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EU Drops Retaliatory Tariffs on US Jeans, Corn, Cranes and Glasses Frames to Almost Zero
May 1, 2019 |Europe

The European Union is setting to almost zero its long-standing retaliatory tariffs on certain U.S. products for U.S. distributions of antidumping and countervailing duties to affected U.S. industries, it said in a notice. With distributions amounting to only a few thousand this year, the tariff, which applies to corn of EU subheading 0710.40.00, jeans of EU subheading 6204.62.31, mobile cranes of heading 8705.10.00 and eyeglasses frames of former subheading 9003.19.00, will fall to 0.001%, down from 4.3% last year. The new tariff rates take effect May 1.

China's President Pledges to Increase Imports, Improve IP Protections
April 29, 2019 by Mara Lee|Asia Pacific

Chinese President Xi Jinping, speaking in Beijing to a group of 5,000, including 37 countries' prime ministers, presidents and vice presidents, said that China will continue to reform its economy in a number of ways, and that it intends to increase imports of good and services. According to an official English translation of the April 26 speech, Xi said, "China is both a global factory and a global market. With the world's largest and fastest growing middle-income population, China has a vast potential for increasing consumption. To meet our people's ever-growing material and cultural needs and give our consumers more choices and benefits, we will further lower tariffs and remove various non-tariff barriers."

EU Set to Reduce Collection of AD/CV Duties on Steel Products Hit by Safeguards
April 29, 2019 by Brian Feito|Top News

The European Union plans to temporarily end collection of antidumping and countervailing duties for some products that are subject to steel safeguards, it said in a notice in the April 26 Official Journal. For goods that are subject to AD/CV duties at a level below the 25 percent safeguard on steel recently established by the EU, the EU “considers appropriate that no anti-dumping or countervailing duty should be payable during the relevant period,” the notice said.

Mexican Ambassador Asks That US Congress Not Take USMCA Hostage
April 23, 2019 by Mara Lee|Tariffs and Trade Negotiations

Mexican Ambassador to the U.S. Martha Barcena, speaking April 22 at the Georgetown Law School conference on U.S. ratification of the new NAFTA, implored: "We need USMCA not to be taken as a political hostage. We need USMCA to be taken in its own merits." She also said, "We should not let politics stand in the way of free trade that has yielded benefits for both of our societies."