The Philippines customs authority recently issued new guidelines for refunds of duties and taxes and the issuance of tax credits for traders who have paid an excess of customs duties, the Hong Kong Trade Development Council reported Oct. 19. Traders must file refund claims within one year of the payment date for the duties, with claims to be paid within 60 days of document submission. The customs authority will not process refund claims for “purely internal revenue taxes,” including value-added taxes and excise taxes, which must be filed with the Philippines’ Bureau of Internal Revenue, the report said.
China said it may trade arms with Iran due now that the United Nations arms embargo has expired. It also criticized the U.S. for saying it will sanction countries that trade with Iran. “This is an important moment in the implementation process of the [Joint Comprehensive Plan of Action],” a Chinese Foreign Ministry spokesperson said Oct. 19. “China will continue handling arms trade in a prudent manner.”
China is “discouraging” its cotton mills from importing and using Australian cotton, two Australian cotton trade groups said Oct. 16. The groups said they are unsure why China has made “changes to export conditions for Australian cotton” to China and said that they are working with the Australian government to investigate. “Our industry’s relationship with China is of importance to us and is a relationship we have long valued and respected,” the Australian Cotton Shippers Association and Cotton Australia said in a joint statement. “To now learn of these changes for Australian cotton exports to China is disappointing, particularly after we have enjoyed such a mutually beneficial relationship with the country over many years.” The groups said they will continue “meaningful conversations with stakeholders to fully understand this situation” and “find a resolution.” During an Oct. 16 news conference, a Chinese Foreign Ministry spokesperson said he was “not aware” of the situation and referred further questions to “the competent authorities.”
China announced antidumping duties on imports of polyphenylene sulfide from the U.S., Japan, South Korea and Malaysia, the Chinese Ministry of Commerce said Oct. 16, according to an unofficial translation. Beginning Oct. 17, Chinese “import operators” must “provide the corresponding deposits” to Chinese customs authorities at rates between 23.3% and 220.9%, the notice said. Polyphenylene sulfide is a “high-performing engineering thermoplastic” used in the textile, auto, aerospace and electronics industries, according to CGTN, a Chinese state-controlled media outlet, in a report Oct. 16.
Foreign direct investment coming into South Korea during the third quarter of 2020 rose by more than 40% compared with the same time last year, the country’s Ministry of Trade, Industry and Energy said Oct. 13. South Korea said the numbers reached a “record-high” amount for the third quarter as the country saw spikes in investment from China and other Asian regions, including Hong Kong, Singapore, Taiwan and Malaysia. The investments from those countries, which rose by about 50% from the previous year, targeted parts and research and development in “high-tech materials,” South Korea said. Meanwhile, U.S. direct investment into South Korea fell about 20%. The U.S. has stressed more stringent investment screening mechanisms with its trade partners, particularly against China (see 2002260042).
A Japanese Ministry of Economy, Trade and Industry advisory panel is focusing on its trade insurance program, which has been affected by global trade tensions and the COVID-19 pandemic, Japan said in an Oct. 12 news release. Japan said that it plans to “analyze the issues that have emerged regarding trade insurance,” such as the pandemic and the “US-China conflict,” according to an unofficial translation. Japan also said that it will take “further measures” through Nippon Export and Investment Insurance, Japan’s state-owned insurance corporation. The advisory panel was scheduled to hold its first meeting Oct. 13.
China and Colombia signed their free trade agreement about three months after concluding negotiations (see 2007200012), an Oct. 12 Chinese news release said, according to an unofficial translation. The agreement contains provisions on rules of origin, customs procedures, technical trade barriers and phytosanitary measures, China said. The deal will also eliminate tariffs on most Chinese and Cambodian products and establishes an “electronic network” to digitally transmit certificates of origin to speed up customs clearances.
China began an anti-subsidy investigation into imports of U.S. polyvinyl chloride (PVC) products, China's Ministry of Commerce said in an Oct. 14 notice, according to an unofficial translation. China said it expects to complete the investigation before Oct. 14, 2021, but may extend it another six months if “special circumstances” warrant it. China last month began an antidumping investigation into U.S. PVC products (see 2009250012).
China will increase customs checks and requirements for cargo and other goods coming from Chad after an outbreak in that country of the chikungunya fever, China’s customs authority said in an Oct. 10 news release. Increased requirements will apply to “vehicles, containers, cargo, luggage items, mail, express mail, and corpse bones,” China said, which will require “sanitary quarantine.” Chikungunya fever causes symptoms in humans such as rash, fatigue and headache, with joint pain, and is spread by mosquitoes. The measures will be in place for six months.
China revised measures for submitting electronic cargo manifests for ground vehicles, its General Administration of Customs said in a notice released Oct. 9, according to an unofficial translation. The notice makes changes to “filing specifications” for certain data items, a “fast customs clearance” procedure for certain cargo, and other electronic declarations related to goods. Changes will take effect Dec. 1. The measures are meant to “strengthen the management of road inbound and outbound transportation vehicles” and standardize the submission of data declarations, China said.