International Law Bulletin - Vol. 15, No. 5
INTERNATIONAL BUSINESS AND TRADE
Trade Policy
WTO:
The G-20 leaders of the World Trade Organization (WTO) renewed a pledge to refrain from raising new barriers to investment or trade in goods and services through the end of 2010 and to promptly notify the WTO of any new protectionist trade measures (26 ITR 666; 5/21/09).
Taxation
Russia:
A new list of value-added tax exempt equipment may be imported into Russia including items such as engines, compressors, agriculture machinery, pumps, medical equipment, packaging and equipment and machinery for the textile industry (26 ITR 673; 5/21/09).
Dumping
WTO:
A surge in new anti-dumping investigations and orders was experienced in the later half of 2008 as a 17% increase over the same period in 2007 and a 41% jump over the first half of the year for a group of WTO countries including Brazil, Chile, Colombia, Costa Rica, Hong Kong, Israel, Japan, Mexico, Norway, Singapore, South Korea, Switzerland, Taiwan, Thailand and Turkey that expressed concern in a joint statement submitted to the DOHA negotiating group emphasizing the need for the DOHA round to strengthen WTO disciplines on the use of such measures (26 ITR 637; 5/14/09).
India:
India imposed a temporary anti-dumping duty on certain cold-rolled stainless steel products which shall be added to the 5% already assessed against the United States, China, Japan, Korea, EU South Africa, Taiwan and Thailand which account for 96% of Indian steel imports in this category (26 ITR 588; 4/30/09).
Automotive
Japan:
The government will offer expanded tax relief and new subsidies for environmentally friendly commercial vehicles with subsidies for taxi, bus and trucking companies powered by compressed natural gas, clean diesel, electricity and hybrid systems (26 ITR 616; 5/7/09).
INTERNATIONAL AGREEMENTS AND INVESTMENT
Foreign Investment
US:
The House Trade Subcommittee is conducting a review of the model investment treaty used by the United States as a starting point when negotiating a bilateral investment treaty (BIT) (26 ITR 666; 5/21/09).
LEGISLATIVE & LEGAL DEVELOPMENTS
Energy
US:
H.R. 2454 (American Clean Energy and Security Act) is working its way through the House Energy and Commerce Committee as legislation effecting energy and climate change policy dealing with issues such as apportionment of emission allowances in the Cap-and-Trade approach for utilities, automakers and other industries (26 ITR 671; 5/21/09).
Pharma
US:
S.525 (Pharmaceutical Market Access and Drug Safety Act) would allow U.S. licensed pharmacies and drug wholesalers to import drugs from Canada, Europe, Australia, New Zealand and Japan and pass the savings on to consumers (26 ITR 672; 5/21/09).
Countervailing Duties
US:
H.R. 2378 (Currency Reform for Fair Trade Act) proposes to address exchange rate misalignment between the US dollar and the Chinese yuan as well as currencies of other major trading partners (21 ITR 675; 5/21/09).
Taxation
China:
The State Council outlined increasing tax rebates on high tech machinery products to be exempt from the VAT. (26 ITR 676; 5/21/09).
Duties
US:
The 2004 Miscellaneous Trade Bill did not suspend the statutory requirement that draw-back claims be filed within three years of the date of export according to the U.S. Court of Appeals Federal Circuit (Aectra Refining and Marketing, Inc. v. U.S., Fed.Cir., No. 2008-1356; 5/08/09) (26 ITR 682; 5/21/09).
Customs
US:
The US Court of International Trade (CIT) properly classified Almond Crunch as prepared almonds under the Harmonized Tariff Schedule of the United States (HTSUS).2008.19.40. May Food Manufacturing d/b/a Mrs. May's Naturals v. U.S., Ct.Int'l.Trade No. 06-00329 (Slip Op. 0936), 5/1/09 (26 ITR 653; 5/14/09).
Dumping
US:
A Chinese honey importer and honey manufacturer were arrested and charged in federal court with conspiring to avoid import fees on Chinese honey by claiming it was manufactured in Thailand and the Philippines (US v. Chung Poe Liu W.D. Wash., No. 2:09-MJ-00217-MAT; 5/5/09) (26 ITR 655; 5/14/09).
Trade Adjustment Assistance
US:
The Commerce Department Economic Development Administration (EDA) is proposing rules to bring the trade adjustment assistant program into compliance with changes made by the American Recovery and Reinvestment Act allowing service sector firms to seek technical assistance and facilitating a trade-impacted community to provide information about actual or threatened loss of jobs caused by competition from imports (May 5 Federal Register, 74 F.Ed.Reg. 20647) (5/5/2009); (26 ITR 606; 5/7/09).
US:
A Chinese furniture pleaded guilty to smuggling baby cribs made of the internationally protected "Ramin". (U.S. v. Style Craft Furniture Co., D.N.J., No. 1:08-CR-00279-RMB-2, 5/1/09) (26 ITR 621; 5/7/09).
PROTECTION AGAINST TERRORISM
Sanctions
US:
Several legislative initiatives have been introduced in Congress to stiffen U.S. economic sanctions against Iran including approving legislation that would punish U.S. and foreign companies which operate in Iran legally including H.R.1327, H.R. 7112, and S.908 (26 ITR 624; 5/7/09).
Sources: IR - Interpreter Releases, Federal Publications, Inc.; Financial Times (FT); ITR - International Trade Reporter, Bureau of National Affairs, Inc.; IB-Bender’s Immigration Bulletin; ILT - Immigration Law Today, American Immigration Lawyers Association Monthly Journal; IL - International Lawyer, SMU School of Law; FT- Financial Times; TE - The Economist Magazine; GATM - German American Trade Magazine published by the German American Chamber of Commerce; WSJ - Wall Street Journal; ILN/ABA-International Law News, American Bar Association; TMIJ-Tax Management International Journal, Bureau of National Affairs, Inc.; AILA - American Immigration Lawyer’s Association
The articles published in this newsletter are intended only to provide general information on the subjects covered. The contents should not be construed as legal advice or a legal opinion. Readers should consult with legal counsel to obtain specific legal advice based on particular situations.