Imports of products in carbon-intensive industries outside the EU will soon be regulated by the Carbon Border Adjustment Mechanism On 13 December 2022, a provisional agreement has been reached between the EU Council and the European Parliament on the Carbon Border Adjustment Mechanism (“CBAM”). This mechanism will be set up to align the price of carbon for EU products covered by the EU Emission Trading Scheme (“ETS”) with the price of carbon for imported goods…
Russia was deemed a market economy under US antidumping law since 2002 In brief On November 9, 2022, the US Department of Commerce (“DOC”) revoked Russia’s market economy status for the purpose of US antidumping law. Russia’s re-designation as a non-market economy (“NME”) – an economy where prices are set by the government rather than through supply and demand – means that, in future antidumping cases, the DOC can use special dumping calculation methods that…
Seeking public comments On November 18, 2022, the US Department of Commerce (“DOC”) published a notice of a proposed change to its particular market situation (“PMS”) methodology. Since the 2015 expansion of the DOC’s PMS authority, the DOC has been using the PMS methodology in the calculation of antidumping duty rates when it considers that there is a market distortion in the exporting country under investigation, such as the availability of low-priced energy, which reduces…
On 14 November, the UK Government confirmed that it would continue to recognise the CE marking in Great Britain for another two years (until 31 December 2024) giving businesses extra time to prepare for the mandatory introduction of the UK Conformity Assessed (UKCA) marking. Businesses can continue to use the new UKCA marking voluntarily until then, giving them flexibility to choose which marking to apply. The UKCA marking announcement covers most types of goods which…
On Monday 31 October 2022 the European Commission published the updated Combined Nomenclature (CN) for 2023. The publication of the 2023 CN can be found here: EUR-Lex – 32022R1998 – EN – EUR-Lex (europa.eu). The most significant updates to the CN relate to – amongst others: Addition of new subheadings to better monitor particular items and account for changes in requirements related to statistics, commercial policy, and technological and commercial developments (e.g. ‘critical raw materials’…
Baker McKenzie’s Insight Plus Blog published “Argentina: Oil and gas – Regulation to accelerate the import process for Vaca Muerta,” which can be viewed here.
Retroactive TP-adjustments – whether upwards or downwards – Highest German Court rules that they do not have an impact on the customs value. On 17 May 2022 (published end of September 2022) the German Federal Fiscal Court (or: Bundesfinanzhof. “BFH”) – which is the Highest court for tax related matters in Germany – gave its final judgement in the (in)famous Hamamatsu case. This proceeding is part of the referral to the European Court of Justice…
Baker McKenzie’s International Commercial & Trade Blog published “Regional Comprehensive Economic Partnership Agreement (RCEP),” which can be viewed here.
At the end of last month the UK government announced a range of proposed measures to ease the transition to the new UK Conformity Assessed (UKCA) regime that will replace the EU’s CE marking regime for the Great Britain market (England, Scotland and Wales) in respect of most types of CE marked products from the start of 2023. Note, products sold in Northern Ireland will continue to need to be CE marked as a result…
On June 9, 2022, the European Court of Justice (ECJ) issued its decision in case C-599/20 (Baltic Master UAB). This case provides more clarity on the concept of related persons, which allows customs authorities to disregard the transactions value and instead use different valuation methods to determine the customs value of imported goods. EU customs law provides for an exhaustive list in determining when (legal) persons are related and in which situations customs authorities can…