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EMEA Trade Report

6/11/2018
 
Europe
 
EU tariffs on U.S. goods to take effect in early July
“The Commission proposed to the member states to maintain the full list of tariffs, which include iconic products such as Levi’s jeans and Harley Davidson motorcycles, instead of a gradual implementation to contain the dispute. If a majority of EU countries don’t oppose during the approval process in the next few weeks, the executive said the procedure would conclude by the end of June and the tariffs would start applying in July.”

[Euractiv]
 
UK officials float third-way Brexit customs compromise
“According to two senior U.K. government figures briefed on the new proposal — one minister and one official — the scheme would involve Northern Irish ports being considered effectively as an entry point to the EU on goods for which the U.K. has agreed to align standards with the bloc. It is a modification to the so-called ‘maximum facilitation’ or ‘max fac’ customs model favoured by Brexiteers and being discussed by senior ministers. That model aims to use technology to avoid border checks on the Northern Ireland land border.”

[Politico]
 
UK plans to stay in customs union until December 2021 under new proposal
“Under the proposal, UK-EU trade would be free of any tariffs, quotas, rules of origin and customs. However, the UK would be outside the scope of the EU’s Common Commercial Policy, apart from applying the bloc’s common external tariff, and would be able to agree free trade deals with third countries. In a bid to pacify Brexiteers, the proposal makes clear that it should be ‘time-limited’ until a new EU-UK trade deal is in place.”

[Euractiv]
 
Mexico looks to Europe after slapping tariffs on U.S. pork
“About 90% of Mexico’s $1.07 billion annual imports of pork legs and shoulders come from U.S. suppliers and the country expects to import more from elsewhere to avoid pushing prices higher for the cuts used to make hams and other processed meats.”

[Euractiv]
 
 
Middle East
 
Turkey to respond to US steel, aluminium tariffs by June 21
“Ankara will apply countermeasures on Washington through $266.5 million in additional duties on the imports of 22 U.S. items, including coal, paper, walnuts/almonds, tobacco, unprocessed rice, whiskey, automobiles, cosmetics, machinery and equipment, and petrochemical products, unless Washington abolishes the tariffs. The highest additional customs duties will be imposed on whiskey and automotive by Turkey with 40 percent and 35 percent, respectively, according to sources close to the matter.”

[Hurriyet Daily News]
 
Dubai South launches system to facilitate transit of goods and vehicles
“The Logistics District at Dubai South has launched Masary, a new smart electronic system that … is considered the first of its kind in the region and will positively impact the traffic of goods and vehicles that move through the district. … The system is characterized by its speedy process while issuing permits by reducing the time it takes from 4 hours to a mere 10 minutes.”

[Zawya]
 
Red tape restricts Turkey`s imports from China
“The Turkish Economy Ministry has informed exporters’ associations that more than 15 extra documents should be filed for imports from China starting from July 18. Brand owners and producers have said it is another way of limiting imports on top of tariffs.”

[Hurriyet Daily News]
 
 
Africa
 
Egypt to begin importing rice
“Egypt this year slashed cultivation of rice, a water-intensive crop, to conserve vital Nile river resources. Rice traders said at the time that the policy would push Egypt to import up to 1 million tonnes of the grain next year after previously being an exporter.”

[Zawya]