ECONOMIC/TRADE ISSUES

EU27 and UK Agree on Extending Brexit Deadline Until 31 October 2019

12 April 2019

Following repeated rejections of the Brexit deal in the UK Parliament, the European Council scheduled a special Brexit summit for 10 April 2019. At the special summit, the EU’s heads of state and government decided to once more extend the Brexit deadline. More

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EU Urges Companies to Take Precautionary Steps for REACH Compliance Before Brexit

10 April 2019

On 3 April 2019, the European Chemicals Agency (ECHA) recommended that companies subject to the REACH framework prepare for UK’s withdrawal from the European Union without a transition period, no matter how the future plays out. More

hktdc research

EU Chief Brexit Negotiator: No Deal Becomes More Likely “Day After Day”

03 April 2019

On 1 April 2019, the UK’s House of Commons failed to decide by a majority on any plan of action for an orderly Brexit. This was the second time a number of indicative votes on a possible solution were held unsuccessfully. More

hktdc research

Uncertainty Increases Over Likelihood of Orderly Brexit with UK Running Out of Workable Options

29 March 2019

On 27 March 2019, the road to Brexit took another dizzying turn, with a number of “indicative votes” defeated in the House of Commons. On the same day, Theresa May also stated that she would resign her prime ministership (as she is being exhorted to do, by mainly enraged Brexiteers within her own party) if her Withdrawal Agreement were to be approved in a Third Meaningful Vote (“MV3”). More

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Trade Remedy Issues to Note for Businesses Ahead of Brexit

19 March 2019

On 6 March 2019, the Trade Remedies Investigations Directorate of the UK (“TRID”) announced that it will investigate if new anti-dumping, safeguard and anti-subsidy measures are needed in order to counteract unfair trading practices once Brexit occurs. More

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UK Launches New Trade Remedies System

15 March 2019

On 6 March 2019, the UK announced the establishment of its new trade remedies system with the objective of protecting UK domestic businesses and industry against injury caused by unfair trading practices and unforeseen surges in imports. More

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United Kingdom Adopts Temporarily Applicable Policy on Trade Tariffs

14 March 2019

On 13 March 2019 – following a firm rejection, for the second time, of the EU Withdrawal Agreement by the UK parliament on the previous day – the UK government adopted a policy, set out in the Tax Information and Impact Note, establishing and giving effect to a UK Tariff. More

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UK Bicycle Producers Set to Lose Current EU Protection Against Dumped Imports Originating in Mainland China

11 March 2019

On 6 March 2019, the UK’s Secretary of State for International Trade, Liam Fox, announced that UK bicycle producers would lose EU protection against imports of dumped products originating in mainland China once the UK leaves the European Union and takes control of its own independent trade policy. More

hktdc research

UK Preparing Independent System Ahead of Brexit, to Maintain Anti-dumping and Other Trade Remedy Measures

28 February 2019

On 25 February 2019, the International Trade Secretary of the UK published a notice setting out the information about the trade remedies that will continue, and those that will cease, to apply as the UK leaves the European Union and takes control of its own independent trade policy. More

hktdc research

Congressional Budget Office Estimates Economic Impact of Trade Policy Decisions

30 January 2019

On 28 January, the non-partisan Congressional Budget Office published its updated budget and economic outlook for the current year as well as the next decade. In remarks delivered to the press upon release of the new report, Keith Hall, who has led the CBO since 2015, noted that the U.S. government’s debt is already large and budget deficits over the next decade and beyond are projected to keep increasing in relation to the size of the economy. More

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