enter India if their cost, insurance and freight values are above approximately $1.55 per kg.
China again extended its Section 301 retaliatory tariff exclusion period for 12 U.S. agricultural products, including certain shrimp, whey, fishmeal, alfalfa and hardwood products, USDA’s Foreign Agricultural Service said in a recent report. The exclusions, which were set to expire Dec. 31, will continue through July 31. Beijing originally imposed the tariffs in retaliation for Section 301 tariffs announced by the Trump administration on certain Chinese goods.