France and the EU will retaliate if the U.S. goes forward with new tariffs on French goods, according to multiple reports. The proposed new U.S. tariffs are a result of a Section 301 investigation into the digital services tax in France. The Office of the U.S. Trade Representative said the tax unfairly targets U.S. companies.
In the Nov. 25 - Dec. 2 editions of the Official Journal of the European Union the following trade-related notices were posted:
Six European countries will become “shareholders” of Instex in an attempt to “facilitate legitimate trade” between Europe and Iran, according to a Nov. 29 notice from Finland’s Ministry of Foreign Affairs. Finland, Belgium, Denmark, the Netherlands, Norway and Sweden hope Instex -- the European payment system designed to allow countries to trade with Iran despite U.S. sanctions (see 1907010057) -- convinces Iran to stop breaching the terms of the Joint Comprehensive Plan of Action (see 1908050036). “It is crucial for the Islamic Republic of Iran to return without delay to full compliance with the terms and provisions of the nuclear agreement,” Finland said. Trade lawyers have said Instex is largely symbolic and unlikely to broker significant trade in its current form (see 1907030047), while the State Department said the system has no corporate demand within the EU (see 1908260035).
The United Kingdom's Department for International Trade updated its guidance on overseas business risks in Poland, according to a Nov. 27 notice. The guidance details the main “security and political risks” facing British companies when trading and doing business with Poland, including issues surrounding intellectual property, organized crime, human rights, bribery and corruption, and terrorism risks.
The European Commission referred Denmark to the Court of Justice of the European Union for failing to comply with European Union law regulating illegal cheese exports, the commission said in a Nov. 26 press release. Companies based in Denmark are producing and exporting “white cheese” to non-EU countries after labeling it with “Feta,” the commission said, which violates EU law. Feta is registered as a Protected Designation of Origin (PDO) and can only be produced in Greece, the commission said. The action is a “direct breach” of the protected designation and “Danish authorities have failed to prevent or stop it,” the commission said. The actions also may endanger “ongoing negotiations” between the EU and third countries surrounding trade deals that ensure protection of EU PDOs.
The European Union’s transfer of authority over its sanctions portfolio represents an increased focus on “stricter sanctions enforcement” and could potentially redefine the impact of EU sanctions, according to a Nov. 21 post from the Royal United Services Institute. The change, made by the European Commission earlier this month, transferred the EU sanctions portfolio from the High Representative for Foreign Affairs and Security to the Directorate-General for Financial Stability, Financial Services and Capital Markets Union (FISMA).
In the Nov. 25 editions of the Official Journal of the European Union the following trade-related notices were posted:
In the Nov. 20-21 editions of the Official Journal of the European Union the following trade-related notices were posted:
The Netherlands is postponing a change in the definition for “exporter” until April 1, 2020, KPMG said in a Nov. 19 post. In October, the country’s customs authorities said it would “no longer be possible” for a person “not established” within the European Union to act as exporter in the export declaration, the post said. This change will affect companies established outside the EU, because they will be required to designate a person inside the EU to act as the exporter. The Netherlands initially said the change would take effect Dec. 1, but that window was “too short a time frame for many companies,” KPMG said.
The European Commission launched an online portal to provide businesses guidance on verifying actors in their supply chains and to aid with sanctions compliance, the commission said in a Nov. 19 press release. The “Due Diligence Ready!” portal will help businesses “check the sources of the metals and minerals entering their supply chain” and improve due diligence, the commission said. Specifically, the portal will help businesses identify whether their supplies are originating from human rights abusers who may be subject to European sanctions by providing access to training materials, guidance information and due-diligence requirements.