INTERNATIONAL BUSINESS AND TRADE
Data Protection
EU:
Companies may continue to rely on binding corporate rules to transfer data outside of the EU after the new privacy regime takes effect in May 2018 but should harmonize them with new requirements for Binding Corporate Rules (BCRs) (35 ITR 228; 2/15/18).
Dumping
U.S.:
The International Trade Commission (ITC) set duties ranging from 35% to 142% on steel wire rod from Ukraine and South Africa (35 ITR 258; 2/22/18).
The ITC found that U.S. industry was materially injured or threatened by imports of polyester fiber from China and India (35 ITR 259; 2/22/18).
The ITC ruled that the importation of Bombardier C Series jets by Delta Airlines does not pose a threat to the U.S. OEM aircraft (35 ITR 168; 2/1/18).
Trade Policy
Canada:
The Ontario provincial government will introduce a bill allowing the province to retaliate against any U.S. state which follows the U.S. Buy American procurement laws. (35 ITR 239; 2/15/18).
INTERNATIONAL AGREEMENTS AND INVESTMENTS
Trade
Japan:
Japan will seek compensation through consultations on U.S. tariffs on importation of solar cells and modules through the forum of the World Trade Organization (WTO) (35 ITR 250; 2/22/18).
Canada:
The national government has launched a full national security review of the takeover bid by a Chinese firm to purchase a Canadian construction company (35 ITR 236; 2/15/18).
LEGISLATIVE DEVELOPMENTS
Dumping
U.S.:
A bill is being drafted for submission in the Senate Finance Committee that would empower the Commerce Department to encourage the initiation of additional dumping and subsidy cases (35 ITR 254; 2/22/18).
Trade
U.S.:
A House measure would cut or eliminate tariffs on thousands of products imported from eligible developing countries and would be extended for another three years under H.R. 4979 to extend the Generalized System of Preferences (GSP) through December 31, 2020 (35 ITR 254; 2/22/18).
LEGAL DEVELOPMENTS
Trade
U.S.:
Import duties imposed on cloth (CIT) pet carriers were found to be too high by the Court of International Trade indicating that 17.6% was unreasonable and a new rate would be determined (Quaker Pet Group, LLC v. US, Ct. Int’l Trade, No. 13-00393, 2/12/18; 35 ITR 225; 2/15/18).
The Federal Circuit Court of Appeals ruled that anti-dumping duties on water treatment chemicals imported from China will not be reduced (35 ITR 251; 2/22/18).
EU:
The European Union (EU) seeks compensation from the imposition of tariffs on imports of solar cells and modules by the Trump Administration joining China, South Korea and Taiwan in requesting compensation from these tariffs through the WTO (35 ITR 228; 2/15/18).
INTERNATIONAL DEBT WATCH*
|
Gross Domestic Product
|
Ind. Prodn
|
Budget Bal.
|
|
|
Latest
|
QTR*
|
2017*
|
Latest
|
% GDP 2017
|
|
United States
|
+2.4 Q4
|
+2.6
|
+2.3
|
+3.7 Jan
|
-3.5
|
|
China
|
+6.8 Q4
|
+6.6
|
+6.8
|
+6.2 Dec
|
-4.3
|
|
Japan
|
+1.5 Q4
|
+0.5
|
+1.7
|
+4.4 Dec
|
-4.4
|
|
Britain
|
+1.5 Q4
|
+2.0
|
+1.7
|
Nil Nov
|
-2.9
|
|
Canada
|
+3.0 Q3
|
+1.7
|
+3.1
|
+4.7 nov
|
-1.7
|
|
France
|
+2.4 Q4
|
+2.5
|
+1.9
|
+4.5 Dec
|
-2.9
|
|
Germany
|
+2.9 Q4
|
+2.4
|
+2.5
|
+6.7 Dec
|
+1.2
|
|
Greece
|
+1.3 Q3
|
+1.2
|
+1.3
|
+0.2 Dec
|
-0.4
|
|
Italy
|
+1.6 Q4
|
+1.2
|
+1.5
|
+4.9 Dec
|
-2.3
|
|
Spain
|
+3.1 Q3
|
+2.8
|
+3.1
|
+2.8 Dec
|
-3.0
|
|
Turkey
|
+11.1 Q3
|
na
|
+6.7
|
+6.5 Dec
|
-1.5
|
|
Hong Kong
|
+3.6 Q3
|
+2.0
|
+3.7
|
+0.4 Q3
|
+4.2
|
|
South Korea
|
+3.0 Q4
|
-0.9
|
+3.1
|
-6.0 Dec
|
+1.0
|
|
Brazil
|
+1.4 Q3
|
+0.6
|
+1.0
|
+4.4 Dec
|
-8.0
|
|
Mexico
|
+1.8 Q4
|
+4.1
|
+2.1
|
-0.7 Dec
|
-1.1
|
*Excerpts from Economic and Financial Indicators published by The Economist, February 24h, 2018.
Sources: The Government Contractor (GC); Thomson Reuters Publishers; Federal Contracts Report, Bloomberg BNA, Bureau of National Affairs, Inc. (FCR); International Trade Reporter (ITR), International Trade Reporter Decisions (ITRD), TMIJ-Tax Management International Journal; IL – International Lawyer; FT – Financial Times; TE – The Economist Magazine; WSJ – Wall Street Journal; ILN/ABA-International Law News, American Bar Association; WorldECR; www.worldecr.com; London, England; Trade Security Journal (TSJ), London, U.K..
