On 2 April 2025, United States President Donald J. Trump has invoked his authority under the US International Emergency Economic Powers Act of 1977 (IEEPA) to impose the following tariffs on imports into the United States: Certain goods are not subject to the reciprocal tariffs (e.g., steel, aluminum and autos and auto parts subject to existing Section 232 tariffs [of the US Trade Expansion Act of 1962], copper, semiconductors, pharmaceuticals, lumber, certain energy and critical…
Baker McKenzieâs Global Customs Practice invites you to join us for a follow up webinar on “Trump and Tariffs: Section 232 Tariff Announcement, Reciprocal & Retaliatory Tariffs and More”This one-hour webinar will take place Thursday, 20 February 2025 at 10:00 CST / 11:00 EST / 17:00 CET.On February 10th President Trump announced that 25% tariffs will be imposed on all steel and aluminum products imported into the US from all countries, including Canada, Mexico, the EU and UK,…
US tariffs on imports of Chinese-origin products went into effect at 12.01am ET on February 4, 2025, with 10% duties being imposed on all imports of Chinese-origin goods. The executive order implementing the tariffs directs that in addition to imposing 10% tariffs on all goods of Chinese origin, low-value shipments of Chinese-origin goods are no longer eligible for duty-free entry under Section 321 of the Tariff Act of 1930 (19 USC 1321), significantly impacting e-commerce…
In brief The Ministry of Investment, Trade and Industry (MITI) has announced the resumption of Non-Preferential Certificate of Origin (NPCO) approvals for specific product categories to be exported to Russia, which include various types of ball or roller bearings. This follows a prior announcement regarding the temporary suspension of NPCO approvals for certain products to be exported to Russia effective 3 December 2024. In more detail Effective 1 January 2025, MITI has resumed issuing NPCO…
We are thrilled to announce the return of Baker McKenzie’s Asia Pacific Trade Conference, the premier flagship event for our Trade Practice Group in Asia Pacific where trade experts from 10 APAC jurisdictions will discuss the evolving geopolitical and trade regulatory landscape effecting supply chains in APAC. This conference is designed to equip you with the essential knowledge for navigating the ever-changing landscape as we share best practices for ensuring on-going compliance with trade and…
Joint Commitment of Singapore and Malaysia to establish a Special Economic Zone in Johor The signing of a memorandum of understanding on 11 January 2024 between Singapore and Malaysia reaffirms the longstanding ties and joint commitment by both countries to strengthen economic cooperation and the establishment of the Johor-Singapore Special Economic Zone (JSSEZ) which will be located in the state of Johor. Anticipated Tax, Customs & Trade Benefits While the JSSEZ is still in the…
Introduction Post-importation transfer pricing (âTPâ) adjustments have always presented great challenge for multinational companies doing business in China due to the lack of formal nationwide mechanism which simultaneously addresses the tax, customs and foreign exchange administration requirements, in order to allow customs valuation adjustment to be made in response to a post-importation TP adjustment. While a TP and customs aligned approach which was introduced in a pilot program in Shenzhen in 2022 allows retroactive TP…
On 12 April 2021, the General Administration of Customs of China (âGACCâ) issued Order No. 248, which sets out new requirements for the registration of qualified foreign food producers that are allowed to export food products to China, effective from 1 January 2022. This Order represents a significant move toward tightening up the regulation of foreign made food products imported into China. As the date of coming into force of the Order is fast approaching,…
On 16 May 2021, the Peopleâs Republic of China (PRC)âs Customs Tariff Commission of the State Council (CTC) issued Circular [2021] No. 5 to extend the effective period for the second product exclusion list for the second batch of US products subject to Chinese retaliatory tariffs from 19 May 2021 to 25 December 2021. Click here to see the announcement. The exclusion list covers 79 products in total, including certain industrial chemicals, textiles, metals, electric…
Chinaâs Export Control Law (âECLâ) came into effect on 1 December 2020, providing a framework to a series of separate administrative regulations on export controls issued prior to the lawâs enactment. While no implementing rules or regulations under the ECL have been enacted since its passage into law, Chinaâs Ministry of Commerce (MOFCOM) recently released Announcement No. 10 of 2021, on âInternal Compliance Guidelines on the Export of Dual-Use Itemsâ (hereafter, the âGuidelinesâ) pursuant to Article…