In November 2023, new foreign trade regulations from the European Union, the United States, Bangladesh, India and other countries will come into effect, involving import licenses, trade bans, trade restrictions, customs clearance facilitation and other aspects.
New foreign trade regulations in November
1. The tax policy for returned goods exported by cross-border e-commerce continues to be implemented
2. Ministry of Commerce: Comprehensive lifting of restrictions on foreign investment in manufacturing
3. Freight rates have increased on many trunk routes between Asia, Europe and Europe.
4. The Netherlands releases import conditions for compound foods
5. Bangladesh implements new guidelines for comprehensive verification of the value of imported and exported goods
6. The United States allows two Korean companies to provide equipment to its Chinese factories
7. The United States tightens restrictions on chip exports to China again
8. India allows import of laptops and tablets without restriction
9. India asks factories to stop importing raw jute
10. Malaysia considers banning TikTok e-commerce
11. EU passes ban on microplastics in cosmetics
12. The EU plans to ban the manufacture, import and export of seven categories of mercury-containing products
1. The tax policy for returned goods exported by cross-border e-commerce continues to be implemented
In order to support the accelerated development of new business formats and models such as cross-border e-commerce, the Ministry of Finance, the General Administration of Customs, and the State Administration of Taxation recently jointly issued an announcement to continue the implementation of the tax policy on returned goods exported by cross-border e-commerce. The announcement stipulates that for export declarations under the cross-border e-commerce customs supervision codes (1210, 9610, 9710, 9810) between January 30, 2023 and December 31, 2025, and within 6 months from the date of export, due to Goods (excluding food) that are unsalable and returned in their original condition due to reasons for return are exempt from import duties, import value-added tax, and consumption tax. Export duties collected at the time of export are allowed to be refunded.
2. Ministry of Commerce: Comprehensive lifting of restrictions on foreign investment in manufacturing
Recently, my country announced that it would “completely lift restrictions on foreign investment access in the manufacturing sector.” Actively follow international high-standard economic and trade rules, build a higher-level free trade pilot zone, and accelerate the construction of Hainan Free Trade Port. Promote the negotiation and signing of free trade agreements and investment protection agreements with more co-building countries.
3. Freight rates have increased on many trunk routes between Asia, Europe and Europe.
Freight rates on the main container shipping routes have rebounded across the board, with freight rates on the Asia-Europe route soaring. Freight rates on the main container shipping routes have rebounded across the board this week. Freight rates on the Europe-European routes have surged by 32.4% and 10.1% month-on-month respectively. Freight rates on the US-West and US-East routes have increased month-on-month respectively. 9.7% and 7.4%.
4. The Netherlands releases import conditions for compound foods
Recently, the Dutch Food and Consumer Product Safety Authority (NVWA) issued compound food import conditions, which will be implemented from the date of issuance. main content:
(1) Purpose and scope. The general conditions for the import of compound foods from non-EU countries do not apply to unprocessed products of animal origin, products of animal origin that do not contain plant products, products consisting of processed products of animal origin and vegetable products, etc.;
(2) Definition and scope of compound food. Products such as surimi, tuna in oil, herb cheese, fruit yoghurt, sausages and bread crumbs containing garlic or soy are not considered compound foods;
(3) Import conditions. Any animal-derived products in composite products must come from EU-registered companies and animal-derived product varieties that are allowed to be imported by the EU; except for gelatin, collagen, etc.;
(4) Mandatory inspection. Compound foods are subject to inspection at border control points when entering the EU (except for shelf-stable compound foods, shelf-stable compound foods, and compound foods containing only dairy and egg products); shelf-stable compound foods that need to be transported frozen due to sensory quality requirements Food is not exempt from inspection;
5. Bangladesh implements new guidelines for comprehensive verification of the value of imported and exported goods
Bangladesh’s “Financial Express” reported on October 9 that in order to prevent the loss of tax revenue, Bangladesh Customs will adopt new guidelines to more comprehensively review the value of imported and exported goods. Risk factors reviewed under the new guidelines include import and export volume, previous violation records, tax refund volume, bonded warehouse facility abuse records, and the industry to which the importer, exporter or manufacturer belongs, etc. According to the guidelines, after customs clearance of import and export goods, the customs can still assess the true value of the goods based on verification needs.
