On May 31, 2018, the Department of the Treasury’s Office of Foreign Assets Control (OFAC) issued Ukraine-Russia-related General License 13B, which replaced and superseded General License 13A in its entirety. General License 13B extends the expiration date of the general license to 12:01 a.m. August 5, 2018.
Recent Trade Compliance News
The Aluminum proclamation eliminates the exemptions from the 10% tariff granted to Canada, Mexico, Brazil and the EU on behalf of its Member States, in earlier proclamations. In addition, quotas are established for aluminum imports from Argentina and steel imports from Argentina and Brazil, in addition to the quotas previously established for S. Korea.
On May 31, 2018, the President Trump issued Proclamation of May 31, 2018 – Adjusting Imports of Aluminum into the United States (Aluminum Proclamation) and Proclamation of May 31, 2018 – Adjusting Imports of Steel into the United States (Steel Proclamation).
Pursuant to the Continued Dumping and Subsidy Offset Act of 2000, this document is U.S. Customs and Border Protection’s (CBP) notice of intent to distribute assessed antidumping or countervailing duties (known as the continued dumping and subsidy offset) for Fiscal Year 2018 in connection with countervailing duty orders, antidumping duty orders, or findings under the Antidumping Act of 1921.
This document provides the instructions for affected domestic producers, or anyone alleging eligibility to receive a distribution, to file certifications to claim a distribution in relation to the listed orders or findings. Certifications to obtain a continued dumping and subsidy offset under a particular order or finding must be received by July 30, 2018.
Li made the remarks when meeting with journalists together with his Canadian counterpart, Justin Trudeau, after the two leaders attended the signing ceremony of a series of bilateral cooperation documents.
“We have reached many new consensuses in economic and trade area,” said Li, adding that China is willing to import frozen beef from Canada, and the two sides have reached an agreement on Canada’s canola exports to China.
Li also said that the two sides discussed cooperation in finance, tourism and law enforcement, as well as between their local governments.
“The exchange of visits within one month showed that China-Canada relations are entering a new stage,” said Li who referred to Trudeau’s recent official visit to China, adding that “it’s rare in the bilateral ties, and conforms to the interests of both countries as well as the expectations of the international community.”
Li arrived in Ottawa on September 14, 2016. His visit to Canada is the first by a Chinese premier in 13 years.
The Chinese premier said the two sides agreed that China and Canada have broad common interests and sound cooperation. The development of the bilateral ties is in the interests of both Chinese and Canadian people as well as the world’s peace and stability.
To see the full story, click on the following link: http://www.chinadaily.com.cn/world/livisitcanadacuba/2016-09/23/content_26871027.htm.
BEIJING (Xinhua) — China’s decision to cut tariffs on a wide range of technology products would help push the country’s industrial innovation, analysts pointed out.
On September 22, 2016, China, the world’s largest IT products exporter, started cutting import duties on 201 IT products covered by the Information Technology Agreement (ITA), a global technology trade pact under the World Trade Organization (WTO), according to the Ministry of Finance.
The products include integrated circuits, touch screens, semiconductors and medical devices. The government also promised to reduce tariffs to zero on these products within seven years.
In 2015, over 50 countries, including China, reached an agreement at a WTO meeting in Nairobi, Kenya to begin implementing their tariff commitments to the ITA by July 1, 2016, while the timetable is subject to the completion of each country’s domestic procedural requirements.
China’s legislature passed a bill in September 2016 to ratify an amendment to the ITA.
“The ratification and implementation of the amendment will be in the interests of China’s drive to build an open economic system and to accelerate the development of domestic IT industry amid international competition and cooperation,” said the National People’s Congress Foreign Affairs Committee in a review report to the lawmakers.
The move meant that China would play a bigger role in participating in global resources relocation and move higher in the global industrial value chain thanks to lower import costs, according to Bai Ming, a researcher with the think tank of the Ministry of Commerce.
Global trade of the 201 IT products is valued at US$1.3 trillion, which is approximately 10% of total world trade. China’s foreign trade volume of the goods is approximately one-quarter of the amount, according to Lou Jiwei, head of the Customs Tariff Commission of the State Council. For more information, click on the following link: http://en.people.cn/n3/2016/0917/c90000-9115739.html.
