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In Trade and Foreign Investment

United Kingdom introduces its new Developing Countries Trading Scheme (DCTS)

by , , and 3 Mins Read

On 19 June 2023, the UK’s new DCTS entered into force, replacing its previous Generalized Scheme of Preferences regime. Under the WTO Agreements, developed countries can grant non-reciprocal preferential treatment to products originating in developing and least developed countries, referred to as “special and differential treatment” (S&D) provisions, normally referred to as a GSP. Countries that grant preferential treatment through a GSP determine eligible countries and S&D provisions unilaterally.

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In Trade and Foreign Investment

Brazil: Antidumping sunset review on imports of welded steel pipes from Malaysia, Thailand and Vietnam

by 2 Mins Read

The Secretariat of Foreign Trade, by means of Circular No. 22, of 13 June 2023, published on 14 June 2023, opened an antidumping sunset review concerning Brazilian imports of welded steel pipes of austenitic stainless steel originated from Malaysia, Thailand, and Vietnam.
The duties remain in force throughout the investigation, and they may be renewed for another five years at the end of the proceeding.

In Employment

United States: California Assembly Bill 1228 would expose fast food franchisors to liability for franchisees’ wage, hour and other violations

by 4 Mins Read

California Assembly Bill 1228 or, the “Fast Food Franchisor Responsibility Act” seeks to make fast food franchisors liable for certain civil violations committed by their franchisees. The Bill was passed by the California Assembly on 31 May and awaits a vote in the Senate. If signed into law in its current form, the Bill would drastically increase the legal exposure of certain franchisors in the fast-food industry.

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In Trade and Foreign Investment

Africa: The African Growth and Opportunity Act nears its deadline

by 8 Mins Read

The African Growth and Opportunity Act (AGOA), which allows duty- and quota-free exports from eligible African countries into the United States, is due to expire in 2025. There has been much speculation that it might be replaced with new trade agreements between the two regions that will follow the free trade policies of the African Continental Free Trade Area agreement and the reciprocal trade initiatives promoted as part of the US’s Prosper Africa initiative. It has also been suggested that an evolved AGOA might be the way forward, creating an increasingly mutually beneficial trade relationship between the two regions.

In ESG

European Union: Draft rules governing transitional phase of Carbon Border Adjustment Mechanism and first call for feedback

by , and 2 Mins Read

The EU Carbon Border Adjustment Mechanism (CBAM) Regulation entered into force on 17 May 2023 and will take effect from 1 October this year with a transitional phase that lasts until the end of 2025.
In preparation for its introduction, on 13 June 2023, the European Commission published a first call for feedback on the rules governing the implementation of the CBAM during its transitional phase.

In Trade and Foreign Investment

Luxembourg: Introduction of a legal national framework for the screening of foreign direct investments

by 10 Mins Read

On 13 June 2023, the Luxembourg Parliament adopted Draft bill No. 7885 establishing a national screening mechanism for foreign direct investments likely to affect security or public order for the purposes of implementing Regulation (EU) 2019/452 of European Parliament and of the Council of 19 March 2019, establishing a framework for the screening of foreign direct investments in the EU, as amended (“Law“).

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In Trade and Foreign Investment

Global: 2023 Virtual Global Trade Conference

by and 1 Min Read

In lieu of our annual conference in Bellevue, WA, we are excited to again provide a Virtual Global Trade Conference available to all our clients and friends worldwide! The conference will be comprised of 90 minutes sessions over the course of two days. Join us on July 12 and 13 for any or all of the sessions and learn from our panel of experts as they share their insights on cutting-edge trade trends, regulatory updates and challenges, and major policy developments.

In Trade and Foreign Investment

Global: The WTO — a powerful but undervalued organization for customs valuation issues

by , and 4 Mins Read

World Trade Organization Members laid out several key principles for determining the customs value of imported goods in the 1995 Customs Valuation Agreement with the aim of ensuring that the value of Members’ tariff concessions would not be nullified or undermined. Nonetheless, the WTO is – incorrectly – seldomly considered as a relevant forum for addressing customs valuation issues.

In Trade and Foreign Investment

Philippines: NEDA issues implementing rules and regulations of the law removing foreign equity restrictions on public service companies

by , , , , , and 9 Mins Read

The National Economic Development Authority has issued the implementing rules and regulations of the amended Public Service Act or Republic Act No. 11659, which took effect on 4 April 2023.

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