On August 25, U.S. Customs and Border Protection (“CBP”) issued a draft Federal Register notice to effectuate the President’s Executive Order (“EO”) on “Addressing Threats to the United States by the Government of the Russian Federation,” which imposed additional tariffs on imports of Indian origin due to India directly or indirectly importing Russian oil. Under these new tariffs, imports of most goods of Indian origin will be subject to an additional 25% duty, effective August 27, which…
On August 6, President Donald Trump issued an Executive Order on “Addressing Threats to the United States by the Government of the Russian Federation,” imposing additional tariffs on Indian imports. Under these new tariffs imports of most Indian goods will be subject to an additional 25% duty, which will stack on top of the 25% duty on Indian imports taking effect on August 7, to result in a 50% effective duty. The Executive Order states…
On 6 May 2025, the United Kingdom (UK) and Indian Governments agreed a new ‘landmark’ free trade agreement (“FTA”) to increase long-term bilateral trade by £25.5 billion each year and drive economic growth in both countries. The UK Government believes the FTA will result in a £4.8 billion increase in UK GDP and a £2.2 billion increase in UK long-term year-on-year wages. The legal text of the agreement and regulatory details must first be finalised,…
The Trade Remedy Authority of Vietnam has issued Decision 460/QD-BCT on 21 February 2025 to impose the preliminary anti dumping duty rates against Hot-Rolled Steel (“AD rate”) from China and India. Accordingly, the AD rate only applies to HRS from China. HRS from India shall not be subject to the preliminary AD rate for the reason that the HRS import volume from India does not meet the regulatory minimum amount (3% of total HRS import…
On June 2, 2021, United States Trade Representative (USTR) Katherine Tai announced the conclusion of the one-year Section 301 investigations of Digital Service Taxes (DSTs) adopted by Austria, India, Italy, Spain, Turkey, and the United Kingdom. The final determination in those investigations is to impose additional tariffs of 25% on certain goods (specified in Annex A to each notice) from these countries, while suspending the tariffs for up to 180 days to provide additional time…
On March 26, 2021, the Office of the United States Trade Representative (USTR) announced the next steps in its Section 301 investigations of Digital Service Taxes (DSTs) adopted or under consideration by ten US trading partners. In January, USTR found that the DSTs adopted by Austria, India, Italy, Spain, Turkey, and the United Kingdom were subject to action under Section 301 because they discriminated against US digital companies, were inconsistent with principles of international taxation,…
On March 26, 2021, the Office of the United States Trade Representative (USTR) announced the next steps in its Section 301 investigations of Digital Service Taxes (DSTs) adopted or under consideration by ten US trading partners. In January, USTR found that the DSTs adopted by Austria, India, Italy, Spain, Turkey, and the United Kingdom were subject to action under Section 301 because they discriminated against US digital companies, were inconsistent with principles of international taxation,…
On January 12, 2021, the Office of the US Trade Representative (USTR) published in the Federal Register individual determinations regarding whether the Digital Services Taxes (DST) of India, Turkey and Italy are actionable pursuant to Section 301 of the Trade Act of 1974. India: USTR has determined that India’s DST is unreasonable or discriminatory and burdens or restricts US commerce and thus is actionable under Section 301. Based on information obtained during the investigation,…
On December 16, 2020, US Department of the Treasury delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. Treasury determined that both Vietnam and Switzerland are currency manipulators. For each country, Treasury assessed, based on a range of evidence and circumstances, that at least part of its exchange rate management over the four quarters through June 2020, and particularly foreign exchange intervention, was for…
The Chinese Ministry of Commerce announced that on October 23, the secretariat of the Asia-Pacific Trade Agreement (the “Agreement”) notified all member parties that Mongolia had deposited a letter of acceptance, and completed the Agreement accession procedures, and plans to be in January 2021. On the 1st, mutual tariff reduction arrangements were implemented with relevant members. According to the tariff reduction arrangement, Mongolia will reduce tariffs on 366 tax items, mainly related to aquatic products, vegetables…