Baker McKenzieâs Canadian international trade and customs team is publishing a series of articles reviewing 2024 trade and customs compliance developments and looking ahead to 2025âs burgeoning issues. This article focuses on Canada’s customs regime. Before we dive into the customs outlook, here is an overview of the current state of politics in Canada, which includes a discussion of the legislative powers that remain while Canadian Parliament is prorogued until March 24, 2025. (Click the…
Transfer pricing refers to the pricing of transactions between related parties within a multinational corporation, and ensuring these prices reflect market conditions and are not influenced by the partiesâ relationship. Incorrect transfer pricing and customs valuations, including when importing goods across the Canada-US border, can lead to significant financial consequences, making it crucial for organizations to understand and apply the arm’s length principle.In this episode of In Focus, Baker McKenzie’s Julia Webster, Chris Raybould and Patrick de Laperouse…
As a result of the statement on migration, fentanyl and tariffs published by President Elect Donald Trump on November 25, 2024, Mexican President, Claudia Sheinbaum sent a letter to Mr. Trump expressing her concerns and the need to maintain the commercial partnership between the two countries. The letter was read by Mrs. Sheinbaum during her morning press conference of November 26, 2024 and was sent to Mr. Trump on that same day. A link to the…
Our annual Global Year-End Review of Import/Export & Trade Compliance Developments Conference is just one week away! If you haven’t registered yet, this is your final chance to sign up and secure your spot. We are holding this conference in a split-hybrid format, with an in-person event in Santa Clara, CA, on November 12 and virtual panels on November 19-21. In-Person Event l November 12 Join us for a crucial fireside chat post-US presidential election on âNavigating the Future of…
Published by Mexicoâs tax administration service on 14 October 2024 On 14 October 2024, the 2nd Resolution of Amendments to the Foreign Trade General Rules (FTGR) for 2024 and Annexes 1, 2, 5 and 24 were published in the evening edition of the Federal Official Gazette. The resolution became effective on 15 October 2024; while Annex 24 provisions will become effective on 14 November 2024; and amendments to legal forms related to import operations by…
As the final weeks of calendar-year 2024 draw to a close, we have highlighted some of the top trade issues impacting entities doing business in Canada and Canadian companies operating abroad. Businesses should continue to stay focused on trade compliance. We expect the developments noted below will occupy the time and attention of c-suite executives and trade compliance teams, alike. Summer 2024 was busy with government initiated-consultations focused on economic resilience and national security. After…
In keeping with tradition, we are pleased to invite you to our annual Global Year-End Review of Import/Export & Trade Compliance Developments Conference. The conference will provide valuable insights on the latest developments, challenges and opportunities in the ever-changing landscape of international trade. We are holding this conference in a split-hybrid format, with an in-person event in Santa Clara, CA, on November 12 and virtual panels on November 19-21. Please see details below. In-Person Event Join us for a crucial…
During a cabinet retreat focused on the economy, the Government of Canada announced the implementation of a 100% surtax on Chinese EVs, a 25% surtax on steel and aluminum products from China, limitations on EV tax incentives, and an additional consultation on proposed measures related to batteries, semiconductors, solar products and critical minerals. The Government cites the risk of trade diversion due to trade measures implemented by the EU (read our overview here) and USA (read our overview here) in its…
On July 2, 2024, the Government of Canada launched a 30-day consultation on proposed policy responses to surplus supply of Chinese electric vehicles (EV). This Consultation aims to canvas stakeholders on the Government’s policy responses to protect the growing Canadian EV industry from perceived unfair trade-practices in China and the risk of diversion of Chinese EVs to Canada following recent tariffs implemented by the United States (Section 301 tariffs) and the EU (provisional countervailing duties).…
On 12 June 2024, the European Commission proposed provisional countervailing duties for imports into the European Union (“EU”) of new battery electric vehicles designed for the transport of persons (“EVs”) originating from the People’s Republic of China. The pre-disclosure of the European Commissionâs proposal is published here. This pre-disclosure follows from the anti-subsidy investigation concerning EVs from the People’s Republic of China. Find our previous blogpost on that investigation here. The products in the scope…