Miscellaneous International Trade Notices
The Office of the U.S. Trade Representative (USTR) has issued a press release announcing that on June 30, 2007, the U.S. and Korea signed the U.S.-Korea Free Trade Agreement (KORUS-FTA). According to the press release, the KORUS-FTA is the most commercially significant FTA the U.S. has concluded in nearly 20 years. (USTR press release, dated 06/30/07, available at http://www.ustr.gov/Document_Library/Press_Releases/2007/June/United_States_the_Republic_of_Korea_Sign_Lmark_Free_Trade_Agreement.html.)
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1. U.S. and Korea Sign KORUS-FTA on June 30, 2007
2. U.S., New Zealand Sign Mutual Recognition Pact Regarding Cargo Security
Shippers' NewsWire reports that the U.S. and New Zealand have signed an arrangement to cooperate on cargo security along internationally accepted standards. Under this arrangement, New Zealand will verify the security controls of exporters who have applied to the program, and U.S. Customs and Border Protection (CBP) will qualify the results for similar treatment in its Customs-Trade Partnership Against Terrorism (C-TPAT) program. (SNW, 07/02/07, www.americanshipper.com)
3. Trade Promotion Authority/"Fast Track" Expired on June 30, 2007
The Journal of Commerce Online reports that President Bush has lost his power to seal "fast-track" trade agreements without intervention from Congress (Trade Promotion Authority (TPA)). House Speaker Nancy Pelosi and Ways and Means Committee Chairman Charles Rangel have stated that their legislative priorities do not include the renewal of fast-track authority. (JoC, 07/02/07, www.joc.com)
4. China Seizes Shipments of U.S. Orange Pulp and Apricots
The Canadian Broadcasting Corporation (CBC) reports that Chinese inspectors have seized shipments of U.S.-made orange pulp and dried apricots containing high levels of bacteria and preservatives. According to the Web site of China's General Administration of Quality Supervision, Inspection and Quarantine, local Chinese departments have been ordered to "strengthen quarantine and inspections on food imports from America." CBC states that the move appeared to be the latest attempt by China to show it is not the only country with food export safety problems. (CBC article, dated 06/26/07, available at http://www.cbc.ca/consumer/story/2007/06/26/china-trade.html)
5. OFAC Issues General License to Allow Palestinian Authority Transactions
On June 20, 2007, the Office of Foreign Assets Control issued General License No. 7 to authorize U.S. persons to engage in all transactions with those in the Palestinian Authority who are not affiliated with the designated terrorist group Hamas. OFAC notes that U.S. persons should be aware that dealings with designated terrorist entities such as Hamas or other designated persons remain prohibited. (OFAC guidelines, posted 06/28/07, available at http://www.treas.gov/offices/enforcement/ofac/programs/terror/ns/pal_guide.pdf)
6. Recent CPSC Press Releases on Recalls
The Consumer Product Safety Commission has issued separate press releases (dated 06/01/07 - 06/30/07) announcing that the following companies, in cooperation with the CPSC, are voluntarily recalling the products listed below. Due to the large number of recalls, this is Part II of a two-part series of summaries. (Press releases available at http://www.cpsc.gov/cpscpub/prerel/prereljun07.html)
Code Legend according to releases: D - Distributor, I - Importer, M - Manufacturer, N/A - Not Applicable, R - Retailer, W - Wholesaler, A - Agent. |