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China Extends US Tariff Exclusion for Certain Ag Goods
January 4, 2024 |Asia Pacific

China again extended its Section 301 retaliatory tariff exclusion period for 12 U.S. agricultural products, including certain shrimp, whey, fishmeal, alfalfa and hardwood products, USDA’s Foreign Agricultural Service said in a recent report. The exclusions, which were set to expire Dec. 31, will continue through July 31. Beijing originally imposed the tariffs in retaliation for Section 301 tariffs announced by the Trump administration on certain Chinese goods.

India Extends Free Import Policy of Urad, Tur Peas Until 2025
January 2, 2024 |Asia Pacific

India extended its free import policy for urad beans and tur/pigeon peas for another year, the Directorate General of Foreign Trade announced. The import policy will now run until March 31, 2025, and specifically applies to urad of Indian Tariff Code (Harmonized System) 07133110 and tur/pigeon peas of ITC(HS) 07136000.

China, Nicaragua Free Trade Agreement Effective Jan. 1
January 2, 2024 |Asia Pacific

The free trade agreement between China and Nicaragua was scheduled to take effect Jan. 1, China's Ministry of Commerce announced, according to an unofficial translation (see 2308310020). The ministry released the FTA's schedule of preferential tax rates, which includes zero percent tariff rates for Nicaragua's main exports, such as beef, shrimp, coffee and cocoa. The deal also sets out tariff quotas of 50,000 tons of sugar each year, with a duty rate of 15% beyond the 50,000 ton limit, while tariffs on Chinese exports to Nicaragua will be "gradually reduced and eliminated."

South Korea Sanctions 8 North Koreans for Illegal Trade, Cyber Activities
January 2, 2024 |Asia Pacific

South Korea sanctioned eight people from North Korea in response to its long-range ballistic missile launch Dec. 18, the Ministry of Foreign Affairs announced, according to an unofficial translation. The people have generated revenue for the North Korean government or have aided the country's weapons programs, South Korea said, including by helping it buy and finance nuclear weapons and missiles, steal technology and trade in sanctioned materials, including weapons. South Korea said some also have been involved in "illegal cyber activities."

Topics:US Export Controls