Last week, President Trump and his counterpart Prime Minister Abe of Japan reached a trade deal to cut tariffs and increase trade between the two nations.
Part of the deal includes Japan agreeing to reduce or cancel tariffs on American agricultural exports such as beef, corn, pork and fruit – with the US agreeing to reduce tariffs on bicycles, flowers, tea and other industrial products.
At the same time, the agreement prohibits future tariffs on streaming videos, music and video games.
If you have any questions about how the new trade deal with Japan will impact your business, contact experienced trade attorney David Hsu at 832-896-6288 or by email at email@example.com, firstname.lastname@example.org.
The Global Affairs Canada organization includes individuals, businesses (including SMBs), industry associations, experts, consultants, academics, civil society organization, labour unions, governments, indigenous groups, students and youth and other interested Canadian stakeholders.
In late July, Global Affairs Canada started discussions whether South Korea, Taiwan, Thailand and the United Kingdom should join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (“CPTPP”).
An announcement was published in the Canada Gazette, Part 1. Global Affairs Canada has has begun soliciting comments for whether these countries (and China) should join the CPTPP. The deadline for submissions is midnight, August 25, 2019.
The announcement asks for the following information:
1. Contributor’s name and address and, if applicable, the name of the contributor’s organization, institution or business;
2. The specific issues being addressed; and
3. Where possible, precise information on the rationale for the positions taken, including any significant impact it may have on Canada’s domestic or international interests.
Additionally, they would like feedback on specific markets that Canadians and businesses would support entry to the CPTPP.
The full text of the announcement and additional topics Global Affairs Canada would like feedback on can be found here:
The 11 countries that are part of the “Comprehensive and Progressive Trans-Pacific Partnership (CPTPP)” (formerly known as the Trans-Pacific Partnership), have agreed to expand the trade agreement and are seeking involvement of other Pacific nations.
Last week, the first meeting of the CPTPP was held in Tokyo where Ministers and Officials from Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam were in attendance.
The CPTPP issued a statement welcoming any new countries that can “meet CPTPP’s high standards and objectives”.
The CPTPP was enacted in December 2018 and proceeded after the Trump Administration removed the US from the deal. The next CPTPP meeting will be held in New Zealand and starting in 2020, each member nation will take turns hosting a meeting.
Contact our office if you have any questions how the trans-pacific partnership will impact your business. David Hsu, 832-896-6288 or by email at email@example.com.
According to the Vietnam.net Bridge website – Vietnam was voted in by the UN General Assembly for membership into the UN Commission on International Trade Law (UNCITRAL) last week.
The goal of UNICTRAL is to remove legal obstacles to international trade and Vietnam’s membership shows Vietnam’s increasing importance in trade in Southeast Asia. I believe the US-China trade war may help this along by pushing companies to seek other countries for manufacturing of goods to avoid the 10-25% duties on goods from China.
As written on my blog multiple times, Vietnam is also a party to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
When the terms of the Trans-Pacific Partnership (TPP) was agreed to in March 2018, the largest free-trade agreement in Asia would become effective upon ratification by six out of the 11 participating countries.
On Tuesday October 30th, Australia became the sixth country to ratify the pact meaning tariff cuts will take place as early as December, almost 2 years after President Trump withdrew the US from talks. Brunei, Chile, Malaysia, Peru and Vietnam have yet to ratify the deal.
It is estimated the new TPP trade deal will remove tariffs on an estimated 95% of goods traded among the 11 member countries and a combined GDP of $10 trillion.
If you have any questions how the new TPP deal may impact your business, feel free to contact experienced trade attorney David Hsu at any time, 832.896.6288 or by email at firstname.lastname@example.org.
According to Radio New Zealand, the Comprehensive and Progressive Trans-Pacific Partnership Agreement (CPTPP) will be in force around December of 2018 after New Zealand plans to be the first of six countries to ratify the agreeement.
As of today, Japan, Mexico and Singapore have ratified the agreement with Australia, Chile and now New Zealand soon to ratify.
In addition to the 11 countries, Colombia, Thailand and South Korea along with Britain also expressed interest in joining the CPTPP.
Channel News Asia reported last Thursday that Singapore ratified the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). Originally known as the Trans-Pacific Partnership, the name was changed after the Trump Administration withdrew US support for the TPP after some members would not agree to US terms regarding pharmaceuticals and intellectual property protections.
Since the new CPTPP was created, only 3 nations have ratified the agreement (with Mexico and Japan as the only two countries to ratify the agreement. However, last Thursday, Singapore became the third after signing the CPTPP.
Terms of the CPTPP agreement concluded in January 23rd of this year and signed on March 8th. There are still 8 more countries that need to sign in order to ratify the treaty. Once all countries sign, the CPTPP will be in force 60 days later.
As reported by the Kyodo News – the Japanese government enacted a law to ratify the TPP free trade deal. As you are aware, Japan and 10 other nations (Australia, Brunei, Canada, Chile, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam) continued negotiations with the free trade deal after the United States withdrew. The TPP deal requires at least 6 member countries to ratify the pact before it takes effect.
More TPP updates as they become available. If you have any trade or customs questions, please feel free to contact David Hsu at 832-896-6288 or by email at email@example.com.