Labeling

EU:             

The council of the European Union (EU) approved an updated cosmetics regulation to require cosmetics containing nanoscale ingredients to include such information on their labels.  (26 ITR 1651; 12/03/09)  

Customs 

Russia:         

New federal law No. 290-FZ amends Article 334 of the Russian Customs Code allowing for delayed payment of the applicable customs duties and taxes levied on imported aircraft and spare parts. (26 ITR 1653; 2/3/09) 

Intellectual Property 

U.S.:            

The Patent and Trade Office (USPTO) signed a memorandum of understanding on bilateral cooperation on intellectual property rights protection and enforcement with India. (26 ITR 1659; 12/03/09)  

Safe Guards 

China:          

China will request the World Trade organization (WTO) to determine whether U.S. safe guard duties on imports of Chinese tires violate trade rules through the imposition of a 35% additional duty on top of the normal 4% duty applicable to passenger vehicle and light truck tires. (26 ITR 1738; 12/17/09)

International Finance 

UN:             

 The U.N. Economic and Social Commission for Asia and the Pacific (UN/ESCAP) released a report that export-led countries show the most promise for growth in 2010 with China at 9%, India by 7.5%, Indonesia by 5%, and Singapore, the Philippines, Taiwan and Malaysia at 3.5%. (26 ITR 1706; 12/10/09)  

Foreign Investment 

Egypt:          

Egypt is anticipating to establish three more Qualified Industrial Zones (QIZs) to attract more foreign direct investment other than the textile industry. (26 ITR 1715; 2/10/09) 

Taxation Incentives for Auto Manufacturers 

Brazil:          

A decree was signed extending fiscal incentives for foreign auto manufacturers with operations in the poorer states of Brazil. (26 ITR 1663; 12/3/09) 

Trade: 

U.S.:            

S. 2821 was introduced as the Trade Reform, Accountability, Development and Employment (TRADE) to establish new principles for free trade on labor and environment, food and product safety, investment, services, government procurement, intellectual property and trade enforcement. (26 ITR 1640; 12/3/09) 

Intellectual Properties 

U.S.:            

The Patent and Trademark Office of the Department of Commerce announced a “Green Tech Pilot Program” to allow inventors who previously submitted patent applications to apply for “special accelerated” status “for technologies that materially contribute to enhancing environmental quality" such as the discovery or development of renewal energy sources, energy efficient utilization or greenhouse gas reduction. (26 ITR 1694; 12/10/09) 

Agriculture 

U.S.:            

The Senate approved a provision in the Omnibus Appropriations bill that will facilitate sales of U.S. agricultural exports to Cuba. (26 ITR 1744; 2/17/09)  

Import Violations 

U.S.:            

The FDA debarred seafood importer, Virginia Star Seafood Corporation of Fairfax, Virginia and sentenced president Peter Xuong Lam to 20 years in prison for conviction on four felony counts related to the mislabeling of imported fish products to avoid federal anti-dumping duties. (26 ITR 1747; 12/17/09)  

Iran Sanctions 

U.S.:            

HR 2194 was approved by the Foreign Affairs Committee to expand the scope of the Iran Sanctions Act of 1996 providing a menu of sanctions including denial of U.S. Export-Import Bankassistance and denial of government permission to export products for companies that violate the law regarding the energy infrastructure of Iran. (26 ITR 1748; 12/17/09)  

Government Procurement 

Canada:       

The Canadian International Trade Minister stated Canada is reviewing the U.S. stimulus legislation containing new Buy American provisions in the legislation passed by the House (HR 2847) “The Jobs for Main Street Act.” (26 ITR 1758; 12/24/09)  

Export Financing 

Colombia:    

Febe Durang-Rueda pleaded guilty in a conspiracy to defraud the U.S. Export-Import Bank before the U.S. District Court for the District of Columbia as a result of the submission of a fraudulent loan application and fraudulent financial statements. (26 ITR 1668; 12/3/09)  

Customs 

U.S.: 

U.S. and Mexico have signed a “Deed Declaration of Principles” setting forth goals and expands on the June bilateral agreement to improve security along the border for the movement of authorized people and goods. (26 ITR 1710; 2/10/09)  

Sources:BLR- Bloomberg Law Reports Antitrust & Trade; BNA - BNA, Inc.Highlights: International Trade Daily (ITD), International Trade Reporter (ITR), International Trade Reporter Decisions (ITRD), TMIJ-Tax Management International Journal; IL - International Lawyer, SMU School of Law; FT- Financial Times; TE - The Economist Magazine; GATM - German American Trade Magazine of the German American Chamber of Commerce; WSJ - Wall Street Journal; ILN/ABA-International Law News, American Bar Association; International Law News, ILN (American Bar Association); Nishith Desai Associates FEMA Hotline(nda@ndalaw.com); LB- LehmanBrown China Business Insights International Accountants.