China’s commerce ministry is paying “close attention” to a decision by Mexico in August to raise tariffs on imports of steel and other items from non-free trade agreement countries, a ministry spokesperson said last week. “Although this measure does not target specific countries,” China is monitoring its impact, the spokesperson said, according to an unofficial translation. “Judging from historical experience, raising tariffs will increase the production costs of downstream industries and reduce consumer welfare," the spokesperson said, adding that China hopes Mexico "will adhere to the principles of free trade and use such measures with caution.”
India updated its export policy for vegetable saps and extracts and food preparations not elsewhere specified or included in the ITS Harmonized System code. The Directorate General of Foreign Trade said the export of food supplements with botanicals under HS codes 1302 and 2106 meant for human or animal consumption to the EU and the U.K. will "require issuance of official certificate" from the Shellac and Forest Products Export Promotion Council. The agency is allowed to issue a certificate for a period of three months.
Malaysian Prime Minister Anwar Ibrahim said his government will impose export bans on rare earth elements to ensure that the supply chain of these elements remains in Malaysia, Nikkei Asia reported Sept. 11. Speaking to the Malaysian Parliament Sept. 11, the prime minister did not provide a date on which the ban will take effect. Malaysia's rare earth elements deposits consist of monazite and xenotime, both key to high-tech products and renewable technologies.
The Office of the U.S. Trade Representative said India will reduce tariffs on fresh, frozen, dried or processed blueberries and cranberries, and will reduce tariffs on frozen turkey and duck.
Japan's Ministry of Economy, Trade and Industry announced steps meant to aid its fisheries industries following China's import restrictions in reaction to Japan's release of treated radioactive water from the Fukushima nuclear plant (see 2308240012). The ministry said it will seek "the immediate abolition of measures that are not based on scientific grounds" and make "every effort to fully support the fisheries industry nationwide." Japan pledged an 80 billion yen (about $542 million) fund and emergency support to "disperse dependence on specific countries and regions." The ministry's plan is to "build a new supply and demand structure for marine products."
China will allow imports of beef from Nicaragua that meet certain inspection and quarantine requirements, the country’s General Administration of Customs announced Sept. 1, according to an unofficial translation. The announcement came one day after the two countries signed a free trade deal that will reduce certain tariffs, and import and export restrictions on certain goods (see 2308310020).
China’s General Administration of Customs reminded traders that its mutual recognition arrangement with South Africa took effect Sept. 1, allowing each side to recognize the other's authorized economic operators and receive other customs benefits. The arrangement, signed in June 2021, will help aid customs clearances, give priority to shipments between the two countries, lower inspection rates and more, according to an unofficial translation.
China’s commerce minister last week voiced “serious concerns” with U.S. Commerce Secretary Gina Raimondo about U.S. semiconductor export control policies, investment restrictions, “discriminatory subsidies” and sanctions on Chinese companies, a ministry spokesperson told reporters during an Aug. 31 news conference. The minister also asked Raimondo for the U.S. to treat all companies “equally in terms of market access, regulatory enforcement, public procurement, and policy support,” the spokesperson said, according to an unofficial translation.
China and Nicaragua signed a free trade agreement Aug. 31, China's Ministry of Commerce announced, according to an unofficial translation. Negotiations on the deal began in July 2022 and were concluded within a year, the ministry said, adding that the agreement will allow for a "mutual opening up" in trade in goods and services and investment market access.
India will allow rice shipments to Singapore despite its recent export restrictions on the grain (see 2308280015), a spokesperson for India's Ministry of External Affairs announced. Formal orders will be issued shortly, the spokesperson said, noting the decision was made to allow the exports to "meet the food security requirements of Singapore" and in light of the "very close strategic partnership" between India and Singapore.