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24 November, 2021 Legal Update

Trade Update: November 24, 2021

Trade Update: November 24, 2021


See the most recent trade news around the world, featuring the EU, US, China, and Australia.


China: New Foreign Food Facility Registration

New requirements for the registration of foreign food processing and storage facilities will enter into force in China on January 1, 2022. Nut & Dried Fruit products are among the plant and plant products listed in Article 7 of Decree 248.
 
Companies can register with the General Administration of Customs of the People’s Republic of China (GACC) using China’s website portal.
 
The China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-product (CFNA) breaks down the main points that concern Decree 248 – Regulations on the Registration and Administration of Overseas Producers of Imported Food. More information
 
The Australian Government has also gathered information to assist the industry to comply with GACC.

EU-US Agree on the Suspension of Tariffs Under Section 232, Steel and Aluminium Dispute

New provisions for measures concerning the EU-US dispute on steel and aluminum. On Sunday,  October 31, both parties agreed to suspend retaliatory tariffs related to the Steel and Aluminium dispute, and pause of WTO case.
 
In the case of the European Union, they intend to suspend as of January 1, 2022, the retaliatory tariffs against the US that were introduced in June 2018 in response to the US Section 232 tariffs on steel, aluminum, and derivative products. This also applies without interruption to the suspension of the increase in rebalancing measures set for December 1, 2021.
 
On the other hand, the US announced that they will no longer apply Section 232 tariffs in a stipulated amount of EU exports of steel and aluminum, to enter into force on January 1, 2022.
 
This means the EU will also suspend its 25% tariff for US peanut butter (code 2008 11 10) and concentrate cranberry (2009 81 11; 2009 81 19; 2009 81 31).
 
More information

EU-AUSTRALIA: Conversations Advance Towards Free Trade Agreement

Valdis Dombrovskis, European Commissioner for Trade, confirmed at the Foreign Affairs Council that took place on November 11, 2021, that EU-Australia Free Trade Agreement (FTA) negotiations will be retaken at the start of 2022.
 
The meeting was held to address the state of play of the World Trade Organization (WTO) reform. Representatives exchanged views and perspectives on this issue as well as the latest developments of the trade relations between US-EU.
 
Conversations between EU-Australia FTA had been at a standstill since the announcement of the submarine agreement between the UK, the US, and Australia, so-called the AUKUS alliance.
 
The gathering also included new commitments made by the European Commission under the Trade and Sustainability Agenda, such as the establishment of climate neutrality targets.
 
More information

US and China to Join TESSD Discussions for the Future Work of the WTO

WTO members held a meeting on November 4 to discuss the future work under the Trade and Environmental Sustainability Structured Discussions (TESSD). Delegates conveyed their support to the upcoming draft ministerial declaration that would set the stage of the platform to develop actions in areas like trade and climate change, among others. It will also help create a roadmap for their discussions in 2022.
 
Participants welcomed the US and China as new co-sponsors of the TESSD initiative. A total of 56 WTO members have already participated in the discussions. The initiative was launched at the end of 2020, seeking to collaborate, prioritize and advance discussions on trade and environmental sustainability, to advocate transparency and information sharing between members, as well as to identify future areas of work for the WTO.
 
More information
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