The United Kingdom was to begin negotiations June 22 to join the 11-member Comprehensive and Progressive Agreement for Trans-Pacific Partnership, the Department of International Trade said in a news release. The agreement would welcome the U.K. as its first European member and lower trading barriers for British goods such as whisky and cars.
The United Kingdom finished the fifth round of negotiations on a free trade agreement with New Zealand, reaching an agreement on disputes, transparency and gender equality in trade, the U.K.'s Department for International Trade announced in a June 18 news release. “Both sides are committed to striking a modern, liberalising agreement that forges closer ties between two island democracies that believe in free and fair trade,” U.K. International Trade Secretary Liz Truss said. “I am pushing UK interests hard in areas like services, mobility and investment, and want a deal that cuts tariffs on our exports, makes it easier for our service providers to sell into New Zealand, and delivers for consumers here at home.” The U.K.-New Zealand trading relationship was worth 2.3 billion pounds in 2020.
The European Council extended its sanctions regime on Russia related to its annexation of Crimea and Sevastopol until June 23, 2022, a June 21 news release said. Current restrictions under the regime target European Union imports of Crimea or Sevastopol-origin goods and infrastructural or financial investments and tourism services in the annexed regions. The sanctions were first put in place in June 2014, following annexation by Russia.
The European Union clarified that the criteria for listing an individual or entity under the bloc's Libya sanctions regime will now include those who undermine the elections planned under the Libyan Political Dialogue Forum Roadmap. This move further complies with a similar United Nations Security Council resolution, the European Council said in a June 21 news release. The council also called on the international community to take greater steps to comply with Libya-related U.N. Security Council resolutions.
European Union-candidate countries North Macedonia, Montenegro, Serbia and Albania, along with countries in the European Economic Area -- Iceland, Liechtenstein and Norway -- came in line with EU restrictions on Belarus (see 2106040016) following the forced landing of a Ryanair flight to arrest a dissident journalist, the European Council said in a June 21 news release. The restrictions ban the overflight of EU airspace and access to EU airports by Belarusian aircraft of all types.
The United Kingdom's Office of Financial Sanctions Implementation held two webinars on complying with the country's financial sanctions regulations. The webinars, on how to complete a license application and on humanitarian licensing, were published on the agency's website in a June 17 guidance. Both events will be available for viewing until Aug. 16. OFSI will hold a separate webinar on reporting requirements for licenses June 24.
The European Parliament's Foreign Affairs Committee adopted a resolution calling for the European Union Global Human Rights Sanctions Regime to include corruption as a punishable offense. Unlike the sanctions regime to the U.S. Global Magnitsky Act, the EU's current regime lacks corruption penalties, a June 16 news release said. Parliament members “should also be able to propose cases of serious human rights violations, in order to increase the legitimacy of the sanctions regime,” the release said. “In addition, Members insist on an inclusive sanctions process to facilitate input from civil society.”
The European Commission implemented a provisional antidumping duty on aluminum converter foil imports from China, in a June 18 implementing regulation. In particular, duties will be levied against Chinese imports of aluminum converter foil of a thickness of less than 0.021 mm, not backed, not further worked than rolled, in rolls of a weight exceeding 10 kg, under CN code ex 7607 11 19. A number of exclusions apply, including to varietals of aluminum household foil. Tariff rates range from 16% to 29.1%, with all other companies than the respondents in the underlying inquiry receiving the 29.1% rate.
The United Kingdom released an agreement in principle for its new U.K.-Australia free trade agreement. Its four sections cover goods, services, mobility and state-owned enterprises and designated monopolies, a June 17 policy paper said. Both parties agreed to commit to provisions that promote fair competition between commercial SOEs and private enterprise, ensure SOEs can continue to operate as they do now, and allow both sides to share information about their SOEs and cooperate at the multilateral level. On the goods front, talks are ongoing to eliminate technical barriers to trade in specific goods such as British cars and Scotch whisky and Australian wine and organics (see 2106150023).
German companies must now take preventive measures to combat human rights violations in their supply chains, under law passed June 11. The regulation mandates compliance and reporting mechanisms on due diligence activities and sets a Jan. 1, 2023, deadline to come into full compliance for companies with more than 3,000 employees and a Jan. 1, 2024, deadline for companies with more than 1,000 employees. Companies with more than 400 million Euros in annual turnover can be fined up to 2%.