The EU and New Zealand have signed their free trade agreement (FTA), which will deliver significant gains for the EU. The deal will cut some €140 million a year in duties for EU companies from the first year of application. As a result, bilateral trade is expected to grow by up to 30% within a decade, thanks to this deal, with EU annual exports potentially growing by up to €4.5 billion. EU investment into New Zealand has a potential to grow by up to 80%. This landmark agreement also includes unprecedented sustainability commitments, including respect of the Paris Climate Agreement and core labour rights.
NextEra Energy and its subsidiary NextEra Energy Seabrook LLC have filed a brief arguing that the Federal Energy Regulatory Commission (FERC) overstepped its authority by preventing it from shifting costs associated with upgrading its New Hampshire power plant’s circuit breaker to the developer of a $1 billion transmission line. The company argues that the court should vacate and hold that Seabrook is not obligated to install the breaker, leaving cost allocation to commercial negotiations between the parties.
In this month’s Global Trade Brief, learn more about why Microsoft has to pay over $3.3M in total combined civil penalties to BIS and OFAC, BIS to Impose $300 Million penalty against SEAGATE TECHNOLOGY LLC related to shipment to Huawei, OFAC Settles with British American Tobacco p.l.c. for $508,612,492 Related to Apparent Violations of the North Korea and Weapons of Mass Destruction Proliferators Sanctions Regulations, and more topics.
In this month’s Global Trade Brief, learn more about the U.S. CBP modifying forced labor finding, the Statement of the G7 and Australia on price caps, the CBP modifying withhold release order on YTY Industry Holdings, and more topics.
This month’s Global Trade Brief reviews U.S. technical corrections to rules of origin for certain goods imported into the United States, limits for EU steel tariff-rate quota, goods from Germany and Luxembourg, change to fees for duty-free treatment of infant formula, possible refund opportunities and more topics.
This month’s Global Trade Brief reviews U.S. continuation of Section 301 tariffs on imports from China, publication of 14 general licenses related to Russia, Preliminary Guidance on Implementation of a Maritime Services Policy and Related Price Exception for Seaborne Russian Oil, moves to ban products made with forced labour on the EU market, and more topics.