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Expanded Utilization of Bonded Areas in Japan

By 1 Min Read

The Japanese government launched the webpage named “Bonded Portal” on the Customs website, dedicated to providing information on the bonded system. This portal includes procedural guidance for businesses seeking approval for bonded areas, as well as various information and materials, including the guidelines for the bonded warehouse permit applications. Additionally, this portal has the subpage for soliciting opinions from the public to understand the issues and needs related to the bonded system and its operation.…

Navigating Global Anti-Dumping Procedures: A Comparative Table of Anti-dumping Procedures in Key Jurisdictions

By , , , , , and 2 Mins Read

In the realm of international trade, the anti-dumping instrument plays a crucial role in safeguarding domestic industries against unfair trading practices. The high number of anti-dumping investigations initiated around the world, as well as an increasingly broad product scope (such as touted cases on hydrogen or electric vehicles), mean that many internationally active companies will need to be aware of anti-dumping. While World Trade Organization law sets out the general framework for municipal anti-dumping rules,…

Japan amends the Customs Tariff Act, etc.

By 2 Mins Read

On 30 March 2023, the Japanese Diet passed the Amendment Act of the Customs Tariff Act, etc. (“Amendment Act”). Most of the provisions of the Amendment Act came into force on 1 April 2023. The overview is as follows: 1. An extended period of application of the provisional tax rate, etc. The period of the provisional tax rate (412 items) and the special safeguard system for rice, wheat and dairy products, etc. were extended until…

UK – CPTPP nations agree to the UK’s bid to begin the accession process to the CPTPP

By 1 Min Read

On 2 June 2021, the UK government announced that the CPTPP nations had agreed to the UK’s bid to begin the accession process to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The CPTPP is a trade agreement between 11 countries (Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam), covering 500 million people. The announcement said the UK will continue to work closely with Japan, as this year’s…

Singapore ratifies RCEP trade agreement

By 1 Min Read

Singapore’s Ministry of Trade and Industry announced that on 9 April 2021, Singapore deposited its instrument of ratification with the Secretary-General of ASEAN and became the first country to complete the official process for ratification of the Regional Comprehensive Economic Partnership (RCEP) Agreement. It is understood that China, Japan and Thailand completed their domestic procedures to approve RCEP, but apparently have not deposited their instruments of ratification with ASEAN. RCEP is the world’s largest free trade agreement and…

Japanese government makes a preliminary determination in its anti-dumping duty investigation regarding dipotassium carbonate originating in South Korea

By 3 Mins Read

On March 11, the Japanese Ministry of Finance (MOF) published a report issued by the Council on Customs, Tariff, Foreign Exchange and other Transactions stating that it would be appropriate to impose a 30.8% anti-dumping duty on dipotassium carbonate originating in South Korea. On March 19, the Suga Cabinet approved a cabinet ordinance imposing a provisional anti-dumping duty. A 30.8% anti-dumping duty will be levied in addition to the 3.9% WTO tariff rate for four…

G7 Statement commits to continued Russia sanctions over Crimea

By 1 Min Read

In an 18 March 2021 statement released by the German Foreign Ministry, the Group of Seven (G7) nations have announced that they remain fully committed to the implementation of sanctions on Russia over the annexation of the Crimean Peninsula. The group’s Foreign Ministers also reaffirmed their unwavering support for and commitment to the independence, sovereignty and territorial integrity of Ukraine, and denounced

US – Treasury labels Vietnam and Switzerland as currency manipulators

By 2 Mins Read

On December 16, 2020, US Department of the Treasury delivered to Congress the semiannual Report on Macroeconomic and Foreign Exchange Policies of Major Trading Partners of the United States. Treasury determined that both Vietnam and Switzerland are currency manipulators. For each country, Treasury assessed, based on a range of evidence and circumstances, that at least part of its exchange rate management over the four quarters through June 2020, and particularly foreign exchange intervention, was for…

Thailand – Additional details about the RCEP

By , and 1 Min Read

Further to our alert on the development of the Regional Comprehensive Economic Partnership (RCEP) negotiation (Link), we would like to share additional details about the RCEP based on the current information available. The RCEP members signed the RCEP on 15 November 2020 during the 37th ASEAN Summit. After the signing, the Thai government shall arrange for a public hearing before presenting to the parliament for ratification. We will keep you updated on this issue if…