Anything to Declare?     October 2010 

Greetings!     

 

The international trade system is currently experiencing a wave of turbulence and antagonism between different states. Whilst this is fantastic for commentators and analysts, for businesses already shaken by the effects of recession, the prospect of an international trade war is the very last thing they want or need.

The spotlight of October's edition of 'Anything to Declare?'  is on the controversial issues of currency manipulation and how states are being accused of deliberately driving down the value of their currencies in order to promote cheap exports. We look at the possible implications for importers particularly should states decide to take punitive measures against those accused of currency manipulation.

 

Our second feature article follows on from last months' report of the World Trade Organisation ruling condemning EC Tariffs on certain high-tech products. We pose the question 'what happens next' and again look at the potential implications for importers in the following months.

The "Currency War" and it's potential impact on UK importers

 

Currency 2

What is the issue?

 

In recent months, economists have been suggesting that a string of countries have been deliberately driving down the value of their currencies in order to boost their exports and thus strengthen their economies.  The main focus of the ire of Western countries is China but China is by no means the only party suspected of this practice.  Countries such as Israel, Switzerland and Japan have also been accused of engaging in currency manipulation.

 

 Read the article

 

WTO Ruling on High-Tech goods:

What happens next for importers?

 

ITS reported last month that the EU had suffered a significant defeat at the World Trade Organisation. The WTO decided that the EU had breached its obligations under the GATT 94 International Technology Agreement (ITA) by levying customs duties on certain technology products including multi-functioning devices, monitors and set top boxes.  The EU has decided not to appeal against this ruling. 

What Happens Next?  Read the article

 
 
About Us

International Trade Solutions helps medium to large companies build world-class customs functions, delivering cost-savings while ensuring effective compliance with customs regulations.

Our team is headed by Rob Jenkins and is made up of legal and accounting professionals. We have strategic partnerships with banks, legal and accountancy practices and logistic professionals, enabling us to set up virtual teams to help solve multi-disciplinary challenges.

Get in Touch

       If you would like to discuss any of these issues then  please call 

 Rob Jenkins on 01905 619229 or e mail at

robjenkins@internationaltradesolutions.co.uk

 

This Issue 

 

EU South Korea Free Trade Agreement finally signed

 

 

The Customs Classification of an Apple IPod Nano

 

 

Russia extends its grain export ban, Ukraine sets grain export quota

 

2010 Additional Duties

 

 

EU to temporarily ease Tariff measures on certain Pakistani products?

 
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