The U.K. will officially join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership on Dec. 15 after securing the final ratification required to trigger the country’s accession to the trade deal (see 2312290034), the Department for Business and Trade said last week. The deal, which currently includes Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam, is expected to remove tariffs from more than 99% of U.K. exports to CPTPP members, the country said. The U.K. needed ratification from six countries to join the deal.
Canada will soon impose a 100% import tariff on all Chinese-made electric vehicles and a 25% tariff on certain Chinese steel and aluminum products, moves that will protect its auto industry from what it said are Beijing’s “unfair, non-market policies and practices.”
China’s commerce ministry met with industry officials last week to discuss possibly raising import duties on large-engine cars, according to an unofficial translation of an Aug. 23 ministry notice. China said the meeting featured “representatives from relevant industry organizations, research institutions and automobile companies," where China listened to their "opinions and suggestions on increasing tariffs on large-displacement fuel vehicles." The China Chamber of Commerce to the EU said in May that Beijing was considering the tariffs, which could be imposed on exporters from the U.S. and the EU in response to increased duties recently announced by both governments on imports of Chinese electric vehicles (see 2405140008 and 2408200020).
The Center for Strategic and International Studies think tank's "Trade Guys" podcast said that the EU's tariffs on Chinese-made electric vehicles (see 408200020) "is sort of a preview of coming attractions."
The Federal Maritime Commission is asking for public comments on an information collection related to ocean common carriers that are subject to the FMC’s regulations. The notice said controlled carriers must ensure that they don’t maintain rates or charges in their tariffs and service contracts “that are below a level that is just and reasonable; nor establish, maintain, or enforce unjust or unreasonable classifications, rules, or regulations in those tariffs or service contracts that result or are likely to result in the carriage or handling of cargo at rates or charges that are below a just and reasonable level.” Public comments are due Oct. 22.
China officially requested dispute consultations with the EU on its provisional countervailing duties on Chinese electric vehicles, the World Trade Organization announced Aug. 14. China said the duties and general CVD investigation violate Article VI of the General Agreement on Tariffs and Trade 1994, which covers antidumping and countervailing duties, and the Agreement on Subsidies and Countervailing Measures.
Four U.S. House members urged the Colombian government last week to end a “meritless” investigation of U.S. powdered milk exports. Reps. Adrian Smith, R-Neb.; Jim Costa, D-Calif.; Dusty Johnson, R-S.D.; and Jimmy Panetta, D-Calif., made their plea in a letter to Colombian Ambassador to the U.S. Luis Gilberto Murillo.
Canada is considering new measures to strengthen its export controls, tariffs and other trade-related enforcement powers as it analyzes whether it has tools powerful enough to protect against threats to its economic and national security.
EU countries need to do more to track China’s progress in semiconductors, electric vehicles, solar panels and other technologies, European researchers said last week, warning that Beijing is increasingly turning to export controls to test where it can best “exploit dependencies” by other major economies that are imposing their own technology trade restrictions against China. They added that China’s export licensing decisions have so far been “highly opaque” and sometimes appear biased, generating fear among western countries that the controls are solely being used as a trade retaliation tool.
Mike Pompeo, who served as secretary of state during the Trump administration, said this week that he supports the proposed acquisition of U.S. Steel by Japan’s Nippon Steel because he believes it would help American workers compete with “subsidized” Chinese steel.