On September 22, 2016, Chinese authorities announced the conditional lifting of a 13-year import ban on some U.S. boneless beef and beef on the bone.
The removal of the ban applies to cattle that are under 30 months old, according to a joint statement issued on September 22, 2016 by the Ministry of Agriculture and the General Administration of Quality Supervision, Inspection and Quarantine.
The authorities said China would allow imports of beef that comply with China’s traceability and quarantine requirements.
China has banned imports of most U.S. beef since 2003, partly due to the concerns over the spread of bovine spongiform encephalopathy, also known as “mad cow disease.” The lifting of the ban will be subject to the completion of detailed quarantine requirements, which will be announced at a later date, the statement said.
On September 20, 2016, Premier Li Keqiang told business groups in New York that China would soon resume imports of U.S. beef.
Li’s remark regarding Chinese shoppers soon having a greater choice of beef sparked a rally in U.S. cattle futures, which closed at just under 1% higher at US$1.085 per pound at the Chicago Mercantile Exchange on September 21, 2016.
U.S. cattle futures fell to a six-year low in September 2016 as supplies have expanded in the country, with a glut of cold storage beef, and China offers a potential outlet, The Wall Street Journal reported.
In the first six months of 2016, China imported 295,721 metric tons of beef, jumping 60.8% year-on-year. The value of imported beef reached US$1.3 billion, up 48.3% year-on-year, according to the General Administration of Customs.
Because of rising feed prices, limited grazing land and the breeding cycle, China’s cattle-raising sector lags behind consumer demand, resulting in higher beef prices in the past five years, according to a report by the Chinese Academy of Agricultural Sciences.
For more information, click on the following link: http://www.chinadaily.com.cn/business/2016-09/23/content_26873446.htm.
Action Targets a Company and Four Individuals Facilitating Transactions for Designated North Korean Entity
WASHINGTON – Today the U.S. Department of the Treasury’s Office of Foreign Assets Control (OFAC) designated one company and four individuals tied to the Government of North Korea’s proliferation of weapons of mass destruction (WMD). Specifically, OFAC imposed sanctions on Dandong Hongxiang Industrial Development Company Ltd (DHID) for acting for or on behalf of Korea Kwangson Banking Corporation (KKBC), which was previously designated by the United States and the United Nations for providing financial services in support of WMD proliferators. OFAC also designated Ma Xiaohong, Zhou Jianshu, Hong Jinhua, and Luo Chuanxu for acting for or on behalf of DHID.
These designations were made pursuant to Executive Order (E.O.) 13382, which targets WMD proliferators and their supporters. As a result of today’s action, any property or interests in property of DHID, Ma Xiaohong, Zhou Jianshu, Hong Jinhua, and Luo Chuanxu in the possession or control of U.S. persons or within the United States are blocked. Additionally, U.S. persons are generally prohibited from engaging in transactions involving these designated persons.
In a related action, today the U.S. Department of Justice unsealed criminal charges against DHID, Ma Xiaohong, Zhou Jianshu, Hong Jinhua, and Luo Chuanxu for conspiring to evade U.S. economic sanctions and violating OFAC’s Weapons of Mass Destruction Proliferators Sanctions Regulations as well as conspiracy to launder money instruments. Additionally, the U.S. Department of Justice announced the filing of a civil forfeiture action for all funds contained in 25 bank accounts belonging to DHID and its front companies and a request for a restraining order to be sent to China for all of the funds based upon the allegation of the United States that the funds represent property involved in money laundering.
“Today’s action exposes a key illicit network supporting North Korea’s weapons proliferation,” said Adam J. Szubin, acting Under Secretary for Terrorism and Financial Intelligence at the U.S. Department of the Treasury. “DHID and its employees sought to evade U.S. and UN sanctions, facilitating access to the U.S. financial system by a designated entity. Treasury will take forceful action to pressure North Korea’s proliferation network and to protect the U.S. financial system from abuse.”
OFAC designated China-based DHID for acting for or on behalf of North Korean-based KKBC. Specifically, DHID used an illicit network of front companies, financial facilitators, and trade representatives to facilitate transactions on behalf of KKBC. Ma Xiaohong, Zhou Jianshu, Hong Jinhua, and Luo Chuanxu were designated for acting for or on behalf of DHID.
