ECONOMIC/TRADE ISSUES

Trade Policy in the Biden Administration: A Reset in Sino-US Relations?

24 February 2021

The first two years of the Biden administration are likely to focus on domestic issues, specifically Covid-19, jobs and the economy. The new administration will also have to deal with various outstanding trade issues from the Trump presidency, including the Section 301 tariffs on a broad range of products from mainland China, as well as the Section 232 tariffs on steel and aluminium from most foreign suppliers. More

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The UK’s Post-Brexit E-Commerce Market: A Checklist

20 January 2021

The landmark post-Brexit Trade and Co-operation Agreement reached between the European Union and the UK on the eve of the transition period deadline has not only ushered in a new era for the EU-UK relationship, but new prospects for traders, particularly those who are used to selling to Europe via the UK online. The checklist below serves as a handy note for Hong Kong exporters looking to make the necessary preparations for the new trade reality. More

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Economic Sanctions and Export Controls under the Biden Administration: A New Dawn?

11 December 2020

With the change of presidential administrations around the corner, shifts in US foreign policy objectives under the incoming administration could reshape the adoption and enforcement of US economic sanctions and export control regulations through 2025. In an interview with HKTDC Research, Ali Burney at Steptoe & Johnson LLP shares his thoughts and advice for Hong Kong companies on the likely way forward. More

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New Trade Reality: After 2020 US Election

27 November 2020

The 3 November 2020 election is expected to result in a new administration under Joe Biden. But since the incoming administration will not be inaugurated until 20 January 2021, the outgoing administration has plenty of time to take additional trade-related actions that may impact Hong Kong and mainland China. In other moves, the first two years of a Biden-Harris administration are likely to focus on such domestic issues as Covid-19, jobs and economy, with trade taking a back seat. More

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New Trade Reality: Augmented EU Export Controls

30 October 2020

On 28 July 2020, the Council of the EU published the bloc’s response to the implementation of the National Security Law for Hong Kong. The conclusions call on the EU and its member states to take extra measures when exporting sensitive equipment and technologies to Hong Kong. Traders who decide to go for a de-risking strategy should therefore stay tuned to the new trade realities and check with the competent authorities with regard to whether goods they wish to trade are affected. More

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New Trade Reality: US Termination of Hong Kong’s Differential Treatment

28 July 2020

Following an executive order ending Hong Kong’s differential treatment with respect to various US statutes, Hong Kong companies should be aware of the new realities to avoid possible violations, as well as legislation details to decide whether their trade and investment transactions may fall within the remit of the changed US regulations. More

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New Trade Reality: Tightened US Export Controls

16 July 2020

The US Department of Commerce has suspended the preferential treatment Hong Kong received in comparison to mainland China. This affects such issues as export licence exceptions for items subject to Export Administration Regulations. Hong Kong companies should pay close attention to the new realities in order to avoid violations, as well as to the legislation details to ascertain whether transaction partners and / or traded items fall within the remit of these changed US regulations. More

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UK Global Tariff to Apply from 1 January 2021: Government Claims That Businesses and Consumers Will Benefit

29 May 2020

On 19 May 2020, the UK revealed its new tariff regime, the UK Global Tariff (“UKGT”). Together with the announcement of the UKGT, the UK declared that it is seeking to facilitate imports of goods not competing with British producers. Consequently, it will remove a significant number of tariffs. Indeed, the UKGT is set to remove about £15 billion in “needless” tariffs of below 2% and £10 billion in tariffs on goods that are not produced in the UK. More

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Brexit: EU-UK Trade Talks at a Stalemate over Disagreement on So-called “Level Playing Field”

20 May 2020

On 15 May 2020, after the conclusion of the third round of trade talks between the EU and the UK, both sides stated that negotiations had become deadlocked over the UK’s refusal to commit to EU environmental, social, labour and regulatory standards. The stalemate underlines the lack of progress that has been made so far. The two sides remain deeply divided ahead of a high-level summit due to take place between EU leaders and Prime Minister Boris Johnson in June 2020. More

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The Legacy of Covid-19: Looking Beyond Brexit

04 May 2020

The UK formally left the EU on 31 January 2020 and there is now a transition period in place until 31 December 2020. The EU and the UK are using this period to negotiate an agreement on their future relationship, including trade relations. The details provided below serve as an aide-mémoire for Hong Kong traders looking to ensure they are Brexit-prepared. More

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