US and China make progress on phase one trade deal
US and Chinese negotiators stressed their commitment to the “phase one” trade deal in a phone call where both sides said they had seen progress, even as relations between the world’s two largest economies deteriorate in many areas. The two countries discussed steps China has taken, including ensuring greater protection for intellectual property rights and removing hindrances to American companies in financial services and agriculture, US Trade Representative Robert...
Read MoreUS customs brokers, forwarders cautiously trickle back to offices
After several months of stay-at-home orders, America’s customs brokerage and freight forwarding firms are preparing to reopen their offices in the weeks and months ahead. However, these companies do not anticipate a return to pre-coronavirus conditions, industry experts say. “Our return-to-office plan considers that the future of work, as we have known it for all companies around the world, is shifting,” Marcia Lyssy, chief human resources officer for BDP International,...
Read MoreDonald Trump’s new tariff threats not expected to derail China trade deal, but Beijing may want to play for time
China will not cancel its phase one trade deal with the United States despite fresh tariff threats by US President Donald Trump, analysts say, but it may seek to postpone its commitments amid the global economic slowdown. Trump linked US-China trade war politics to accusations that China had covered up and mismanaged the outbreak of Covid-19, which has grown into a global pandemic, in an interview with Fox News on Sunday....
Read MoreThe Phase One Trade Deal: What’s in It for China?
By Faith Oktay Jan 18 2020 / The Diplomat Looking at the text, China’s commitments far outweigh the United States’. So why did Beijing sign on? The 80 pages of the main body of the “Phase One” agreement signed on Wednesday are packed with commitments by China but it is hard to find any from the United States. So why did China agree to this deal? The bulk of...
Read MoreChinese firms accused of dodging tariffs through ‘phantom trade’
By Lizzy Burden Jan 20 2020 / The Telegraph Chinese firms may be dodging billions in US tariffs by clandestinely channelling trade through other countries. Euler Hermes, which insures payments to exporters, shows in its annual global trade report that Asian exporters thought to have been winners in the trade war – taking the place of China as alternative exporters to the US – could be illegally rerouting goods...
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OFAC Enforcement Action against U.S. Aviation Company Shows the Importance of Ongoing Monitoring over the Course of a Contractual Relationship
Dec 9 2019 / Lexology Sanctions Contractual Provisions Were Insufficient to Avoid OFAC Liability On November 7, 2019, the U.S. Department of the Treasury’s Office of Foreign Assets Control (“OFAC”) announced a $210,600 settlement agreement with Florida-based Apollo Aviation Group, LLC (“Apollo Aviation”) to resolve 12 apparent violations of OFAC’s Sudan Sanctions Regulations (“SSR”).[1] OFAC determined that Apollo Aviation had leased three aircraft engines to a UAE company that...
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Removing sting of penalties for US export data errors
By Chris Gillis Dec6 2019 / American Shipper Agriculture shippers and forwarders work with CBP and Census in an effort to eliminate $5,000-$10,000 penalties for minor export data filing errors in the Automated Export System. U.S. Customs and Border Protection officials have taken to calling penalties for minor export information filing mistakes in the Automated Export System (AES) “parking tickets,” but it’s much more than that to America’s exporters...
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China says no ‘time limit’ on trade deal
Dec 4 2019/ CNA BEIJING: China echoed comments from President Donald Trump Wednesday (Dec 4), saying there was no deadline for signing a US-China trade deal, as tensions spiked between the two countries over human rights issues. On Tuesday, Trump warned that efforts to resolve the spat between the world’s top two economies could continue until after next November’s US election, triggering a selloff in global markets. When asked...
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Resilience360 Research Reveals 66% of Global Manufacturing Customers Have Been Impacted by the U.S.-China Trade War
By Will Haraway Dec 3 2019 / Resilience360 TROISDORF, Germany, Dec. 03, 2019 (GLOBE NEWSWIRE) — Resilience360 has released the results of a customer survey launched to assess the impact of the U.S.-China trade war for companies with global manufacturing networks. Among other findings, the results revealed that two-thirds (66%) of the nearly 300 customer respondents have been impacted by the business disruptions and significant operational challenges presented to...
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OFAC Settlement With Aviation Company Stresses End Use Verification
By Staff Writer Nov 21 2109 / The Export Compliance Journal The Office of Foreign Assets Control (OFAC) recently announced that it has reached a settlement with the Apollo Aviation Group. This story began when the Apollo Aviation Group, between 2013 and 2015, leased three of their aircraft engines to an entity incorporated in the United Arab Emirates (UAE). That seemingly innocent transaction turned complicated when the lessee proceeded...
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