China announced plans to substantially reduce its use of plastic by 2025, which will include curbs on plastic waste imports, according to a Jan. 19 report from Xinhua, China’s state-run news agency. China said it will “gradually ban or restrict the production, sales and use of certain plastics” over the next five years, including introducing “prohibitions on … imports of plastic waste.”
Exports to China
China’s General Administration of Customs launched a “Smart Customs” initiative to incorporate “new-generation technologies to achieve smarter customs control,” according to a Jan. 16 press release. The initiative aims to better connect “all parties in the international supply chain,” the press release said.
The phase one “economic and trade agreement” the U.S. and China signed Jan. 15 will take effect in 30 days and can be terminated by either country with 60 days' written notice, the deal's text said. Phase one is “a big step toward normalizing our trading relationship with China,” the Consumer Technology Association said, but “market uncertainty remains until we see permanent tariff removal.” The National Retail Federation also welcomed phase one but said phase two “can’t come soon enough.”
The government of Canada issued the following trade-related notices as of Jan. 17 (note that some may also be given separate headlines):
China’s Ministry of Commerce released a Chinese version of the phase one U.S.-China trade deal on Jan. 16. The deal was signed Jan. 15 and includes a series of commitments by China to increase purchases of U.S. agricultural, manufacturing and energy-related goods (see 2001150073).
China’s General Administration of Customs recently announced that certain equipment, technology, components and spare parts are exempt from import tariffs, according to a Jan. 16 report from the Hong Kong Trade Development Council. The changes, which took effect Jan. 1, apply to goods that are imported for “self-use under contracts for domestic investment projects,” the report said. The items must also fall under the “encouraged” categories in China’s 2019 “Industrial Structure Adjustment Guidance Catalogue.” Although they are exempt from import tariffs, the goods remain subject to import-related value-added taxes, the report said.
China agreed to purchase a range of U.S. goods as part of the phase one deal signed Jan. 15, totaling about $200 billion worth of U.S. goods and services over the next two years. The deal covers a long list of agricultural products -- including pork, beef, processed meats, dairy and seafood -- along with increased Chinese imports of U.S. rice, energy products and $120 billion in purchases of U.S. manufactured goods this year.
China’s General Administration of Customs eliminated import inspection surveillance for certain fabrics, adult garments, textile machinery and cold-rolled steel, according to a Jan. 15 report from the Hong Kong Trade Development Council. The change took effect Jan. 1.
China will buy nearly $80 billion worth of additional manufactured goods from the U.S. over the next two years as part of the U.S.-China phase one trade deal (see 1912310010), according to a Jan. 14 report from Reuters. As part of the deal, China will also buy more than $50 billion worth of U.S. energy supplies and increase purchases of U.S. services by $35 billion over the same period, the report said. The agreement will also require China to increase its purchases of U.S. agricultural goods by $2 billion over two years at about $16 billion per year. The numbers, which represent a “staggering increase” over recent Chinese imports of U.S. manufactured goods, are expected to be announced Jan. 15 during a White House signing ceremony between President Donald Trump and China's Vice Premier Liu He, Reuters said. A China Foreign Ministry spokesman referred questions to the country's Commerce Ministry. “Please remain patient for a little while,” the spokesman said during a Jan. 14 press conference. “More information will come out in a couple of days.”
Export Compliance Daily is providing readers with some of the top stories for Jan. 6-10 in case you missed them.