6. The United States allows two Korean companies to provide equipment to its Chinese factories
The U.S. Department of Commerce’s Bureau of Industry and Security (BIS) announced new regulations on October 13, updating the general authorization for Samsung and SK Hynix, and including the two companies’ factories in China as “verified end users” (VEUs). Being included in the list means that Samsung and SK Hynix will not need to obtain additional licenses to provide equipment to their factories in China.
7. The United States tightens restrictions on chip exports to China again
The U.S. Department of Commerce announced version 2.0 of the chip ban on the 17th. In addition to China, restrictions on advanced chips and chip manufacturing equipment have been expanded to more countries including Iran and Russia. At the same time, well-known Chinese chip design factories Biren Technology and Moore Thread and other companies are included in the export control “entity list”.
On October 24, Nvidia announced that it had received a notice from the U.S. government requiring chip export control measures to take effect immediately. According to the new regulations, the U.S. Department of Commerce will also expand the coverage of export restrictions to overseas subsidiaries of Chinese companies and 21 other countries and regions.
8. India allows import of laptops and tablets without restrictions
On October 19, local time, the Indian government announced that it would allow the import of laptops and tablets without restrictions and launched a new “authorization” system designed to monitor the export of such hardware without harming market supply. Volume.
Officials said the new “import management system” will take effect on November 1 and require companies to register the quantity and value of imports, but the government will not reject any import requests and will use the data for monitoring.
S. Krishnan, a senior official in the Ministry of Electronics and Information Technology of India, said that the purpose of this is to ensure that the required data and information are available to ensure a fully trusted digital system. Krishnan added that based on the data collected, further measures may be taken after September 2024.
On August 3 this year, India announced that it would restrict the import of personal computers, including laptops and tablets, and companies would need to apply for a license in advance to be exempted. India’s move is mainly to boost its electronics manufacturing industry and reduce its dependence on imports. However, India immediately postponed the decision due to criticism from industry and the US government.
9. India asks factories to stop importing raw jute
The Indian government recently asked textile mills to stop importing jute raw material due to oversupply in the domestic market. The Office of the Jute Commissioner, Ministry of Textiles, has directed jute importers to provide daily transaction reports in the prescribed format by December. The office has also asked mills not to import jute variants of TD 4 to TD 8 (as per the old classification used in the trade) as these variants are available in sufficient supply in the domestic market.
10. Malaysia considers banning TikTok e-commerce
According to recent foreign media reports, the Malaysian government is reviewing a policy similar to the Indonesian government and considering banning e-commerce transactions on the social media platform TikTok. The background of this policy is in response to consumer concerns about product pricing competition and data privacy issues on TikTok Shop.
11. EU passes ban on microplastics in cosmetics
According to reports, the European Commission has passed a ban on adding microplastic substances such as bulk glitter to cosmetics. The ban applies to all products that generate microplastics when used and aims to prevent up to 500,000 tons of microplastics from entering the environment. The main characteristics of the plastic particles involved in the ban are that they are smaller than five millimeters, insoluble in water and difficult to degrade. Detergents, fertilizers and pesticides, toys and pharmaceutical products may also be required to be free of microplastics in the future, while industrial products are not restricted for the time being. The ban will take effect on October 15. The first batch of cosmetics containing loose glitter will stop selling immediately, and other products will be subject to transition period requirements.
12. The EU plans to ban the manufacture, import and export of seven categories of mercury-containing products
Recently, the European Union Journal published the European Commission Delegation Regulation (EU) 2023/2017, which plans to ban the export, import and manufacture of seven categories of mercury-containing products in the EU. The ban will be implemented from December 31, 2025. Specifically including: compact fluorescent lamps; cold cathode fluorescent lamps (CCFL) and external electrode fluorescent lamps (EEFL) of all lengths for electronic displays; melt pressure sensors, melt pressure transmitters and melt pressure sensors; mercury-containing vacuum pumps; Tire balancers and wheel weights; photographs and paper; propellants for satellites and spacecraft.
Products essential for civil defense and military purposes and products used in research are exempt from this ban.
Post time: Nov-07-2023