This Trade Summary provides an overview of WTO dispute settlement decisions and panel activities, and EU decisions and measures on commercial policy, customs policy and external relations, for the second quarter of 2019.
This Trade Summary provides an overview of WTO dispute settlement decisions and panel activities, and EU decisions and measures on commercial policy, customs policy and external relations, for the first quarter of 2019.
After brisk movement through the EU legislative process, the proposed EU Regulation on Foreign Direct Investment Screening (the “Regulation”) was approved by the European Parliament on February 14, 2019. This development comes amidst a global sprint to strengthen and establish foreign direct investment laws, including in France, UK, Germany, and Hungary, as well as the US and China.
Although individual Member States retain their authority to screen (i.e., investigate, condition, prohibit, or unwind) foreign direct investments (“FDI”), the Regulation introduces and formalizes numerous procedures and criteria for cooperation among Member States and with the Commission. Specifically, it sets out an EU-wide framework on this process and grants competence to the European Commission (“EC”) to intervene with an official opinion on the grounds of “public order and security”. Additionally, it provides an official forum for Member States to weigh in and potentially affect the course of foreign investment activities across the European Union.
Continue Reading New EU-wide Foreign Direct Investment Screening System Approved
On November 14, 2018, almost a year and a half after the British public voted to exit the EU, the UK and EU reached agreement on the terms of separation manifested in a draft Withdrawal Agreement. This draft text updates an earlier version published in March 2018. Subsequently, on November 22, the EU and UK published the accompanying draft Political Declaration that sets out key principles of the future relationship. On November 25, the European Council endorsed these two texts. This post summarizes the key outcomes with respect to trade in goods, the continued applicability of EU law and European Court of Justice jurisdiction, and dispute settlement during the transition period, as well as the framework for the EU and UK’s future relationship.
Continue Reading The EU and UK Agree on Arrangements for Brexit Transition Period and Future Relationship Framework
On September 13, 2018, the Taxation (Cross-border Trade) Bill received Royal Assent, formalizing its application into UK law as an Act of Parliament. This date marks less than one year since the Cross-border Trade Bill, also referred to as the “Customs Bill”, was first brought before the House of Commons. The initial scope of the Customs Bill, as well as the accompanying Trade Bill, was discussed in a previous blog post.
Continue Reading UK Parliament Passes Trade and Customs Legislation in Shadow of Brexit Uncertainty
This Trade Summary provides an overview of WTO dispute settlement decisions and panel activities, and EU decisions and measures on commercial policy, customs policy and external relations, for the second quarter of 2018.
This Trade Summary provides an overview of WTO dispute settlement decisions and panel activities, and EU decisions and measures on commercial policy, customs policy and external relations, for the first quarter of 2018.
On March 16, 2018, the European Commission released a 10-page list of U.S. products it plans to impose “rebalancing” duties on, in response to the recently adopted US steel tariff measures subjecting imports of steel and aluminum to 25% and 10% duties, respectively (see here for our previous post on this).
Continue Reading EU Lists U.S. Products Targeted for Retaliatory Tariffs, Opens Consultations
On March 8, 2018, President Trump imposed new tariffs on steel and aluminum imports into the US. Effective March 23, 2018, a 25% tariff will be imposed on steel articles corresponding to Harmonized Tariff Schedule (“HTS”) codes 7206.10 through 7216.50, 7216.99 through 7301.10, 7302.10, 7302.40 through 7302.90, and 7304.10 through 7306.90. In addition, a 10% tariff will be imposed on aluminum articles corresponding to the HTS codes for: (a) unwrought aluminum (HTS 7601); (b) aluminum bars, rods, and profiles (HTS 7604); (c) aluminum wire (HTS 7605); (d) aluminum plate, sheet, strip, and foil (flat rolled products) (HTS 7606 and 7607); (e) aluminum tubes and pipes and tube and pipe fitting (HTS 7608 and 7609); and (f) aluminum castings and forgings (HTS 7622.214.171.124 and 76126.96.36.199).
Continue Reading The Clash of Steel: U.S. Tariffs Imminently In Force, Canada and Mexico Exempt
On January 18, 2018, the European Commission launched a call for proposals on regulatory cooperation activities envisaged by the EU-Canada Comprehensive Economic and Trade Agreement (“CETA”). (See our previous post for further details on the provisional application of CETA). The Commission is seeking views from all interested parties on the scope of issues for potential regulatory cooperation in order to prepare for the first meeting of the RCF, tentatively scheduled to take place in mid-2018.
Continue Reading European Commission’s Call for Proposals on Regulatory Cooperation under CETA