Asia Times reports that China recently concluded its three-day Central Economic Work Conference with a pledge to shift its monetary policy from "prudently expansionary," an approach it has followed for the past 10 years, to "tight." (Asia Times, dated 12/07/07, available at http://www.atimes.com/atimes/China_Business/IL07Cb01.html)
The Journal of Commerce reports that Canada's economic dependence on the U.S. is looser than it used to be, but that slow demand in the U.S. and the rising value of the Canadian dollar is still hurting Canadian exports. (JOC, dated 11/12/07, available at www.joc.com)
The Treasury Department has issued a press release announcing that Treasury Secretary Henry Paulson will lead the U.S. delegation to China next month for the next meeting of the U.S.-China Strategic Economic Dialogue. This third Cabinet-level meeting will focus on integrity of trade, balanced economic development, energy conservation, financial sector reform, environmental sustainability, and advancing bilateral investment. (Treasury press release, dated 11/20/07, available at http://www.treas.gov/press/releases/hp694.htm)
On November 13, 2007, the House of Representatives passed H.R. 1534, the Mercury Export Ban Act of 2007, which would prohibit certain sales, distributions, and transfers of elemental mercury; prohibit the export of elemental mercury; etc. After being passed by the House, H.R. 1534 was referred to the Senate Environment and Public Works Committee. (Congressional Record, dated 11/13/07, available at http://thomas.loc.gov/cgi-bin/query/B?r110:@FIELD(FLD003d)@FIELD(DDATE20071113).
American Shipper reports that U.S. Customs and Border Protection officials plan to meet with their Chinese counterparts in Beijing in December to work out the details on allowing U.S. inspectors in China to verify security compliance of manufacturers and logistics providers whose customers participate in the Customs-Trade Partnership Against Terrorism (C-TPAT) program. (AS, dated 11/15/07, www.americanshipper.com)
The Canada Border Services Agency has issued a press release announcing that on December 1, 2007, the government of Canada will reduce the application fees (currently $80) for the NEXUS and Free and Secure Trade (FAST) programs to $50, which will coincide with current U.S. application fees. (CBSA press release, dated 10/24/07, available at http://www.cbsa.gc.ca/media/release-communique/2007/1024ottawa-eng.html)
U.S. Customs and Border Protection has posted to its Web site a notice providing details on the enhancements to the Automated Commercial Environment account type for importers that were implemented with the deployment Entry Summary, Accounts, and Revenue (ESAR) A1.
The Office of Foreign Assets Control has issued a final rule, effective October 31, 2007, which revises its sanctions programs with respect to terrorists and terrorism to add a new general license authorizing all transactions with the Palestinian Authority, as defined in the general license, as of June 20, 2007.
U.S. Customs and Border Protection has posted to its Web site a notice providing details on the enhancements to the Automated Commercial Environment account type for brokers that were implemented with the deployment Entry Summary, Accounts, and Revenue (ESAR) A1.
The Office of Foreign Assets Control has issued a final rule, effective October 31, 2007, which amends the Sudan Sanctions Regulations (SSR) at 31 CFR Part 358 to include several new provisions which implement Executive Order 13412.