China overhauled its e-commerce regulations in recent months, upping its de minimis level and adding new responsibilities for logistics providers and foreign suppliers, and also adopted new regulations on foreign medical device facility inspections. Meanwhile, China's General Administration of Customs has recently set new requirements for bonded zones and set lower value-added tax rates for some products. The following is an update on recent customs and trade-related actions by China:
A task force of sanctions policy experts published a list of trends that could have an impact on the future of U.S. sanctions, providing evidence of a U.S. shift toward unilateral foreign policy decisions and warning of unintended consequences from sanctions that are increasingly complex, according to a report commissioned by the Center for a New American Security.
The Treasury’s Office of Foreign Assets Control announced a $1.9 million settlement with a Connecticut-based industrial tool manufacturer and its China-based subsidiary after OFAC said the companies violated U.S.-imposed sanctions on Iran, according to a March 27 notice. The U.S. company -- Stanley Black & Decker -- and the Chinese subsidiary -- Jiangsu Guoqiang Tools Co. (GQ) -- attempted to export 23 “shipments of power tools and spare parts” worth more than $3 million to Iran from mid-2013 to the end of 2014, OFAC said.
Sanctions on North Korea have not been working, a United Nations Panel of Experts official told a House subcommittee on March 27, adding that North Korea has made no progress toward denuclearization.
Export Compliance Daily is providing readers with some of the top stories for March 18-22 in case they were missed.
The Canada Border Services Agency plans to again push back the sunset date for legacy release options as part of the Single Window Initiative and Integrated Import Declaration transition, a CBSA spokesman said by email on March 26. Other Government Departments (OGD) service options pre-arrival review system (PARS), or SO 463, and release on minimum documentation (RMD), or SO 471, were set for decommissioning on April 1, 2019, CBSA announced last year. CBSA recently told members of the trade that the sunset date for OGD PARS (SO 463) and OGD RMD (SO 471) will now be in October.
It is unclear if Treasury's most recent North Korean sanctions will be enforced after reports surfaced on March 26 detailing opposing positions among the president, the White House administration and the Treasury Department.
The United Kingdom’s HM Revenue & Customs is expanding the access and breadth of Transitional Simplified Procedures that will be put into place if the U.K. leaves the European Union with no transition deal, as is currently set to happen April 11. TSP will now be available at all U.K. ports if the U.K. leaves without a deal (instead of just roll-on, roll-off ports), and will give importers a longer grace period before they have to begin filing customs declarations and paying duties for goods from the EU, HMRC said in a March 22 press release.
The Treasury Department’s Office of Foreign Assets Control, the State Department and the U.S. Coast Guard issued an update to its maritime petroleum shipping advisory to warn of deceptive shipping practices by Syria and highlight sanctions risks U.S. companies may face if trading with Syria or Iran. The update, a 10-page report that includes lists of ships that have “engaged in sanctionable conduct,” is aimed at “shipping companies, vessel owners, managers, operators, insurers, and financial institutions” who may face “significant U.S. sanctions risks.”
The Treasury’s Office of Foreign Assets Control sanctioned a Venezuelan state-run bank and five related entities, OFAC said in a March 22 notice, increasing pressure on the Nicolas Maduro-led regime in potentially the most impactful move against the country since January, when the U.S. sanctioned Petróleos de Venezuela, S.A, the country's state-run oil company.