POLICIES & REGULATIONS

Little Progress Made on EU-China Trade Talks

30 June 2020

Mainland China and the EU held their 22nd bilateral summit on 22 June 2020 via videoconference, discussing trade and investment, climate change, the digital sector, and the economic recovery from the COVID-19 crisis. The summit took place among ongoing tensions, most recently exacerbated by the EU’s publication of a White Paper on foreign subsidies on 17 June, and the European Parliament’s call for EU action over its concerns for Hong Kong. More

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U.S. Suspends Export Licence Exceptions for Hong Kong

30 June 2020

U.S. Commerce Secretary Wilbur Ross announced on 29 June the suspension of U.S. Department of Commerce regulations affording preferential treatment to Hong Kong over mainland China, including the availability of export licence exceptions. More

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U.S. Export Restrictions on Huawei Revised

19 June 2020

On 15 June, U.S. Secretary of Commerce Wilbur Ross announced a new interim final rule to ensure that Huawei’s placement on the Entity List in May 2019 does not prevent American companies from contributing to standards-developing activities. More

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Legislation Could Result in U.S. Stock Exchange De-listing of Certain Mainland Chinese Companies

17 June 2020

The U.S. Senate recently passed legislation by unanimous consent that could lead to the eventual de-listing of certain mainland Chinese companies from U.S. stock exchanges. The legislation will become law if it is approved by the House of Representatives and signed by the president. More

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Brexit: UK Formally Rejects Extension to Transition Period as It Delays Implementation of Full Border Controls

17 June 2020

On 12 June 2020, the UK officially confirmed that it will not seek an extension to the transition period beyond 31 December 2020. At the same time, the UK announced that it would delay (other than basic) customs controls on goods entering the UK from the EU by six months in order to allow businesses more time to prepare in the wake of the Covid-19 crisis. More

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EU and UK Remain Divided Over Maintaining Equivalent Environmental Standards Post-Brexit

11 June 2020

An important EU-UK summit is expected later in June, where both sides are due to decide whether the current deadline for negotiating a post-Brexit trade agreement should be extended beyond the end of December 2020. Ahead of the summit, the European Parliament’s environment committee (ENVI) has said that the UK should commit to not undercutting the EU’s environmental standards following the end of the Brexit transition period. 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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Foreign Investment Declaration Requirement for Critical Technologies to be Revised

28 May 2020

Criteria for determining which foreign investment transactions involving U.S. critical technology are subject to mandatory declaration requirements would be revised under a new U.S. Treasury Department proposed rule. Comments on this proposal are due no later than 22 June. More

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Official Communication Published on Approach for Restoring Freedom of Movement and Lifting Internal Border Controls

25 May 2020

On 13 May 2020, the European Commission (“Commission”) published a communication titled “Towards a phased and coordinated approach for restoring freedom of movement and lifting internal border controls” in light of the restrictive measures Member States of the European Union have imposed in response to the health risks of COVID-19. The purpose of the communication is “to invite Member States to engage in a process of reopening unrestricted cross-border movement within the Union”. More

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New Restrictions Imposed on Exports to Huawei but Limited Export Licence Extended

19 May 2020

The United States has announced an unprecedented step that will further restrict exports to mainland China’s Huawei Technologies Co. Ltd. and is warning of possible limitations on a temporary licence allowing some exports to Huawei and its affiliates, although that temporary licence has nonetheless been extended through 13 August. More

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