The U.S. and Japan agreed to a trade deal that will see Japan buy more U.S. agricultural goods, including beef, pork, dairy and corn, the countries announced during the G-7 summit in France.
Exports to China
The government of Canada issued the following trade-related notices as of Aug. 23 (note that some may also be given separate headlines):
China is renewing a customs agreement that allows Hong Kong traders to transship cargo from Hong Kong to mainland China under reduced tariffs, according to an Aug. 21 report from the Hong Kong Trade Development Council. The agreement allows for reduced tariffs for cargo from China’s list of “Least Developed Countries,” which includes mainly African nations, including Angola, Ethiopia, Uganda and more, the report said. The agreement allows Hong Kong traders to apply for “Certificates of Non-manipulation,” which make cargo eligible for “preferential tariffs,” the HKTDC said. The agreement was originally set to end on Aug. 1.
U.S. industry representatives criticized China’s Aug. 23 decision to impose retaliatory tariffs on the U.S. and called for the two sides to quickly reach a trade deal. The latest Chinese tariffs could lock U.S. companies out of China for “many years,” said Doug Barry, spokesman for the U.S.-China Business Council. Barry said U.S. companies are worried that China is finding other suppliers as the trade war continues, and the latest measures may only speed up the process. “More worrisome is the signal to everyone, everywhere, that the trade conflict is getting worse, not better,” Barry said. “So let’s not invest and let’s not buy.”
A Singapore-based trading firm was charged with shipping luxury goods to North Korea in violation of United Nations sanctions, according to an Aug. 21 post on the EU Sanctions blog. The company, SinSMS Pte. Ltd, was accused of shipping more than $650,000 worth (in Singapore dollars) of wine and spirits in 2016 and 2017 to North Korea through Dalian, China, the post said. The company faces a S$1 million fine. The U.S. Office of Foreign Assets Control in 2018 sanctioned SinSMS Pte. and its parent company, Dalian, China-based Sun Moon Star International Logistics Trading Co., for United Nations Security Council violations.
Recent editions of Mexico's Diario Oficial list trade-related notices as follows:
China will impose tariffs on about $75 billion worth of U.S. goods in retaliation for the coming 10 percent Section 301 tariffs on $300 billion in Chinese goods, China’s State Council said, according to an unofficial translation. China said it will impose either 10 percent or 5 percent tariffs on more than 5,000 U.S. products. The tariffs will be imposed in two separate batches on Sep. 1 and Dec. 15, China said.
Mexico recently issued regulations formalizing import restrictions put in place in 2018 meant to protect against the introduction of African swine fever, according to a press release from the Mexican Secretariat of Agriculture and Rural Development (SADER). Published on Aug. 15, the new regulations keep in place measures set in 2018 that prohibit the importation of pigs, pork, semen and embryos, as well as containers and vehicles used to transport these animals and animal products.
China’s Ministry of Commerce repeated claims that it will retaliate against higher U.S. tariffs, said it opposed new U.S. measures against Huawei and plans to make an announcement involving its so-called unreliable entity list “soon,” spokesman Gao Feng said at an Aug. 22 press conference, according to an unofficial translation of a transcript from the briefing.
The government of Canada issued the following trade-related notices as of Aug. 21 (note that some may also be given separate headlines):