Australia will soon impose an additional 35% tariff on all imports from Russia and Belarus in response to Moscow’s war in Ukraine. Australia will rescind its most-favored-nation tariff treatment for both countries, effective April 25, the country’s foreign ministry said March 31. It said it will “continue to work with partners to impose the maximum costs on Russia,” including sanctions and other trade restrictions (see 2203210006 and 2203180006).
India extended the free importation of urad beans and tur/pigeon peas until March 31, 2023, India's Directorate General of Foreign Trade said March 29. The notice indicates that the import policy "Free" will be valid "up to" this date. The policy applies to the following ITC (Harmonized System) Codes: 07133110 and 01736000.
Vietnamese shipping lines are wading into the international market in a bid to reduce dependence on foreign shipping companies, the state-run CustomsNews reported. To do this, some of the 10 Vietnamese shipping companies in operation at the end of 2021, including the Hai An Shipping Joint Stock Co., are entering into joint ventures with foreign shipping lines and investing in upgrades to existing shipping fleets. Hai An announced that it is discussing a joint venture with Israeli shipping company ZIM. The joint venture, if approved, will open two container shipping routes: one from Vietnam to Southeast Asia and another from Vietnam to China, the report said.
India has begun restricting the export of hydrofluorocarbons, as of a March 23 notice from the Directorate General of Foreign Trade that moved 17 different Harmonized System codes for hydrofluorocarbons from export policy of "Free" to "Restricted." These products include trifluoromethane, difluoromethane and fluoromethane. The export of these goods is permitted only with an export authorization based on a No Objection Certificate from the Ministry of Environment and Forest.
India extended the deadline for installing and beginning operation of Radiation Portal Monitors and Container Scanners in the designated seaports, from March 31 to Sept. 30, 2022, the Directorate General of Foreign Trade said in a March 23 notice.
Sri Lanka recently notified draft amendment standards to the World Trade Organization for a range of food products, including certain fruit drinks and nectars, chili sauce, tomato sauce and jams, jellies and marmalades. USDA's Foreign Agricultural Service said March 21. WTO members can submit comments on the draft changes until March 26.
Trade between China and Lithuania took a massive dive in the first two months of 2022 amid political turmoil between the two nations. According to data from China's General administration of Customs, the imports to China from Lithuania dropped 88.5% compared with the same two-month period in 2021. For all of 2021, Lithuanian imports dropped nearly 17%. The political spat emerged when a Taiwan consular office opened in Vilnius in November (see 2112090012). China buys mainly wheat, refined copper and furniture from Lithuania, according to Observatory of Economic Complexity data.
Vietnam's General Department of Taxation rolled out a web portal for overseas suppliers March 21, allowing the suppliers to adhere to all tax laws, the state-run CustomsNews reported. All transactions from registration, declaration and tax payments, etc. now will be conducted on the portal, with no need to submit paper documents. For overseas suppliers registering for an electronic tax transaction, the company must register an electronic tax transaction together with the first tax registration through the portal, CustomsNews said. The portal is at this address.
Thailand recently announced new incentives for its domestic auto manufacturing industry, including reduced import duties for certain auto parts, the Hong Kong Trade Development Council reported March 21. The incentive package is aimed at “stimulating” the country’s use of electric vehicles and will include a 40% drop in customs duties for certain battery electric vehicles, HKTDC said. Thailand also will offer certain import duty exemptions for “major components.”
Australia will ban exports of alumina and aluminum ores, including bauxite, to Russia in a bid to limit the country’s ability to produce aluminum, Australia’s government said March 20. Russia relies on Australia for about 20% of its alumina, and the export ban will cut Russia’s ability to source a “critical input” into its “armaments industries,” Australia said. “The Government will work closely with exporters and peak bodies that will be affected by the ban to find new and expand existing markets,” Australia said.