KKBC was designated by OFAC under E.O. 13382 and the UN pursuant to UN Security Council Resolution (UNSCR) 2270 for providing financial services in support of the previously designated entities Tanchon Commercial Bank and the Korea Hyoksin Trading Corporation. Both of those entities were designated pursuant to E.O. 13382 and UNSCR 1718 for their roles in North Korea’s WMD and missile programs.
This update was provided by the U.S. Department of the Treasury. Click here for more: https://www.treasury.gov/press-center/press-releases/Pages/jl5059.aspx
BEIJING – The Aviation Industry Corp of China (AVIC) will promote its new generation aircraft at China’s upcoming aerospace trade show, the aircraft manufacturer said Thursday.
The company’s heavy transport aircraft Y-20 and stealth fighter J-31, the major models in the new series, will be demonstrated at the 11th China International Aviation and Aerospace Exhibition, which opens on Nov. 1 in the southern port city of Zhuhai, Guangdong Province.
The new planes represent AVIC’s advances toward the fourth generation of aircraft technology, the company said.
In June, the first two Y-20 planes were delivered to the People’s Liberation Army Air Force after nearly a decade of design, manufacture and test flights. With a maximum takeoff weight of around 200 tonnes, the large freighter plane is ideal for transporting cargo and people over long distances in diverse weather conditions.
As a major aerospace and defence company in China, AVIC has developed a series of advanced fighters, helicopters and airborne early warning aircraft, and exported many models.
The six-day air show has been held in Zhuhai every two years since 1996.
See article here: http://www.chinadaily.com.cn/business/2016-09/09/content_26747757.htm
China’s imports in August rose for the first time in nearly two years while the decline in exports decelerated, signaling that government measures to stabilize growth may have taken effect, experts said on Thursday.
Dollar-denominated imports beat expectations to increase by 1.5 percent year-on-year, reversing a 12.5 percent slump in July.
Exports in dollar terms fell 2.8 percent year-on-year, the slowest pace in four months, according to data from the General Administration of Customs.
Factors including a rebound in commodities prices, improved domestic and overseas demand, and a weaker yuan may have contributed to the better-than-expected trade data in August, experts said.
Guo Yanhong, chief strategist at Founder Securities Co, said that the improved trade data also pointed to the effective government measures to stabilize growth, including expansion of infrastructure projects and strong property sales, which helped lift domestic demand and boost import growth.
Official data showed that China’s iron ore imports jumped 9.3 percent in August from a year earlier, while coal imports rose by 12.4 percent.
“The improvement in imports could last until September but any adjustment in China’s property market could once again weigh on imports,” Guo said.
Zhao Yang, an economist at Nomura Securities Co Ltd, said that the surprising surge in imports in August may be more transient than long-lasting.
Read the full article here: http://www.chinadaily.com.cn/business/2016-09/09/content_26745496.htm
Shanghai is keen to deepen the reform of becoming a global shipping hub with continuous higher throughput capacity of cargos, upgraded airport construction and comprehensive shipping services in the Yangtze River Delta.
According to the 13th Five-Year Plan on forming Shanghai to be a global shipping center, released today by the municipal government, Shanghai port is expected to remain the leading global pivotal port, with an annual throughput capacity of containers for 42 million TEUs. The annual throughput capacity of passengers’ visits in airports is expected to reach 120 million.
“The under construction of the fourth phase of Yangshan Deep-water Port is an automated terminal project, which will be put in trial production by next year, with an extra 4 million TEUs,” said Zhang Lin, deputy director of the Shanghai Municipal Transportation Commission.
In the cruise industry, Shanghai port is planned to become one of the largest cruise ports in the Asia Pacific region and the home port of more than 12 to 15 cruise ships, with a total number of 1.5 to 2 million visits by tourists.
By the year of 2020, the city aims to become a global shipping hub gathering high-level shipping resources, offering comprehensive shipping services and efficient logistics, and having the capability of resource allocation.
See article here: http://www.chinadaily.com.cn/business/2016-09/08/content_26743178.htm